The case for a million dollar coin! - Cryptocurrency wallet users vs Facebook users. Where are we now?

in bitcoin •  last year

Facebook vs Crypto.png

The one million dollar coin is a joke! or is it?

Every once in a while we read in the media about some “crazy” guy predicting Bitcoin could reach a million dollars in price. Yes, we all laugh, think that’s crazy, dismiss it another regular piece of fake news by the mainstream media, and continue on our day.

However, I was curious to compare the growth of crypto currencies with that of Facebook, that monster we all hate, love and use at the same time, just to have an idea of how high we could go if crypto currencies reach the level of popularity Facebook now enjoys.

This report was conducted early 2017 by the Cambridge Center for Alternative Finance with support from VISA, inc and it collected data from over 100 cryptocurrency companies spread across 38 nations, accounting for about 75 percent of the entire crypto-industry.

Estimated number of crypto active users.png
Screenshot from the GLOBAL CRYPTOCURRENCY BENCHMARKING STUDY

Based on data from the report there are currently about 2.9 to 5.8 million active wallet users worldwide. This is a number that pales in comparison to Facebook users today, so there's plenty of room for growth. I believe we can safely say we are in the very early stages of crypto adoption. I also believe that unless there's some crazy and unexpected black swan event crypto is here to stay.

Facebook vs Crypto.png

The following chart compares web traffic of Facebook.com vs Coinbase.com (one of the most popular crypto exchanges and online wallets in the world)

Facebook vs Coinbase.png

But wait, there more! The race for 3 billion more people

Also, all this impressive Facebook growth does not include the more than 3 billion people who live in the third world and don't have access to internet or modern banking. All the big companies like Google and Facebook are on a race to bring them online very soon. Even some smaller crypto companies, like Blockstream, are beginning to see their potential and have them on their sights with their recently launched Bitcoin Blockstream Satellite network that is broadcasting the Bitcoin blockchain from space.


blockstream satellite network.png
Blockstream Network of Satellites' reach around the globe

So, what do you think? Does that million dollar coin sound ridiculous now?

Related: Blockstream Is Using Satellites to Beam Bitcoin Down to Earth

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Tell me what you think about this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!  

Happy crypto investing!   

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hi @cryptoeagle
wow you are so right people invest so much and then thay cry where it went but you know that now evrebody is crazy abaut bitcoin and litecoin and shitcoin lol i say there is no eazy cash go to work and work hard keep your mony in bank thats it . you think i right ? thank you for that post man

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No

Awesome post..

fb user got love, date, romance, sex etc by growing their fb network..

Excellent - nice to see the visual.

great post cryptoeagle! keep it up! and thanks again for following!

nice info given by u sir... thanks keep it up!

@cryptoeagle got you a $1.53 @minnowbooster upgoat, nice!
@cryptoeagle got you a $1.53 @minnowbooster upgoat, nice! (Image: pixabay.com)


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the cash million dollar

bitconnect for me baby--bradley200 sign up with me on bit connect-i am in for 1600 bucks-also i leave in del mar ca

While presently it is a long way away I don't think is is out of the question especially if you consider the inflation of Fiat money if the dollar is worth a penny then the price of everything goes up 100 times which would make bitcoin 400,000 dollars so in time why not

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By that time they would probably redenominate the dollar as well.

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Great post!

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Nice! The future is bright! Stay in crypto :)

Fantastic. Up-Voted and Followed.

great job likee it

Your post is very good!

Now look me in the eye and Follow Me @cryptopay-blogYour post is very good