Bitcoin Price Estimation
AlfaQuotes.com is a source of Bitcoin “fair value” quotes. AlfaQuotes gives you what “should be” the price of Bitcoin based on its cost to mine in equipment and electricity. Bitcoin is always becoming more difficult to mine as well as increasing in popularity so generally the trend has been upward. AlfaQuotes only takes into account certain Bitcoin mining related variables into its price which takes speculation pretty much out of the picture. AlfaQuotes intends to tell you how much it will cost to mine one Bitcoin.
Check out the chart at the bottom of the page and compare the green line representing the “AlfaQuote” price and the red line representing market value for Bitcoin. This is another good tool to track potential Bitcoin value. For the first time I have seen the AlfaQuote is approximately the market value. Previously it has always been pegged significantly higher than market value.
For more detail on how the price is calculated please visit AlfaQuotes.com formula page.
Cryptocurrency market capitalization is difficult to determine but can still be a good metric to estimate growth of a cryptocurrency (even if imperfect as provided). While I accept these are probably rough estimates they are still useful data-points to follow in an industry where data is paramount.
When I began using CoinMarketCap.com Bitcoin’s market capitalization was $4 billion. Check it out yourself but as of writing (07/05/2017) Bitcoin is sporting a $42 billion dollar market cap. The site CoinMarketCap.com also gives good insight into other popular cryptocurrencies as they rise and fall in popularity. As you probably know I always recommend diversifying and I also recommend utilizing this site to gain research ideas. Don’t put everything into Bitcoin, explore new possibilities as well!
BitcoinTalk: A Previously Okay Forum, Now Far Better
Reinvention of Bitcointalk? The former home of the most intense fear, uncertainty, and doubt campaigns has brought some sensibility to itself in the cryptocurrency world. Long a boiling cauldron of insecurity and self-righteous scamming (as well as legitimate attempts at rationality) now has become a bastion of hope. I am only being semi-sarcastic. Observe: “Low Quality Topics Do Not Belong Here”, what a shocker!
BitcoinTalk has been there for years!
I am glad that Bitcointalk has elevated itself to the rightful position I felt it deserved to occupy for some time now. I think it is the biggest Bitcoin forum on the internet but it has also been in the past a source of discouragement to the community. A sense of duty has descended upon the community however and I feel it is now a worthwhile source to mention.
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