Topic: So I made some calculations today - page 3. (Read 2953 times)

The new 0.13 Core Client has been released. The SegWit has been implemented. So the price could rise.

There are a lot of ifs for that price to be attained. Achieving the trust of people is not easy. People trust gold (and dollars) because it has been around for a long time. Bitcoin was born yesterday, 

Economics and the free market, and of course the price is depends from supply and demand. When Bitcoin enters to the mainstream, we can not predict, but we can certainly predict that at the time when all coins will be extracted  (about 21 million), run out the possibility of supply, and demand will grow = price will rise! ..and will rise very very fast!

I think $20,000 is a reasonable price for Bticoin if it will be fully adopted. Actually the price might go much higher if most people would start trusting Bitcoin more than other currencies, but we can't guarantee that that will happen. But $20k might be reached due to wider adoption alone: people will start buying coins and since we can't make more of them than is made in a certain period of time, the natural response to the higher demand will be the rising of the price.

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.

That would be a rough estimate of money being in circulation. Of course bitcoin has a small market capitalization compared to gold and fiat. Bitcoin just started, and the overall bitcoin in circulation is just limited on my opinion.Even if bitcoin will increased in value, still its minimal compared to fiat currency. Maybe they should add more bitcoins, but it could lower its value

The $1000 price could only be reached when the block size to be incrased to more than 1MB or even higher.

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.

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.

Today came the time that will determine the future of cryptocurrencies. All known restrictions on the use of Bitcoin in some countries at the legislative level. At the same time, the United States is very much discussion of the future prospects of cryptocurrency development, give positive feedback when using Bitcoin. The EU authorities said that they plan to tackle trafficking in cryptocurrency and try to regulate it. The main initiator of the future of cryptocurrencies is the German Central Bank, which not only gives recommendations on the use of cryptocurrencies, but also discusses the prospects for further development with other Central banks of Europe.

Actually, if Bitcoin's price goes up, wealth is created. It is not just because the last person poured in some money. It is because the valuation of all bitcoins has increased in people's eyes.
 
If Bitcoin goes to zero, wealth is destroyed.

I realized something else: you are comparing "money" and "wealth", while the two of those aren't directly related.
Suppose bitcoin would go up in value and be worth 100 times more. Market cap would be around 6 trillion dollars. You would say wealth went up, right? But in reality it only moves from one person to the other, as nothing more is produced because of it.
Just like increasing prices of all products does not make us more wealthy, even if our salary increases with it.
Owning more money would make me wealthier, but only if someone else loses money over it. Not if we all get more money.

The weird thing about money is: the more you think about it, the more you realize you don't understand what it is.

I think that you can't compare world's wealth with Bitcoin's (or gold's) market cap. Many people are comparing Bitcoin with fiat money, so let's assume they are right (though I'm not sharing their opinion). I haven't made any research recently, but I believe that money in circulation around the world are rougly $75 trillion, which gives 10% for the gold.

I think the market cap of gold above the ground is around $7 trillion.
So just 1% of that streaming into Bitcoin would add another $70 billion to its' market cap.

Gold is backed by a long 'history' ... bitcoin not yet.

Apple accounts for 0.3% of the world's total wealth? That seems too high.
I guess some of that value has to be transferred to Bitcoin. 

Man if I had a time machine like you do I would definitely want to travel to the future like you did. But tell me, why only one week? I'd go for one or two centuries, for a starter, if I was given the occasion.
1) Ethereum is crashing
2) Microsoft has already denied its statement regarding bitcoin. They accept it again.

As for your question regarding what happened to Ethereum, well speculation happened. A snowball effect, no less.

What happened so Ethereum is so highly regarded now? It is easily the 2nd cryptocurrency now. And it is getting bigger as we speak. There are rumors that Microsoft will be accepting ETH in their shop.
And they already give up on accepting Bitcoin few days ago.

You nailed it. Well you can chop my post in four bits if you want:
1) I'm comparing the total world's wealth with bitcoin and gold's market caps. This is cold, documented, mathematics.
2) I'm speculating on the future price of bitcoin.
3) I'm cracking a joke about bitcoin killing gold because gold will be easy to counterfeit in the future (yes, that was humour  )
4) I'm mocking the ridiculousness of the pump that Ethereum saw during these past two months. The future has already proven me right regarding that bit because the present is the future of my OP and Ethereum is coming down already. (To this I should add that I don't think that ethereum is the regular type of shitcoin, because I don't, quite the opposite actually, but yeah, the price last week was out of its boots).

Regarding part 2, which is only about speculation, of course, anything could happen, I'm not saying that bitcoin will have to find a bigger niche than it already has (and which is already pretty respectable). My, it might even lose it and be brought down to two digits. Thing is: I think it is unlikely. Now based on my calculations above, bitcoin's market cap is horribly far away from gold's, while I personally think that although being usable only as a currency and a store of value, bitcoin is just every bit as good as gold. It even does the currency part better than gold does because it's easy to transfer worldwide. Of course yes, that bit is not cold mathematical calculations: it's my prediction based on the mathematical calculations. It's not what the future has to be, only what it might be according to my own opinion. I don't think I properly went downhill when I gave away my opinion though. You should just not expect too much of it: it's only my opinion and I don't have the ability to foresee the future  . No need to bring it down any more  .

so how long do we wait this out lol.

I dont mind waiting for another 4 years, but having to wait like someone mentioned 10 years minimum.


I`ll prob invest in ETH if the day I see it on the googles webpages in the rankings to replace the word "bitcoin".

Until then it seems pointless is in my view.