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What determines how high a coins value can go?

  • 03-12-2017 3:24pm
    #1
    Registered Users Posts: 188 ✭✭ boogerballs


    Hi All,

    I have only recently have started investing in Concurrency, its more to see what the fuss is all about rather than making some serious money.

    I'm not in the position to buy much of the higher value coins such as BTC, ETH and Monero but have bought some lower price coins such as ADA (Cardano) and IOTA plus some other coins at ICO level. Total investment is about €500

    What I don't understand is what can determine how high a coins value can go - is it solely down to how the coin is adopted by markets. Why did Ehterum to nearly $500 and what is stopping IOTA for example doing that?
    Tagged:


Comments

  • Registered Users Posts: 470 ✭✭ manu2009


    What I don't understand is what can determine how high a coins value can go - is it solely down to how the coin is adopted by markets. Why did Ehterum to nearly $500 and what is stopping IOTA for example doing that?

    The key difference here is the circulating supply, for IOTA it's 2,779,530,283 MIOTA and Eth it's 96,110,583 ETH.

    So for example if IOTA was to grow to the same Marketcap size as Eth it would only be worth roughly $16.50.

    It's what a lot of new people in the space fail to understand when they think high supply coins like Ripple, Cardano, IOTA and Stellar can reach the same fiat price as Eth or BTC etc.


  • Registered Users Posts: 188 ✭✭ boogerballs


    Ah that makes sense - thanks for the response


  • Registered Users Posts: 9,256 ✭✭✭ S.M.B.


    Surely the only thing that determines how high a coins value can go is simply what someone else is willing to pay for it?

    Supply plays a big factor in that decision but there's a lot more too it than that.


  • Registered Users Posts: 7,880 ✭✭✭ frozenfrozen


    o nice this just reminded me to check my lumens, I have $138 worth at todays price

    total I paid in... $0

    ∞ profit%


  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins


    o nice this just reminded me to check my lumens, I have $138 worth at todays price

    total I paid in... $0

    ∞ profit%

    Ah stop. I can't remember my password and still have all the launch freebies.


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  • Registered Users Posts: 7,880 ✭✭✭ frozenfrozen


    If you don't remember your password your account is gone and for a different reason than you'd imagine they transferred away from username and password to secret key public key with no login details and there was a decent hullabaloo about accounts being destroyed that didn't transition

    .. So no need to keep trying to remember your info! (sorry)


  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins


    If you don't remember your password your account is gone and for a different reason than you'd imagine they transferred away from username and password to secret key public key with no login details and there was a decent hullabaloo about accounts being destroyed that didn't transition

    .. So no need to keep trying to remember your info! (sorry)

    Yeah, I wasn't really keeping an eye on things there.


  • Registered Users Posts: 7,880 ✭✭✭ frozenfrozen


    You can have a go on my super yacht don't worry


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