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re: So Warren Buffet sees no future in bitcoin...

Posted on 5/14/13 at 11:43 am to
Posted by LSURussian
Member since Feb 2005
127260 posts
Posted on 5/14/13 at 11:43 am to
quote:

Or am I doing this wrong?
Yes, very.

1% of GDP is not measuring btc's "market value" but its transactional usage as a percent of the global economy.
Posted by Broke
AKA Buttercup
Member since Sep 2006
65066 posts
Posted on 5/14/13 at 11:45 am to
Here is Wiki's post:

quote:

Anyway, here's my definition of success for bitcoin:

CONCRETE:
$1,000 or greater value per BTC for over 1 year
or
1% of global economy


Which about made me choke on my own spit.
Posted by gizmoflak
Member since May 2007
11675 posts
Posted on 5/14/13 at 11:47 am to
quote:

1% of GDP is not measuring btc's "market value" but its transactional usage as a percent of the global economy.


So how many $$$ worth of bitcoins would need to be transacted to reach 1% GGDP?
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