cap stands now, asserting its impossible to determine with any sense of accuracy the value of all usable or spendable bitcoins. Total Market Cap: 139,108,908,987, last updated: Mar 22, 2019 3:17 AM UTC. Market capitalization is calculated by multiplying the total number what is mining bitcoin for dummies of Bitcoins in circulation by the Bitcoin price. As of mid-June, the value of all blockchain-based currencies in circulation was.37bn, and the price of bitcoin was, as it has been historically, a leading driver of this growth. The problem with the bitcoin market, however, lies in the definition of outstanding shares. In five years, Bitcoin has increased its market capitalization from.06 billion.S. Dollars in the first quarter of 2012 to approximately 237.62 billion.S. Its a double-edged sword, said Chris McAlary, chief executive officer of Coin Cloud, a bitcoin trading and ATM company.
But at the same time, there seems to be a lot of misconceptions about what this number means.
Bitcoin bTC ) is a consensus network that enables a new payment system and a completely digital currency.
Powered by its users, it is a peer to peer payment network that requires no central authority to operate.
Cryptocurrency market cap rankings, charts, and more.
If one was to say that a cryptocurrency is a commodity in the traditional sense, one would expect to be able to trace a cryptocurrencys units to an actual physical entity that would confirm the units uniqueness and ownership. . With a total value of all bitcoins in existence at 10bn, the bitcoin market is currently more valuable than one of the largest social media companies in the world, Twitter. It is theoretically possible for digital goods, such as downloadable videos, music and games, to be digitally protected using a blockchain. Market capitalization is defined traditionally as the price per share for the commodity at the time of the capitalization, multiplied by the current number of outstanding shares in the market. If a product is expected to be sold digitally, many would agree that there must be a mechanism in place to facilitate recovery something a blockchain in its present form cannot. Due to factors including the notion of zombie bitcoins and the number of bitcoins stored by long-term, buy-and-hold investors these market observers believe its difficult to make summary statements about the vitality of the market or its current trajectory. While its market capitalization is growing at an unbelievable rate, the public is only slowly becoming aware of its existence. This, however, opens up the possibility that assets are lost. The most important statistics.