Topic: Is 1 Bitcoin equal to half million USD? - page 4. (Read 1083 times)
In my opinion, such a comparison makes no sense. Why did you decide to equate the amount of money supply in dollars to the total supply in bitcoins? Why such a comparison can not be made to the euro, yuan, or other currency? And what is the practical meaning of this comparison? There is no relationship between the volume of money supply of any state and the volume of cryptocurrency.
That is only possible to be assumable if in fact we replace every fiat and all other Alt coins or anything currency related that provides some sort of equal value as Bitcoin.
So no we can not mention 1x Bitcoin being $500.000 in the end
So no we can not mention 1x Bitcoin being $500.000 in the end
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
No, in my opinion the calculation is not that simple, Bitcoin has a supply and while the USD does not. the government is running out of usd, they just have to reprint, and this is why we can't compare these two things in this way. on the other hand, interest, USD has a higher interest than crypto at the moment.
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
It is impossible for bitcoin to move up. In fact, it is hard to break the resistance level at 20K dollars since it will be the highest price of bitcoin today. However, I don't know if it will happen in the future. But let us wait till the time decides for bitcoin. Maybe, soon it will rise like that once it will become the primary currency in the world. According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
This is an interesting idea, but why limit it to the American dollars, why not include the whole worlds fiat money supply, then the price of bitcoins would probably be 5 times higher than in your example.
It is necessary to take into account the capitalization and reputation of the coin that determine its value. Therefore, your calculations are not entirely correct. In crypto, another logic works.
Nice and simple analysis, now I am more inspired to hold at least 1BTC for long term.
The question that is in my mind now is when are we going to see bitcoin at that price, maybe if it will happen in 10 years from now, I can still enjoy that money, but if it takes longer, maybe I can't enjoy it anymore.
I don't completely agree with the computation because I know bitcoin price will achieved that high, provided bitcoin will be mainstream.
Imagine the big effect of the loss supply while the adoption continues, small effect for now but we shall see that big effect in the future.
The question that is in my mind now is when are we going to see bitcoin at that price, maybe if it will happen in 10 years from now, I can still enjoy that money, but if it takes longer, maybe I can't enjoy it anymore.
I don't completely agree with the computation because I know bitcoin price will achieved that high, provided bitcoin will be mainstream.
Imagine the big effect of the loss supply while the adoption continues, small effect for now but we shall see that big effect in the future.
The funny thing is that the US is printing $$$ like most toilet paper manufacturing industries are printing toilet paper and the Dollar is losing it's buying power, so your $500 000 will not buy you a roll of toilet paper in the near future, if things continue at this trend. 
It's like saying that you own 3,000,000,000 Kazakhstani Tenge, if you own 1 Bitcoin, wich might be true, but it is absolutely worthless if you look at the massive amounts of Tenge that are printed.
It's like saying that you own 3,000,000,000 Kazakhstani Tenge, if you own 1 Bitcoin, wich might be true, but it is absolutely worthless if you look at the massive amounts of Tenge that are printed.
If you see Bitcoin came to the market at the beginning of 2009and today's 2019 BitCoiner has completed 10 years of age. And at that time the price of Bitcoin was 6000 rupees and today for Bitcoin and Market Demand, a bitcoin is worth 5,5000 rupees which is a good result. Today, 1 bitcoin is standing at half a million rupees, but one time came when 1 bitcoin will mean 1 million, and that day will come very soon. !!!!!
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
That is only in the US my brother, think about the rest of the world. I am very positive that the next 2-3 years, we will see btc hitting its maximum value and I know that it's going to $1M or a bit less that that. The 'claimed time travellers', prophecies and even the next 5 year charts ta of several insitutions are showing a huge price of btc in the making.
That is not how the conversions work. If you're calculations are true then a lot of us are millionaires now and the whales are more richer than they are expected. There is a fault in your calculations surely.
Best to say, if this will happen every crypto holders are lucky to receive the value amount of their hold coins, but it will take long time or it will nothappened everything will continue to depend from the demands and supports of those investors to reached much higher value.
I believe that comparing such things is absolutely not correct. In essence, the US economy stands behind the dollar. US GDP as well as debt obligations and their implementation provide the price and stability of the dollar. So there are other factors, but I will not list them. Bitcoin is an asset whose value is equal to the cost of interest to it from investors. Bitcoin is not backed by anything. Only in demand. If there is no demand for it, then it will not be worth anything. Like many of the altcoins now. With the dollar this will never happen, because the dollar is partly secured by gold, state assets and state obligations.
That is not how the conversions work. If you're calculations are true then a lot of us are millionaires now and the whales are more richer than they are expected. There is a fault in your calculations surely.
Nope wrong computation we should knows bitcoin is based on the dollar rate so at this recent price of bitcoin if not wrong the 7,700$ so meaning 1 bitcoin is depends in price equivalent.
Bitcoin is not based on the Dollar rate. That would be tremulous reality. Bitcoin is exchanged for a certain value in USD, sure, but that is not because BTC is based on USD value.
However, it is important to keep in mind that this is a scarcity comparison. OP should have mentioned that under the circumstance where BTC market cap has reached 10.5 trillion usds.
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
Interesting analogy , but I don't think you owning 1 Bitcoin does not mean its worth half a million USD. How can you do this assumptions and concluded that 1 BTC is equal to $500k? Please I think you should reconsider this your calculation and assumptions.
Nope wrong computation we should knows bitcoin is based on the dollar rate so at this recent price of bitcoin if not wrong the 7,700$ so meaning 1 bitcoin is depends in price equivalent.
So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
No because we all know that it doesn't work that way .According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
If you would put everything on that calculation then we would all be super rich by now all of those shitcoin would have a great value.
But it is the demand who determines the real price of a crypto not on how you calculate it.
I think most of you are missing the point here.
OP might have compared the scarcity of Bitcoin vs the Scarcity of USD and in that context, OP is perfectly right that 1 BTC is equal to a theoretical value of 500k USD
But for it to be practical, Bitcoin's market cap would have to be 10.5 Trillion, that is as big as the 2013's M2 money supply that OP spoke off. And since USD is constantly getting inflated, something Bitcoin will never have, by the time Bitcoin's market cap is 10.5 trillion, BTC might be well beyond the 500k mark.
Remember, this is seemingly a scarcity comparison rather than actual value comparison.
OP might have compared the scarcity of Bitcoin vs the Scarcity of USD and in that context, OP is perfectly right that 1 BTC is equal to a theoretical value of 500k USD
But for it to be practical, Bitcoin's market cap would have to be 10.5 Trillion, that is as big as the 2013's M2 money supply that OP spoke off. And since USD is constantly getting inflated, something Bitcoin will never have, by the time Bitcoin's market cap is 10.5 trillion, BTC might be well beyond the 500k mark.
Remember, this is seemingly a scarcity comparison rather than actual value comparison.
I think you are on point about the scarcity comparison..this is very similar to that tweet that went viral recently about 1 bitcoin being equal to about 700 acres of land..
~edit~
https://twitter.com/francispouliot_/status/1134970626215518209?s=12
I think most of you are missing the point here.
OP might have compared the scarcity of Bitcoin vs the Scarcity of USD and in that context, OP is perfectly right that 1 BTC is equal to a theoretical value of 500k USD
But for it to be practical, Bitcoin's market cap would have to be 10.5 Trillion, that is as big as the 2013's M2 money supply that OP spoke off. And since USD is constantly getting inflated, something Bitcoin will never have, by the time Bitcoin's market cap is 10.5 trillion, BTC might be well beyond the 500k mark.
Remember, this is seemingly a scarcity comparison rather than actual value comparison.
OP might have compared the scarcity of Bitcoin vs the Scarcity of USD and in that context, OP is perfectly right that 1 BTC is equal to a theoretical value of 500k USD
But for it to be practical, Bitcoin's market cap would have to be 10.5 Trillion, that is as big as the 2013's M2 money supply that OP spoke off. And since USD is constantly getting inflated, something Bitcoin will never have, by the time Bitcoin's market cap is 10.5 trillion, BTC might be well beyond the 500k mark.
Remember, this is seemingly a scarcity comparison rather than actual value comparison.
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
I don't think the two can be equated and you count the wrong comparisons to produce a false statement.
ROFL,
You forgot the main thing that dictates the price on everymarket,the demand.You cant just simply calculate things and convert it to something,if then we all people should have been rich no one is starving no ones poor.Math isnt everything dont put money fortune on just pure calculations
You forgot the main thing that dictates the price on everymarket,the demand.You cant just simply calculate things and convert it to something,if then we all people should have been rich no one is starving no ones poor.Math isnt everything dont put money fortune on just pure calculations
absolutely right, prices are determined by demand and supply where when demand is greater than supply, prices will continue to rise. And it needs to be underlined, the price is not determined by the stupid calculation as above, it is very unreasonable and it is only children's math.
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