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?
Isaiah Ward
Bump, because this is actually important.
Tyler James
It's currently undergoing a large shakeout, check back soon, or join in if you like watching a good bloodbath
Parker Walker
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.
Brody Jones
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
Henry Lopez
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.
Wyatt Bell
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
Lucas Gutierrez
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
Gavin Stewart
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.
Colton Thomas
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
Jordan Thomas
Crypto is crashing hard right now. Cash out all of it. BTC is going down to $ 100 next week.
Brandon Cooper
>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.
Kayden Nelson
>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)
Kayden Wood
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.
Samuel Flores
>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.
Gabriel Gonzalez
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
Alexander Hall
So holding Ethereum, Bitcoin and Monero long term is a sure bet?
Jace Anderson
Nothing is a sure bet. Amazon could present their own coin tomorrow and BTFO bitcoin.
Anthony Jenkins
im bullish on bitcoin and think its underrated everything else is a complete crapshoot at this point
James Myers
if you compare this to the dotcom bubble you don't know shit about the dotcom bubble. crypto is fucking peanuts
Hunter Garcia
BTC at 100? retard alert
Christian Young
Mainstream is buying your groceries with crypto. Don't be daft, its considered mainstream in the black markets.
Noah Perry
No, better technology coins or big banks/other backed curencies can overtake these.
Justin Bell
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).
Carson Young
>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.
Hudson Turner
We are going to be fucking rich. We are the NEETs that get revenge on normies and boomers. There's no turning back now.
Jacob Martin
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.
Mason Robinson
my sword is yours sempai just tell me when and where
Hudson Davis
>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.
Julian Bennett
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?
Jack Gomez
The reason BTC is $3000+ and still heavily undervalued is because of the opposite.
You are not going to make it.
Dominic Wood
>$3000+ have you looked at the price recently?
Jonathan Cook
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.
Joshua Green
People don't buy groceries with crypto not because they don't know how. It is because it is not fucking convenient.
Kevin Murphy
Yes. $3000, the current downtrend is just market noise. See you at $5000 after segwit activates.
Jacob Watson
What would be the ideal distribution of ETH / BTC to hold in crypto portfolio?