Thanks for that post - now that's something to work with!
The Gross World Product (GWP) is currently around 80 trillion US$. (That's a US trillion, a British billion.)
Wouldn't the GWP be all the money the world economy turned over in a given period of time? How is that related to M2, M3 or whatever?
When you got some money on your account or under your mattress, it counts for the M's, but doesn't do anything, so doesn't count for the GWP.
So, if today you managed to mine the entire 21 million BTC and replace all fiat currency with it, 1BTC would be roughly equal to 3,800,000 US$.
Wow, that's a lot of $ for 1 BTC! Now, if you only took the BTCs currently in existence for that calculation, you would even get 6,500,000 US$ for 1 BTC!
However, the GWP grows approx. 3% per year, making BTC worth way more by the time it's all mined should it replace fiat.
Good point! Then, one could debate about the calculation of the GWP anyways, so it's all very complicated.
Furthermore, I don't believe the official GDP numbers for a second, they are "managed" intensely by the governments, especially the US one. Just calculating the US GDP with the real inflation would mean a negative growth for the US - which is exactly what is taking place! Europe is fucked as well.
In any case, we can see that all of those calculations are just a very rough number and you could calculate the variables in many different ways.
And, despite what we all wish, unless you had a hegemony that adopted BTC, you wouldn't replace all fiat. And, BTC being a pretty libertarian currency, I highly doubt most BTC proponents want a world government.
I totally agree. This is just to get a feeling for the current evaluation, and this seems to be even better than I thought...
BTC to $100,000 is good enough for me...!
