Topic: $500,000 per Bitcoin, baby. The math behind it. - page 3. (Read 23668 times)

Agree without a big impact from market bitcoin will not reach with that price because i couldnt think that the price will be at that peak though nothing is impossible with bitcoin if almost of the people here is using it as a means of payment then i think it will . But now i think it really takes time first before reaching it.

I'm not sure the price bitcoin could reach $500.000 without exceptional events. the unusual examples are: bitcoin used officially by a State, thus triggering the whole citizens buy bitcoin so prices skyrocket.

Well, thanks for your logic. It would be nice to have more detail but I suppose you did provide a link for us to explore.

By the way, you're math is wrong...which is ironic given that the headline of your post highlights "the math behind" the idea.

$8,500,000,000,000 / 12,000,000 = $708,000.

BUT, your post is from 2014 and it's 2017 now and we've got 17 million coins in existence, so based on your math the projected price per coin would go down to about $500,000 (so your answer is still correct.)

^Agree. Targets in my head about bitcoins for '27 are ~$10K. So this story has some logic. 

I can definitely see bitcoin becoming the global e-commerce currency during the next 10 years if we get our shit together and activate segwit so lightning network is working at its full potential and tons of transactions per second, instant and almost free, are possible, that's when bitcoin usage will explode.

This at least have some reference why he came out with that statistics.  There might be an error in the calculation but I think it is better than others who are just putting random thing in the calculation.  What I mean is the given figure is very possible but the problem would be when will those prices happen.

I never thought of max value of Bitcoin, but yes I agree it exist. This picture is nice, but what most people dont see, that Bitcoin price is many factors together. It is hedge founds allocations, it is gold holders diverts some % of their holdings in BTC, it is some % of black market is done in BTC.  So on my opinion price can  reach over one million USD. Even if USA inflation is similar as today. But of course that will not happen that fast. Can take decades.

Not everything you see on the internet should be taken as true, of course, but there are certain analyzes that make sense. I don't think the price will reach the $ 500,000 range for years to come, but I think it's possible to see Bitcoin reach the five digits in less than three years.

This is what they see in the future of bitcoins, maybe im already dead when bitcoin reach the $100k price that have been dreaming by some bitcoin holders.that will be the start of a new era.

Lots of people say lots of things, but just because somebody on the internet says something doesn't make it true. I'm hope for the best but I still feel skeptical.

I saw another analysis that presents the possibility of Bitcoin reaching the $ 25,000 range, and I think that's a possible value, even though the odds are low. But a price in the $ 500,000 range, even if achieved, would take more than a decade to happen, and for that it would be necessary for Bitcoin to be recognized as a currency by a very large number of people around the world.

This is very interesting - thanks for re-posting it. Can you please post current numbers in this formula? P = (6(50/2e) + f)(x)(1 - g)/c [kW]

In your opinion what is the current maximum non-bubbly price?

To build upon BurtW's work, it may be worthwhile to ask ourselves 'what is a reasonable share of the world's power production for Bitcoin mining to consume?'.

The Financial industry currently accounts for about 9% of US GDP.

Lacking any data one way or the other (i.e., as an initial conjecture), let us posit that this industry consumes power proportional to its share of GDP. Accordingly, let us posit that this financial sector consumes 9% of the world's (I made a leap there from US to global) power.

As Bitcoin increases in value, it seems absurd to think that it could do so without cannibalizing a fair share of the financial sector's share of GDP. Just as a hypothetical, let us assume that Bitcoin (i.e. direct p2p finance) can displace half of the financial industry.

Accordingly, let us allocate 4.5% market share -- and thereby power consumption -- to each of Bitcoin and legacy finance.

That would put us somewhere in the middle of era 3 for $500,000 per BTC, without increasing carbon footprint. Not too shabby.

Obviously, there are several SWAG proportion guesses that need analysis. But this framework may be helpful for sorting 'how bad is Bitcoin for the ecology?' issues.

Or from and alternative viewpoint, if Bitcoin were to increase to $250,000 per in the next several years, the issue of unemployed bankers would be a bigger problem than anthropogenic global warming. Oh-the-huge-manatee.gif

$7,333,755,829,104

Yep - That's trillions Based on current spot gold price of  $1,222.84

http://onlygold.com/Info/All-The-Gold-In-The-World.asp

If there is one thing to make to barbaric relic to go away it will be Bitcoin.

Gold market cap / Bitcoin market cap (minus 1 million BTCs lost) => ~ 366 000 USD per 1 BTC

Yes $500k per 1 BTC doesn't seem unreasonable in next 15 years or so. Even today (I mean right here, right now) with all the problems Bitcoin has (and there is plenty - such as it doesn't scale well) it's already superior to gold so I don't see a reason why it shouldn't be on par with gold.

That's pretty neat graphics! I agree that we haven't passed early adopter phase yet, but it's becoming to early majority day by day. One last big pump in 1-2 years will take us to early majority phase; more news, more adoption and faster adoption rate... I'm a strong believer that banking system will fail and Bitcoin will achieve 7 digits one day. We'll witness history.

That's because you prefer math over graphic (without numbers).

I prefer graphic :





https://www.youtube.com/watch?v=-0kRLvpDBSY

This price will not be reached for many decades!Probably never!
$10.000 is something you could aim for if you're still young and have a long breath.
Why should Bitcoin disappear? It's THE Blockchain!! All the other stuff seems to be irrelevant. Sure this doesn't mean Bitcoin can't be replaced, but I'm sure it will not disappear!

Alibaba.com. They are sponsoring the IOC on the next Olympics. Maybe eBay or Amazon are more in the known, but in comparison they are rather lightweights.
And neither eBay nor Amazon will get away from dollars, not even the tiniest step. Trust me on that.

If that happens, it will take decades, $500,000 is an exaggeration under current conditions. However, maybe it will not take that long to see Bitcoin in the $ 10,000 range. There are some scenarios that may help Bitcoin follow this path, but that will depend on things that would take many years to happen.

One of these scenario would be one in which large companies such as amazon.com and ebay.com decided to adopt the currency. That would generate an incredible demand, and given the fact that Bitcoin is scarcer than most people think, it would be possible to see the price reach very high levels.