CryptoCurrency market cap as of now is $110 billion...

CryptoCurrency market cap as of now is $110 billion. In comparison gold total market cap is $7 trillion (approx 60x more) and total stock market cap is $69 trillion.

Question is - is the current $110 billion market cap for cryptos warranted? People keep spouting the meme that it is "drop in the ocean", but is it really?

Most just speculate and don't really use cryptos, so maybe the true underlying value is closer to $10 or $20 billion and cryptos right now are overvaluated by magnitude of 10x?

What are your thoughts on this market cap and potential market cap of cryptos in 5-10 years?

Bump, because this is actually important.

It's currently undergoing a large shakeout, check back soon, or join in if you like watching a good bloodbath

We've had this thread a million times. Crypto is the future. There will be a massive crash sometime before we hit $1 trillion, the good coins will rise from the ashes, and we'll be good to go.

We're in the infantile stages of this market and I think that things are blown out of proportion a bit. The 110 billion market cap is realistic though as the majority of that is from BTC/ETH which have actual uses and deserve to be invested into. Not the same for the shit coins, they're the same as penny stocks

Cryptos as a whole seems overpriced, but the actual good projects that are slow and steady, with a long, serious history, a good whitepaper and a good roadmap for the future, are still very underpriced.

Its shit like Status, Bancor, Ripple etc that are hilariously overpriced.

It's essentially a global decentralized banking system. It has multiple uses and I imagine over the next two decades 'smart contracts' will play a major part in Global societies as blockchains adapt and evolve

I think a lot of products are potentially unwarranted, but potentially a lot of stuff is still extremely undervalued

I definitely think the crytosphere will grow into the trillions, how long is the question

I think it will grow and be tough to measure as a market. Blockchains will run the markets of the future.. Some public some private..

The sea change is ico vs. Ipo/vc.. Ico will continue to grow and steal from tradiontial asset classes

Dot com all over again. Only those hodling a few selected coins will get a lambos and private islands. People WILL lose a shitload of money in shitcoins.

Western Union alone has a market cap of around $10 billion. Every crypto can beat them in value transfer alone, so I believe crypto market cap as a whole falling to those levels is pretty unlikely

Crypto is crashing hard right now. Cash out all of it. BTC is going down to $ 100 next week.

>We're in the infantile stages of this market and I think that things are blown out of proportion a bit.

WRONG. Crypto has been on all major outlets right now. If you missed it, Ethereum had a seperate post on newyorktimes.com a week ago.

If this isn't mainstream, I don't know what is.

Those few selected coins are Ethereum, Bitcoin and Monero I assume?

>Western Union alone has a market cap of around $10 billion.

But people actually use Western Union.

It is hardly crashing at all. "Hard" crashing is 70-95%. This is nothing.

>are cryptos undervalued by a magnitude of 10x?
most yeah
>if this a drop in the ocean
also yeah. Gold is fucking useless in the same way virtual shitcoins are. Except coins need less space, are easier and faster to transport and can be used more easily as a currency (smarphones and shit). Surely they don't have the same trust as gold but they also won't be as big as gold in the near future. I see it somewhere between $300-500 bn in the next years and can vary depending how stable teams develop useful shit and if it can be trusted (if a big coin gets hacked for example it can be bad)

You are right, people actually use WU. Right now only a few of us actually use crypto for value transfer, mostly on dark markets.

However, people WILL use crypto. This is basic arbitration where crypto can offer the same service so much cheaper that it wont go unnoticed.

Do you have any normie friends OP? Because if you did I think you'd know that crypto is NOT mainstream. I'm getting my masters in compsci, and in the past six months people here have been waking up and starting to invest. True normies have just heard about the gains, but have not started to invest yet. As technology and markets mature this will go mental.

>WRONG. Crypto has been on all major outlets right now. If you missed it, Ethereum had a seperate post on newyorktimes.com a week ago.
>If this isn't mainstream, I don't know what is.
That's like saying VR is mainstream because outlets write about it. There's a huge difference between awareness and adoption.

why do people make this comparison? I agree with your conclusion but crypto as a whole is not overvalued but I agree that most coins are. It is a lot similar but with an important difference. If you don't buy shitcoins you're good. This can for sure happen in the future but it's not happening now

So holding Ethereum, Bitcoin and Monero long term is a sure bet?

Nothing is a sure bet.
Amazon could present their own coin tomorrow and BTFO bitcoin.

im bullish on bitcoin and think its underrated
everything else is a complete crapshoot at this point

if you compare this to the dotcom bubble you don't know shit about the dotcom bubble. crypto is fucking peanuts

BTC at 100? retard alert

Mainstream is buying your groceries with crypto. Don't be daft, its considered mainstream in the black markets.

No, better technology coins or big banks/other backed curencies can overtake these.

Mainstream is whatever the astute investors consider to be the tipping point. If they thought second page of NYT was it the crash would have begun covertly. (basic Dow theory, correct me if I'm wrong).

>crypto founded to get away from banks
>bank backed crypto end up dominant
I swear I'd go full beta uprising mode if this happened.

We are going to be fucking rich. We are the NEETs that get revenge on normies and boomers. There's no turning back now.

You're pretty dumb. Gold does have uses and not just for jewelry. Open up a cell phone or a computer and you'll see its uses.

my sword is yours sempai
just tell me when and where

>110 billion market cap for cryptos warranted

That's hardly anything when you consider the value of the underlying platforms. BTC alone is worth that for the money laundering aspect if nothing else.

Interesting graph, thanks.

Can somebody explain:
Why does the dot-com bubble seem to be tied to NASDAQ?

Don't they e.g. trade shares of the same companies at the New York Stock Exchange?

Why is market cap of an exchange even that interesting? Many exchanges share the same stocks, don't they?
I can trade apple stocks in different places, right?

The reason BTC is $3000+ and still heavily undervalued is because of the opposite.

You are not going to make it.

>$3000+
have you looked at the price recently?

Does anyone remember the estimated number if crypto wallets created? There was a post last night. This is far from over but everyone should be prepared for dips and to jump ship to the next big thing.

People don't buy groceries with crypto not because they don't know how. It is because it is not fucking convenient.

Yes. $3000, the current downtrend is just market noise. See you at $5000 after segwit activates.

What would be the ideal distribution of ETH / BTC to hold in crypto portfolio?