Topic: So I made some calculations today - page 2. (Read 2977 times)
It doesn't matter bitcoin is nothing in front of the current assets in world but as i said it doesn't matter because it is surely considered by many the most profitable source and also the easiest. Gold will have more numbers because it is way older than bitcoin. What makes these figures fail is bitcoin has a limited supply meaning in future having 0.002% it will still have more value than the remaining 50%
So I made some calculations today.
The total world's wealth is estimated around $241,000,000,000,000 (source), the total value of all the gold in the world is $7,290,669,617,313 (source) and bitcoin's market cap as of now is $6,382,047,520 (source).
This basically means that gold represents 3% of the total world's wealth and that bitcoin is only worth 0.0026% of it. In other words, by comparing bitcoin directly to gold: the total value of all bitcoins is 0.087% (or 1/1142) of the total value of all the gold that there is. Looking at it from this point of view bitcoin can easily get to 4 digits. It then seems pretty down-to-earth to say that we will definitely get there before 2020 if nothing goes wrong. 6 digits though, would put us very close (or even above) gold's value, which is hard to imagine at the moment. The millions have already been made but there is still a lot of money to be made with bitcoin and we now have something that pioneers didn't have: stability. Stability is a great thing because it allows for a reliable store of value. I thinks we've actually reached a pretty good balance between prospects and safety of investment.
In other words: we're only waiting for metallurgists to find a way to melt tungsten and gold together. Ok we might have to wait for a while
.
(Also, Ethereum's market cap is already $1,061,551,795, roughly 17% of bitcoin's. Meanwhile everyone is still wondering what the heck it can be good for and no one seems quite sure that the price is high enough as is.)
The total world's wealth is estimated around $241,000,000,000,000 (source), the total value of all the gold in the world is $7,290,669,617,313 (source) and bitcoin's market cap as of now is $6,382,047,520 (source).
This basically means that gold represents 3% of the total world's wealth and that bitcoin is only worth 0.0026% of it. In other words, by comparing bitcoin directly to gold: the total value of all bitcoins is 0.087% (or 1/1142) of the total value of all the gold that there is. Looking at it from this point of view bitcoin can easily get to 4 digits. It then seems pretty down-to-earth to say that we will definitely get there before 2020 if nothing goes wrong. 6 digits though, would put us very close (or even above) gold's value, which is hard to imagine at the moment. The millions have already been made but there is still a lot of money to be made with bitcoin and we now have something that pioneers didn't have: stability. Stability is a great thing because it allows for a reliable store of value. I thinks we've actually reached a pretty good balance between prospects and safety of investment.
In other words: we're only waiting for metallurgists to find a way to melt tungsten and gold together. Ok we might have to wait for a while
.(Also, Ethereum's market cap is already $1,061,551,795, roughly 17% of bitcoin's. Meanwhile everyone is still wondering what the heck it can be good for and no one seems quite sure that the price is high enough as is
.)I don`t know why do you have to make such calculations?
Gold is a physical accet.To have bitcoins you need electricity,internet connection and a computer.
There`s no need to compare gold vs. bitcoins.
To have gold you need secuity and a gov who will let you, also need transportation if you are going to use it. I think people compare BTC to anything, its just that gold is the big one to go after since its always been known as the closest thing the real concept of what money is.
Bitcoin will worth more then gold one day when it mainstream as you can store more bitcoins then gold as good take time and effort to story buy and sell when bitcoins ate digital so takes less time effect and space.
Bitcoin is much better than gold in many ways, it has a faster rising value which makes it a very good short term investment, the gold on the other hand just rises slowly but it will never go down, and people trust it because they have used it for many years now, unlike bitcoin which is a new thing but hopefully it will become more popular in the future.gold also ever go down its price just like bitcoin but not as volatile as bitcoin does
So I made some calculations today.
The total world's wealth is estimated around $241,000,000,000,000 (source), the total value of all the gold in the world is $7,290,669,617,313 (source) and bitcoin's market cap as of now is $6,382,047,520 (source).
This basically means that gold represents 3% of the total world's wealth and that bitcoin is only worth 0.0026% of it. In other words, by comparing bitcoin directly to gold: the total value of all bitcoins is 0.087% (or 1/1142) of the total value of all the gold that there is. Looking at it from this point of view bitcoin can easily get to 4 digits. It then seems pretty down-to-earth to say that we will definitely get there before 2020 if nothing goes wrong. 6 digits though, would put us very close (or even above) gold's value, which is hard to imagine at the moment. The millions have already been made but there is still a lot of money to be made with bitcoin and we now have something that pioneers didn't have: stability. Stability is a great thing because it allows for a reliable store of value. I thinks we've actually reached a pretty good balance between prospects and safety of investment.
In other words: we're only waiting for metallurgists to find a way to melt tungsten and gold together. Ok we might have to wait for a while.
(Also, Ethereum's market cap is already $1,061,551,795, roughly 17% of bitcoin's. Meanwhile everyone is still wondering what the heck it can be good for and no one seems quite sure that the price is high enough as is.)
The total world's wealth is estimated around $241,000,000,000,000 (source), the total value of all the gold in the world is $7,290,669,617,313 (source) and bitcoin's market cap as of now is $6,382,047,520 (source).
This basically means that gold represents 3% of the total world's wealth and that bitcoin is only worth 0.0026% of it. In other words, by comparing bitcoin directly to gold: the total value of all bitcoins is 0.087% (or 1/1142) of the total value of all the gold that there is. Looking at it from this point of view bitcoin can easily get to 4 digits. It then seems pretty down-to-earth to say that we will definitely get there before 2020 if nothing goes wrong. 6 digits though, would put us very close (or even above) gold's value, which is hard to imagine at the moment. The millions have already been made but there is still a lot of money to be made with bitcoin and we now have something that pioneers didn't have: stability. Stability is a great thing because it allows for a reliable store of value. I thinks we've actually reached a pretty good balance between prospects and safety of investment.
In other words: we're only waiting for metallurgists to find a way to melt tungsten and gold together. Ok we might have to wait for a while
.(Also, Ethereum's market cap is already $1,061,551,795, roughly 17% of bitcoin's. Meanwhile everyone is still wondering what the heck it can be good for and no one seems quite sure that the price is high enough as is
.)I don`t know why do you have to make such calculations?
Gold is a physical accet.To have bitcoins you need electricity,internet connection and a computer.
There`s no need to compare gold vs. bitcoins.
Bitcoin will worth more then gold one day when it mainstream as you can store more bitcoins then gold as good take time and effort to story buy and sell when bitcoins ate digital so takes less time effect and space.
Bitcoin is much better than gold in many ways, it has a faster rising value which makes it a very good short term investment, the gold on the other hand just rises slowly but it will never go down, and people trust it because they have used it for many years now, unlike bitcoin which is a new thing but hopefully it will become more popular in the future.This is generally not applicable. The price of gold goes up and down, not as bitcoin's price but if anybody sees the price of gold globally will notice that sometimes descends and is natural in buy/sell markets. In cases of financial instability the price rises, while when there are better prospect for development and more money are invested then it goes down. Always the objective is a trade-off between fiat and gold
Its a terrific calculations you really do your research. Bitcoin could actually hit and can compete with gold if another 10 years will be given to bitcoin but the threat of fiat virtual currency is bugging me now. Its the ultimate threat to bitcoins but if bitcoin overcomes that threat and continue to flourish then there is no stopping for bitcoins to reach a higher stage in the world economy.
Bitcoin will worth more then gold one day when it mainstream as you can store more bitcoins then gold as good take time and effort to story buy and sell when bitcoins ate digital so takes less time effect and space.
Bitcoin is much better than gold in many ways, it has a faster rising value which makes it a very good short term investment, the gold on the other hand just rises slowly but it will never go down, and people trust it because they have used it for many years now, unlike bitcoin which is a new thing but hopefully it will become more popular in the future.
Bitcoin will worth more then gold one day when it mainstream as you can store more bitcoins then gold as good take time and effort to story buy and sell when bitcoins ate digital so takes less time effect and space.
Based on what can you conclude that it is very easy for bitcoin price to be 4-digits, these long number are far away from the bitcoin total market cap but I think that to have a 4-digit price bitcoin should be developed and adopted gradually time by time from different big merchants.
The 4-digit valuations would be possible if there were simply more people buying and less people selling (as it goes for basically all things to be honest), and because of this, while it is possible, we likely won't see it for still a little while yet. I believe we could see some of these things becoming a reality within the next five years, but I personally hope it doesn't take that long.The $1000 price could only be reached when the block size to be incrased to more than 1MB or even higher.
It has been 2 months since I speculated about the $1k and seems that it happened faster that we expected, so it's not all about the block size but is about adoption and people's usage and many more.
The problems with stuck BTC transactions and memory pool overflow was caused not by high number of organic transactions but rather by high number of dust/fake transactions aimed to cripple the network.
Based on what can you conclude that it is very easy for bitcoin price to be 4-digits, these long number are far away from the bitcoin total market cap but I think that to have a 4-digit price bitcoin should be developed and adopted gradually time by time from different big merchants.
The 4-digit valuations would be possible if there were simply more people buying and less people selling (as it goes for basically all things to be honest), and because of this, while it is possible, we likely won't see it for still a little while yet. I believe we could see some of these things becoming a reality within the next five years, but I personally hope it doesn't take that long.The $1000 price could only be reached when the block size to be incrased to more than 1MB or even higher.
It has been 2 months since I speculated about the $1k and seems that it happened faster that we expected, so it's not all about the block size but is about adoption and people's usage and many more.
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With so much money people have and to replace them witj totally bitcoins it would require a lot of time .maybe thr estimated time would be 20 -30 years and by then the price of bitcoins would be 30000 dollars .
i wonder if i can still alive for that years because if we only waiting for that a long time without doing nothing then it will not good for us and we don't make our bitcoin is grow, we only spend our time with nothing and only wait. bitcoin is a long journey for us to follow, we can only make prediction how far bitcoin can online and with almost 8 years from beginning, bitcoin have a good history for many people and now we can see that the price of bitcoin is slow but sure will be up.
With so much money people have and to replace them witj totally bitcoins it would require a lot of time .maybe thr estimated time would be 20 -30 years and by then the price of bitcoins would be 30000 dollars .
This basically means that gold represents 3% of the total world's wealth and that bitcoin is only worth 0.0026% of it. In other words, by comparing bitcoin directly to gold: the total value of all bitcoins is 0.087% (or 1/1142) of the total value of all the gold that there is. Looking at it from this point of view bitcoin can easily get to 4 digits.
You can't really make wedding rings out of bitcoin, so it has some limitations gold does not have...It makes no sense comparing the value of x to the value of y. You can't just exchange them. The value of apples on earth for example is a lot less than the value of bitcoin. And yet, it has nothing to do with it. You can't say "let's replace all apples by bitcoin", just as you can't replace all gold by bitcoin.
Bitcoin need at least 10-20 years to come into mainstream. Price should be +$20,000. But we'll see.
I see a serious limitation from the blockchain there... As long as "the ones in power" don't make it possible to do - say - 1000 times more transactions, why should the value go up 50-fold? You can't have mass adoption if the blockchain is already pushed to its limits.Talking about bitcoin become mainstream currency and accepted by Gov mostly in every country may take less than 20 years, nearly 10 years later regarding today adoption and the price just reach $700.
I like this kind of calculations, and this one shows how much more bitcoin need work to go up. There is a lot of space for bitcoin to make progress, in future with this tempo bitcoin can worth as gold, lets not make any predictions when will that happen, important thing is that is possible to happen one day.
ETH achieved a lot for the time they are here, more then many other coins, their fast grow maybe can continue in next year. Who will say that, I think its good for bitcoin to have a little competition in other alt coins. That is always a good thing, that can make bitcoin even stronger one day.
ETH achieved a lot for the time they are here, more then many other coins, their fast grow maybe can continue in next year. Who will say that, I think its good for bitcoin to have a little competition in other alt coins. That is always a good thing, that can make bitcoin even stronger one day.
if this world was already modern from when gold was known or atleast bitcoin and gold known at the same time,then both will have competition,it's actually just a little bit not fair if you're comparing gold to bitcoin if it's about total market cap whilst gold exist from thousands year ago
For something like this to happen, you need mass adoption of Bitcoin worldwide, 4 years is too short. Gold is acknowledged by everyone to be valuable, it is something tangible that even people in their 80's or older can easily recognize. Bitcoin is a new generation thing and at the moment attracts only people that are technologically savvy. When we've reached a point where the oldest person on earth was born after Bitcoin was created, Bitcoin will have been universally assimilated. Of course we might not need to wait that long 
Many people already have a lot of cryptocurrency. Now we announce that crypto currency is like shares of the company "the future of Money", and start to trade them on the exchange for real dollars. Set the market price. She's growing up, because wanting to touch the money of the future a lot, and handed out for free 25 coins every 10 minutes to one, and still have to solve puzzles in General, it is easier to buy.
+1
Bitcoin need at least 10-20 years to come into mainstream. Price should be +$20,000. But we'll see.
Bitcoin need at least 10-20 years to come into mainstream. Price should be +$20,000. But we'll see.
We will not have to wait that long. Things are developing very fast these days and if Bitcoin will become mainstream like other currencies that will happen much sooner, 5-7 years at most.
Altgough I'm not sure about the price, it seems a bit too excessive. It will go up a lot with time, that I agree. Still, that much....But like you've said we'll see.
Just the fact that only recently, Steam has adopted Bitcoin is pretty good news and I wouldn't be surprised if Amazon would offer Bitcoin support in the next couple of years.
Bitcoin is still new for many as most people don't even know what it is, while Gold is being used since ages and will get used till many more ages.
Where Gold which was barter-traded for things before, it is not easy for Bitcoins to take its place that easy.
Where Gold which was barter-traded for things before, it is not easy for Bitcoins to take its place that easy.
All that is true, but I'm sure it will all be replaced with bitcoin. Now that more and more people are looking for something that can be sold in a short time at a price that could rise with the fast way anyway. It is not owned by the gold so if we can promote bitcoin well then it would be a great advantage for all of us and the growth of the bitcoin
I did like to know such information, and its amazing how much gold does influence the global economy already, but focus into bitcoin, thats a new coin compared to fiat as well gold, in 7 years bitcoin has a small community and just some people do know and have bitcoin, soo lets give more 7 years to see what bitcoin had becamed against the others, i really believe bitcoin will reach gold value if not cross it.
Bitcoin is still new for many as most people don't even know what it is, while Gold is being used since ages and will get used till many more ages.
Where Gold which was barter-traded for things before, it is not easy for Bitcoins to take its place that easy.
Where Gold which was barter-traded for things before, it is not easy for Bitcoins to take its place that easy.
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