I have been in Crypto Currency for quite some time now and I am still enjoying every second of every day. I have read a few interesting articles of various individuals and organisations taking a stab at predicting the future of this market.
I have picked up the flu earlier this week and I am literally writing this post from my bed, so I am going to keep it short, but I have read some very interesting articles which I wanted to share with you all.
The latest articles, values the industry at more than US $5 Trillion as per the article which can be read here
The Nasdaq got to $5.4trn in 1999, why couldn’t it be as big?” the former hedge fund manager said in an interview, referring the Nasdaq Composite Index. “There’s so much human capital and real money being poured into the space and we’re at the takeoff point.”
Is 5 Trillion Dollar a ridiculous amount?
In my opinion definitely not. The key point in the statement above is … we are at the take-off point. Not a lot of people have the ability to predict the future, but in my opinion it can even be bigger than that. I am speaking to more and more people everyday, which are getting involved in the industry. I am not sure if this is the global trend. Do you find the same n your country or region?
Nvidia and AMD battle
Nvidia and AMD has been battling each other for many years over the gaming market and the various other markets where Graphics cards are required. Now these technology giants are facing off in the new Crypto Currency mining industry and we are speaking major money here.
Cryptocurrencies are red-hot right now. Bitcoin is probably the most notable and has been around for years. But, recent explosive growth in rival currency Ethereum, has been making headlines. Recently, $100 million worth of GPUs were added to the Ethereum network in just 11 days.
$100 Million worth of new GPU's in just 11 Days... this is massive ..
You can read the full story here. A Wall Street bank is betting Nvidia will win the cryptocurrency battle (NVDA, AMD
There are a lot of opinions out there, and we should remember that they are just somebody's opinion. There is no guarantees of anything in this industry, except that there will be changes every day It might be a bubble, it might not, but let's enjoy every second of the journey to each of our destinations!
Happy Steeming!
I think we will have a 1 Trillion Market Cap within a year. Today July 1st, 2107 Total Market Cap is: $99,609,462,016 down around 20 billion from a week ago.
Crypto is only starting, I read recently there are only around 10 million people trading Crypto currently worldwide so that is nothing.
People should listen to the likes of Clif High to hear where this market is going.
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Robbie, interesting take, but I doubt many western countries will allow for that much without action. There are ONLY 15 countries with more than 1Trillion in GDP, source 1 below. While I am certain there will be continued growth - I am bullish on cryptocurrency and the emerging technologies from it. I think for many places their government is still looking at what to do in order to properly glean taxes. With several different think tanks making crypto a topic lately; source 2, I am certain there is legislation to come down the pike.
Sources:
1 http://statisticstimes.com/economy/countries-by-projected-gdp.php
2 http://bilderbergmeetings.org/press-release.html
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Great comments , thanks guys
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I think this is possible...if not in a year, then 2 years from now. The only issue is that the market cap on coinmarketcap isn't a real market cap. There are too many coins with 0 volume on rinky dink exchanges that have artificially high valuations. I bet market cap is artificially inflated a good 20-30% from what it really is.
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trillion is too much in my humble opinion. I bet on around 250 billion
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Conclusion
Nvidia V/S AMD
The right answer for anyone considering a GPU purchase is to look at the market at the moment you want to make a purchase, and decide what's going to be best for you, based on what's available today. The GPU market cycles rapidly with frequent change, and a brand name recommendation doesn't carry much meaning. Both companies produce comparable GPUs with differences that swing in favor of one company or the other depending on what's most important to you. The advantage for the consumer is that the two companies are competitive enough to keep pressure on the other company which drives quality up, prices down, and generates wins for the consumer. The important thing for the consumer to know in that environment is that who has a better product at a given moment in time and price point may shift to either side of the line, and holding on to a company based recommendation may not result in you getting the best available product at the moment you make your purchase.
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THrank you for a great comment
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" Recently, $100 million worth of GPUs were added to the Ethereum network in just 11 days."
Doesn't mean these are new cards sold but definitely, crypto is real blessing for both nVidia and AMD.
Imagine you like playing games on PC, crave a new card but you don't wanna spend 400 bucks.
But if the card pays itself in one year mining crypto? You would be fool not to get one! Or two, why not! ;-)
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Yeah, totally agree with you
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Thank you for your helpful post!
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I hold 70 per cent of all my money in cryptos and wait for growth in July) there are too many good news!
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what news? Dont know about anyone...
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And it has a long way go ... following you !!
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Yup - It just shows again and again - the blockchain technology is changing business and trade as we know it, day by day! Thank you for sharing and feel better quickly. Cheers
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Thanks @snailpath. I am now going to sleep for a few hours... Can't see straight anymore :) Chat soon
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If I was CEO of either AMD or Nvidia I would have created a new division of mining farms by now.
Great topic, thank you.
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i am keen to see bitcoin and ethereum hitting new heights and the whole industry grow into the multi billions -- considering it is currently market cap of less than 10 billion this 5 trillion idea is pie in the sky - but i love it and want to here when it happens
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Niceee
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Nice article. It is fascinating to see which company- AMD or Nvidia will come out with the best Card for mining. I have read reports on plans that there will be cards specially made for the sole purpose of mining! How cool is that?!
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People wouldn't invest so heavily in mining if they didn't think this was going to stick around and grow
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You were asking about the trend of people getting in to crypto: In my region we have some old school OGs but everyday I hear people saying they bought some altcoin or bitcoin, or they started trading. In the past 2 months I know for sure 10 close friends got into it. And some of them with a bigger than usual amount of capital.
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Thanks for the reply @gaitan. I expected as much as I believe it might be a global trend for more and more people to get involved. I would like be to hear from different regions as well !
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Thanks for this post @jacor - my feelings and questions exactly. Have upvoted and resteemed
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Follow me @kapku
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Nvdia and AMD are so lucky to have gotten caught in this whirlwind of cryptocurrency mining.. good on them for keeping up with it so far.
I don't like to speculate about the future market cap, but I'll be happy as hell if we reach $5 trillion in the next 5-10 years.
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Thanks for sharing, always positive info on cryptocurrencies
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Very good point of view!
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speaking about the battle Nvidia is good for hard core gamers like me and Amd is quite good for normal users :)
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Yes, obviously anyone recommending a market cap number is just speculation, same as stock price targets. However, the fact that many of predicting growth over decline is psychologically good, just like when all the analysts are pricing APPL stock much higher, it tends to get there.
So many fresh dollars that can still come into crypto too....I'm there only one in my whole tree of family and friends investing in crypto, though I'm trying to get them onboard.
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Well, being a newbie in the business, it is quite interesting to know all the information, and all the comments are very helpful.
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I did up a visual comparison with broad money supply in this post from a couple of weeks ago that may interest everyone who hasn't seen it yet. Lots of room to grow!
The Crypto Boom! Part 1: Keeping Perspective
Good post and hope you're feeling better!
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@jacor i am preparing to mine ethereum. i am stuck at deciding which graphics card is the best for mining. everything else is done. can anyone help me?
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hi @fashionista , I will get back to you on this. I have a few friends who mines Ethereum and will find out for you.
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Hi, if you are new to crypto i sincerely think you should use telegram
https://t.me/PumpsNotifier
they Provide Free Cryptocurrency Trading Signals for Pumps on a regular basis. just join group and follow and reap rewards for consistent profit
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thanks, looking forward to next Gen of AMD And Nvidia cards for mining :)
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I wrote a post about my own view on the whole bubble thing, specially concerning ICOs. My point is very simple, if each one of us do not make their part, we can ruin the party. If we get enough bad examples out on the street we'll sure piss off a bunch of regulators and traditional investors, and that will likely limit the whole of crypto and blockchain economy's growth.
About the big currencies themselves, I shared my view on this post comparing the money sizes.
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