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RE: Store of Value?

in #bitcoin • 7 years ago

In about 2 years from now, BTC will have had more trading hours that Gold (since 1969). So the light blue line should actualy be more stretched out for a better comparison!

7 years ago in #bitcoin by
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     7 years ago  

    Interesting. Where are you coming up with that number?

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     7 years ago (edited) 

    In this article:
    https://steemit.com/bitcoin/@bullishmoney/mainstream-media-ignorantly-spreads-bitcoin-bubble-fears

    The author states the following:

    Normal trading doesn't take up the entire 24-hour cycle. In fact, it only takes up 6.5 hours (Wall Street opens at 9:30am EST and closes at 4:00pm EST). Bitcoin prices, on the other hand, are broadcast throughout the entire day. Thus, after a one-year period, bitcoin and other cryptocurrency assets have traded for 8,760 hours (365 days x 24 hours).

    On the flipside, Wall Street has only traded for 1,625 hours (approximately 250 business days x 6.5 hours). Thus, one year of "bitcoin time" is the equivalent of 5.4 years of "Wall Street" time (8,760 hours / 1,625 hours). In two years time, bitcoin has already experienced more than a decade's worth of trading!

    The stated 2 years in my previous post was just a quick math answer, but i'm sure the exact date could be calculated with this info!

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     7 years ago  

    That primarily refers to the U.S. Stock market. There are several gold spot price markets that trade 23 hours per day... and they have been for a long time now.

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       7 years ago  

      You're right, i didnt think of that...
      Although it is foremost traded in USD