Topic: Is 1 Bitcoin equal to half million USD? - page 5. (Read 1084 times)
Well maybe the bitcoin should value half million USD, but this will take time and maybe only after some years will value so much but until then we can try to get some more coins and hold.
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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..
You are comparing apples with bananas here...
Your calculations and assumptions are completely wrong and this discussion is pointless.
The bitcoin price is the combination of btc mining costs+market supply&demand for bitcoins.
You can't compare it the m2 US supply.
1) The OP was not self-proclaimed mad man (John McAfee ) which predicted Bitcoin to hit $1Million per coin by the end of the year 2020 and didn't say when it prediction will happen.
2) When all Bitcoin are mined the coin wikk be scarce and it demand will surpass a lot than the supply. This could make the OP prediction come to pass.
This kind of calculations with Bitcoin does not benefit until it is realized that the value must rise to half a million and the increase in demand is determined by that
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..
Well, if this can only be true then I would not have any problem at all if 1 bitcoin can be worth half a million dollars. However, the comparison and the conclusion may not be that right especially considering that the government has the propensity to print more paper fiat. The supply of the fiat money (dollar in this case) is not a fixed thing as they keep on printing and printing especially when there can be a big crisis on the horizon. And though we usually have the dollar equivalent of bitcoin, it is not tied into it in any way.
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..
You are comparing apples with bananas here...
Your calculations and assumptions are completely wrong and this discussion is pointless.
The bitcoin price is the combination of btc mining costs+market supply&demand for bitcoins.
You can't compare it the m2 US supply.
Comparing the currencies and their respective supplies, you can say that for every 1 btc there are 500,000 dollars.
Interesting that bitcoin will never change: 1 btc will always represent the same percentage of total supply, on the other hand dollar is always changing, as they never stop printing money and increasing supply. By your calculation 500,000 dollars represent 0.0000048% of total, but in some time the same half a million dollars will represent 0.0000038%, 0.0000028%, 0.0000018%...
Interesting that bitcoin will never change: 1 btc will always represent the same percentage of total supply, on the other hand dollar is always changing, as they never stop printing money and increasing supply. By your calculation 500,000 dollars represent 0.0000048% of total, but in some time the same half a million dollars will represent 0.0000038%, 0.0000028%, 0.0000018%...
Your computation is based on bitcoin price has a direct correlation with USD but in fact, we are just using fiat to measure bitcoin value because it is somehow the standard measurement of value. It is still the demand that dictates the price of bitcoin.
If your statement is speculative, then it may happen one day but not because of your calculation. But because bitcoin has reached that price because of the demand.
If your statement is speculative, then it may happen one day but not because of your calculation. But because bitcoin has reached that price because of the demand.
Sounds like you have created your own calculation.
Bitcoin's value is different from fiat.
We all know that Bitcoin is volatile and it's price is indefinite compared to fiat.
Bitcoin's computation has its different menthod and so as fiat.
Bitcoin's value is different from fiat.
We all know that Bitcoin is volatile and it's price is indefinite compared to fiat.
Bitcoin's computation has its different menthod and so as fiat.
This kind of calculations don't work with bitcoin because its value is very speculative in the future and there are different factors that determine what the price will be. USD is the main currency of one of the worldest country in the world and its value is decreasing slowly because more and more supply is created every year so you can't compare that with bitcoin that had a fixed supply available.
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I know using the total US m2 money to predict the price of Bitcoin market was no right but after reading the OP statement twice I now understand that the OP was actually making predictions about the possible price per Bitcoin once the total 21million coins are mine which is the reason why he mentioned "holding 0.0000048% of total btc to be supply."
If that's what the OP presume then there's chance that his calculations are right.
If that's what the OP presume then there's chance that his calculations are right.
Your calculation is wrong as both analogies don't correlect in unity measurement, fiat has to be measured with fiat as per the supply and value at a given time frame, the same with bitcoin. Fiat keeps experiencing depreciation as a result of some economic factor, while bitcoin keeps increasing in value.(it's currently very volatile)
Might be better to use gold. Gold market cap is $7 trillion. By that calculation, given the presumed eventual total Bitcoin supply, a single bitcoin should be currently worth $333,333.
I don't know why you'd use gold as a comparison for Bitcoin, considering that Bitcoin is supposed to be used more as a currency, or at least a method of exchange free from the confines of fiat transactions. Plus, your method of comparing Bitcoin and Gold is flawed, as you're still pricing everything in fiat. Just compare it to fiat from the get-go and you're making a far easier comparison.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
Calculations mean a lot when it comes to wealth, and you can almost predict everything wealth-related from it. Finances are based in math, and you can almost calculate every possible financial outcome using math. Demand can be calculated too, and it's used when determining a price point for a good or service in the financial world. There are entire books dedicated to the study of that one specific type of calculation. 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
Only 21 million bitcoins will be created. That's not even 1 BTC per millionaire in the world. And some BTC will be lost forever, so the number is actually less.
Basic supply and demand dictates it will have a future as long as adoption keeps coming. And as more investors come into the game, that's less BTC to go around as wealthier guys will want to accumulate and hold so they have better chance at controlling prices.
Basic supply and demand dictates it will have a future as long as adoption keeps coming. And as more investors come into the game, that's less BTC to go around as wealthier guys will want to accumulate and hold so they have better chance at controlling prices.
No we couldn't say it unless the demand for it increase and drives the price up to half Million.
If it only works the way you see it then we could all live happy and rich.
But nope the price of crypto isn't base on calculation it is by the demands of the investors.
If it only works the way you see it then we could all live happy and rich.
But nope the price of crypto isn't base on calculation it is by the demands of the investors.
Might be better to use gold. Gold market cap is $7 trillion. By that calculation, given the presumed eventual total Bitcoin supply, a single bitcoin should be currently worth $333,333.
To affirm that, you have to have a vision of the intrinsic value of Bitcoin, because it is very different from the bitcoin price, we can not assume a percentage that is not yet real, what we can assume is that bitcoin will have a very good rally and possible corrections, but this is normal because in the accumulation stage it can last a long time and since it is so high the stage can be prolonged until the majority accumulate so that it is prepared to rise in price, as it happened at the end of 2017 and early 2018.
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?
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?
It might, perhaps at some point when it matures completely, and fluctuations decrease. It could be according to that, 500k would be a ceiling, if the fiat itself wasn't inflated at 2% yearly.
So the answer would be... it might.
If that's the calculation, people should have been millionaires now especially those who have been holding for so long. If we're holding a small percentage of the total supply, it doesn't mean that we're increasing the value of it.
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
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.
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