[fragsworth]

> That's $8.7B worth of market cap that bitcoin obsoletes.

That logic doesn't really follow. It takes over all those things even if its market cap is only $1 billion. Bitcoin's market cap not related to the industries it replaces.

If it takes over rare metals, though, as an investment, it might end up worth something close to the market cap of Gold.

[joshuaxls]

You're correct. I'm simply replying to his statement that there's no value proposition in bitcoin to consumers. My response is that it can easily replace a company worth $8.7B, thus showing it has consumer value, not that bitcoin will be worth $8.7B if it replaces Western Union.