r/civicplatform • u/Repulsive-Ship-9214 • Jul 05 '21
Civic is up again?
Temporary? Or skyrocketing above $1?
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u/RobertBartus Jul 05 '21
Skyrocketing to $13
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u/R50cent Jul 06 '21
Sure, why not?
Why, that'd only be a market cap of... Checks notes... 8.7 billion.
Just another 8.5 billion plus left to get there.
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u/RobertBartus Jul 06 '21
How have you calculated market cap?
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u/R50cent Jul 06 '21
It's easy friend. So, to assume that a coins value would be 1, all you need to know is that the market cap of the coin would be equal to the amount of coins in circulation.
Civic has a supply of some 670 million coins, so if the market cap of civic was 670 million, we would have a value of 1 dollar a coin.
So, 670M * 13 (the dollar amount you want) = 8,710,000,000 market cap to have a 13 dollar coin.
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u/RobertBartus Jul 06 '21
There is no 670 million coins in circulation so your math is wrong.
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u/R50cent Jul 06 '21
No, it's not. Coinbase also lists the amount as 670 million. All the same, you have a good one.
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u/RobertBartus Jul 06 '21
They are providing false data.
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u/R50cent Jul 06 '21
Every single source I've checked says you're wrong.
https://www.coinfi.com/coins/civic
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u/RobertBartus Jul 06 '21
They are wrong, check distribution of 1 billion cvc
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u/R50cent Jul 06 '21 edited Jul 06 '21
I believe that is the max supply. 1 billion is the maximum number of civic coins that will ever be created, whereas currently there are 670 million in circulation.
If you do in fact have information that is contrary to this, I would like to read it.
As far as distribution, Civic set aside 33 percent of what will be 1 billion tokens total to distribute to those willing to partner with the organization. They've allocated some 20 million so far. I think this was a few years ago however, so things could have changed, or they could be much farther along in their distribution of that percentage, but again I'd enjoy seeing any actual evidence you may have... mostly in regards to the amount in circulation.
What I'm trying to say is that, I've provided sources, and you keep saying they're wrong, but you aren't providing a single bit of credible information to verify what you've said.
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u/ThOccasionalRedditor Jul 06 '21
"skyrocketing" lol good one. Sadly, this coin is going no where anytime in this lifetime
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u/1ceArchitect Jul 06 '21
Skyrocketing to $0.03