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posted by
cmn32480
on Wednesday June 07 2017, @12:31PM
from the where-it-is-all-made-up-and-the-dollar-value-does-matter dept.
from the where-it-is-all-made-up-and-the-dollar-value-does-matter dept.
Cryptocurrencies, as a whole, now hold over $100 billion in market cap for the first time. While bitcoin (BTC) leads the pack at just over $46.6 billion, or 47.9 percent of all cryptocurrencies, the recent surge in these other coins has helped to push the total cap over the top.
Since the Bitfinex hack low on August 2, bitcoin has traded better than JP Morgan, Goldman Sachs, Tesla, Apple, Google and gold. One of the few stocks to match the frenetic pace of bitcoin has been Nvidia, which is up over 200 percent since July of last year.
[...] Although China, Japan and South Korea are trading at a ~$100-plus premium compared to the exchanges in the United States, most of the volume [on June 5th] has been driven by USD.
Source: Bitcoin Magazine
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Cryptocurrencies Hit $100 Billion Market Cap
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(Score: 2) by cafebabe on Thursday June 08 2017, @05:43PM
In the tulip bubble, every tulip bulb would have to flower more than 1000 times for the value to be obtained. Unfortunately, tulip bulbs generally flower about five times. BitCoin has a slightly different property. Every coin can be divided into one billion separately tradable pieces and, with some downwardly compatible changes to software, this could be a billion billion pieces or more. In general, the vast majority of crypto-currencies have more granularity than the vast majority of paper currencies. (Stamping nine zeros on a Zambabwian dollar doesn't make the currency granular if they cannot be traded separately.)
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