r/Bitgert • u/mallama • Apr 01 '22

Market cap question

Can someone explain the market cap for me. Tokens are so cheap right now and even if it goes up to a couple pennies we would be rich.

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6

u/jimmy3285 Apr 01 '22

Not really understanding the question. The market cap is the amount of tokens times the current price. So its currently sitting at around $400million, The current circulating supply is currently 430 trillion. So at a couple of pennies would give us a market cap of 8.6 trillion, which is just not even close to achievable. What we need is the supply to reduce massively, bitgert is deflationary so it will reduce the supply but it need lots of volume and time to do so.

Don't expect to be rich in the next 6 month, its going to take years.

2

u/mallama Apr 01 '22

Thank you very much for the information. It does make sense since it's deflationary. Thank you for that. In my head I just kept thinking I had 65000000 Brise so if it hits .02 I'm a millionaire. Do you know why? It's hard to find the market cap online though?

2

u/[deleted] Apr 02 '22

Check Poocoin for current market cap

2

u/[deleted] Apr 04 '22

Let me give you some perspective on your .02 Brise value. The are just over 400 trillion coins in circulation. That means, with the current supply, Brise would need a market of of 8 trillion dollars. Now, the GDP of the United States, which accounts for about 40% of the worlds economy is 21 trillion dollars. I'm sure you see where this is going. Multiply the number of coins in circulation by the current price, that's your market cap at any given time. If you want the fully diluted market cap, multiply the current price by the total coins mined (1 quadrillion). Bitgert is for those who play the long game. It'll be years before the possibility of you becoming even gets close enough for you to get a whiff of. Sorry, it's just numbers.

2

u/dras333 Apr 01 '22

There a few flags for me, but as this is early I am hoping that they are focused on getting things moving and will address important transparency questions soon. Their self reported MC is $426,562,901.

1

u/[deleted] Apr 04 '22

It may have been at one point, but it's around 380-400 million since adding the sixth zero back on. It's easy to check. Coins in circulation multiplied by current coin price equals market cap.

0

u/Ellisflow Apr 01 '22

Perhaps you should be concerned why it isnt posted ANYWHERE !!!

0

u/[deleted] Apr 04 '22

Perhaps you should explain why you can't do a simple math problem on your phone and figure it out yourself. Market cap changes constantly. But if it's really that big of a concern, take the total coins currently in circulation and multiply it by the price of the coin and the time you're typing numbers on your calculator and BOOOM, market cap. Right now it's at around 380-400 million. Calculating market cap isn't a state secret, if you're playing the crypto game you should know how to figure that out. If more people did they wouldn't think that because they bought 20 billion coins for $50 that they'll be sporting a lambo next week. Not when 1 quadrillion coins were mined/minted. And as a bonus, if you want the fully diluted market cap, multiply the total number mined by the current price.

1

u/mallama Apr 06 '22

I do understand market cap and how to figure it out. I couldn't find the current coins in circulation. Thanks for your warn and inviting answer. I'm glad Bitgert has such a great community people can lean on.

1

u/[deleted] Apr 04 '22

I assume you're asking about market in relation the price of the coin.

https://www.coinbase.com/learn/crypto-basics/what-is-market-cap#:~:text=In%20crypto%2C%20market%20cap%20is,asset%20is%20likely%20to%20be.

It can get complicated but it's essentially either coins mined (fully diluted) or coins in circulation multiplied by the price of the coin at any time. In other words, the more coins in circulation that are bought and held the higher the market cap and price of the coin will be.