Pricing coins per second


#1

I wonder if it would be useful to display prices of cryptocurrencies not only per coin, but also per second.

For Grin these two prices are conveniently identical, ignoring deviations from the 1 minute block interval.

In contrast, while the price of bitcoin is currently $3532 per coin, the price of bitcoin per second is

$3532 * number_of_bitcoins_issued / number_of_seconds_since_genesis =

$3532 * 17478538 / 316396800 = $195 / second


#2

So, market cap increase per second. I am afraid market cap is a largely uninteresting metric outside of stocks. You can acquire a company (all stocks) at current price, but you can’t buy all units of a commodity at current price. Furthermore, the definition of supply is not well-defined for commodities, whereas every stock is always owned by a legal entity, and they can’t be lost.


#3

No; that measure would halve just as the bitcoin block reward halves.
My definition avoids such discontinuities…


#4

So emission rate in dollars?

Definitely a useful way to measure the network value from a mining perspective. Not so useful for a spenders perspective.


#5

I meant average since inception. I though it went without saying.


#6

Ah, then you’re right of course, since $3532 * number_of_bitcoins_issued == marketcap.


#7

Having doubts about the inflation model?


#8

Not smart enough to understand how the economics of this will play out - but it will definitely stand out from the “coinmarketcap” bunch. Could be a very good PR campaign.


#9

Not for one second…


#10

If anything the emission schedule ensures a more smooth continuity.


#11

Interesting proposal. Just to make sure I am understanding this correct, is that like price delta since a particular timestamp, in this example - genesis?


#12

can’t say until you give me a more precise definition of “price delta since a particular timestamp” which sounds like just a change in price?!


#13

Interesting proposal.

Here’s some math using cmc data from 2019-01-15:

coin launch mcap days pps
BTC 2009-01-03 6.48E+10 3664 $204.69
ETH 2015-06-30 1.34E+10 1295 $119.76
LTC 2011-10-13 1.96E+09 2651 $8.54
BCH 2009-01-03 2.34E+09 3664 $7.38
XMR 2014-04-18 7.72E+08 1733 $5.16
ZEC 2016-10-29 3.17E+08 808 $4.54
DASH 2014-01-18 6.23E+08 1823 $3.95
DOGE 2013-12-06 2.25E+08 1866 $1.40

#14

Thanks, Felix. Looking much nicer than the raw cmc prices!
But the heading cps is confusing. It should be pps for price per second?!


#15

fixed. also for fun i did some publicly traded stocks. Although not a fair comparison since some of these companies have paid a lot of money in dividends for the time they existed. And crypto currencies don’t pay dividends. unless you’re Carlos Matos!

company launch mcap days pps
GOOG 1998-09-04 7.53E+11 7438 $1,171.72
AMZN 1994-07-05 8.18E+11 8960 $1,056.65
MSFT 1975-04-04 8.06E+11 15992 $583.34
AAPL 1976-04-01 7.23E+11 15629 $535.42
KO 1886-01-01 2.02E+11 48591 $48.23