$10k bitcoin seem overwhelming? Here's why it's really not

in #bitcoin4 years ago

$10k bitcoin might seem overwhelming to most people, Considering the average american has $4,436 in their bank account and almost half the world lives on less than $2.50 a day, its not hard to see why. However, the reality is $10k bitcoin means the same as

$100k = 10 Bitcoin
$5k = 0.5 Bitcoin
$100 = 0.01 Bitcoin
$10 = 0.001 Bitcoin
$1 = 0.0001 Bitcoin

You get the point, The market cap is what matters. Bitcoin market cap is around $163,457,934,031 right now. Lets have some fun and see how it compares to some other things.

Coca Cola(a beverage corporation) has a market cap at $195,000,000,000 which is a lot bigger than bitcoin right now.

New Zealand(population of 4.693 million) GDP is around $198,043,000,000.

A single man Jeff Bezos(CEO of Amazon) is worth $100,000,000,000 which is around 61% of bitcoin market cap

Now these comparisons were just for fun, the reality is bitcoin doesn't compare to any of these.
Right now bitcoin is used globally in a decentralized fashion to store wealth, transact and trade for other currencies. Aka its used as a decentralized global currency.

Now that is pretty big.

So when you realize that its being used as a decentralized global currency but still smaller than Coca Cola, New Zealand GDP and that a single man is worth 61% of its market cap you will realize that its incredibly small!

There is around 3,885,567,619 people online right now and growing

Everyone who is online can get involved in bitcoin within a few minutes even if they want to get involved with just a few dollars :)

So don't let $10k bitcoin feel overwhelming, Its a red herring to the fact that you don't need much to get involved. And that bitcoin is still relativity small to how its being used right now.


Congratulations @freedoms! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You made your First Vote
You made your First Comment
You got a First Vote
You published your First Post

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!