Topic: If Bitcoin became the world (Reserve) currency - page 6. (Read 11594 times)

I wasn't speculating when it would become the worlds currency, I was simply speculating when we take the next factor of 10 climb up the ladder to 0.1% of m3

Much more if ever.

i think bitcoin or a derivative of bitcoin will be the worlds reserve currency in the future
fiat is too slow and clumbsy and untrustworthy for nations
if you hold other nations fiat... u dont know how much they are inflating your holdings
plus by holding their currency you are supporting their government/policies

Great job dev Team! your hard work is reflected in the recent price. I will keep waiting.

I actually budget a set amount of fiat each month to buy BTC regardless of price. Once I close my mortgage I plan to up it rather dramatically. 

I fear the recent slump to ~$400 will be the last of the 3 digit regions. If you cant buy a chunk, do what I am, purchase  using dollar averaging over the next few months.

Still need a few years to go. Not easy to become the world currency!  When the price is down to a low level, I will buy more to save for the future.

My liberal arts college education says I need more bit coin and a better education.  

Yeah, I don't want to be in just the top 18%. That's barley comfortable by western standards. I''d like top 5%
 

I reckon one day those BTC6 will put you in the worlds top 1%

My Systems Engineering gut says Q5 2015 we will see the 1% shift...hedging 6BTC over the next 3 months towards that shift.

If you understand bitcoin, you have to acknowlege it's possible that one day national currencies will become a thing of the past, and the world will run on bitcoin.

So I found myself wondering how many bitcoin I would need tucked away in cold store to be wealthy in such a scenario.
There are different ways of calculating this:

BTC21,000,000  Issued (eventually) / 7,200,000,000 people in the world = BTC0.002916 average per head

But the world is not equal, the top 18% of the world currently own 82% of it, so what would I need to be in that top 18%?

21000000/(7200000000*.18) = BTC0.016

I'm sure I can find BTC0.016 to tuck away as a hedge for the distant future!

However, before this switch happens we are going to get degrees of moving away from  fiat currency to bitcoin, so what might the value of bitcoin
be at different points on that ladder? Well if we base out calculations on M3 (broad money) of which there is currently about $100 trillion, we can peg out that ladder, and also infer by the current BTC price where we are currently on the ladder:

Transition
100% = (M3)100,000,000,000,000/21,000,000 = $4,761,904 = BTC1
10%   = $476,190 = BTC1
1%     = $47,619   = BTC1
0.1%  = $4,619     = BTC1
   PASSED NOV 2013
0.01% = $476       = BTC1
   PASSED JUNE 2013
0.001% = $47       = BTC 1

So with:

i.    About 30 of the worlds currencies having serious inflation problems (out of 180 ish) driving people to exchange their local currency for BTC to protect themselves from inflation.
ii.   About 60,000 retailers accepting bitcoin now.
iii.  VC Funds have already invested more than double they did last year in BTC projects (5 months in to year!)
iv.  Legislaters starting to react to BTC

Who thinks it will take more than 12 months to reach the next level? $4619

I certainly don't!