Something or Much Ado About Nothing?
I’m going to admit right up front that I have no idea about the whole cyber currency thing. I have done absolutely no research on it at all, but I thought this might be interesting to some of you….
As the price of Bitcoin soars higher and higher, more and more people are beginning to take note.
The surge in interest and demand for more information are driving the research departments at some of the world’s biggest financial institutions to begin covering the cryptocurrency and its competitors.
Proponents say that the new block-chain technology will revolutionize not only finance, but will have a profound impact on a myriad of other industries as well.
Naysayers argue that as a cyber currency, its value exists only in the ether and if the lights get turned off so does your wealth.
But for all its press and attention, how big is Bitcoin, really?
It turns out, in the big picture – not that big.
According to the data-visualization website HowMuch.net, the total current value of all the bitcoin in the world is about $41 billion. Its total value is less than half of Microsoft’s founder Bill Gates net worth and 1/10 of Amazon’s market cap.
So, what to make of all of this?
Hell, I don’t know. But it seems to me that you’re simply trusting the other person on the other end of the Bitcoin transaction to be trustworthy. Maybe there’s way more to it than that.
You’re on your own on this one.