Something to thing about | Bitcointalksearch.org

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: jamesc760 on October 22, 2013, 10:07:44 AM

Quote from: Erdogan on October 22, 2013, 09:09:25 AM

Quote from: Rannasha on October 22, 2013, 07:40:34 AM

Quote from: 1Pakis on October 22, 2013, 07:36:26 AM

are implying that anyone holding 2 bitcoins will become a millionaire?

By the very definition of the word millionaire, they won't be. They'll be holding 2 BTC, not 1,000,000+.

What purchasing power these 2 BTC is a completely different story.

Dollar millionaires, or bitcoin singulaires.

you mean, bitcoin Doubleaires?

Or...multisinguaires. I feel good about being a multisingulaire.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: BitChick on October 22, 2013, 12:50:14 PM

I was punching some numbers yesterday. I was thinking that realistically the market cap of Bitcoin would potentially equal that of the biggest corporations in the world (I know Bitcoin is not a corporation but just go along with me here.) Let's say that it does equal Apple and has about a 500 billion market cap. With all 20 million Bitcoin in circulation that would mean 1BTC would be worth $25,000. That is still a long way from a million. I don't think it is realistic to think it could get to a million but someone please give me reasons why I am wrong in this. Grin

I guess if it becomes the world's reserve currency perhaps? Is that a bit of a stretch? I guess time will tell but I do think that $25,000 should be attainable at some point.

I think it's the store of value qualities that could potentially allow for extremely high (inflation-adjusted, say 2008 $) valuations. The bitcoin price is set at the margins and "market cap" (really total monetary base) is just symbolic. Imagine taking 1% or possibly even less of all the money squirrelled "offshore" for tax avoidance/evasion purposes, combined with all the other potential store of value uses for bitcoin, then add that to the "bid" side of the exchange ledger. Excited now? Grin

Note: I'm not saying bitcoin has to or will have seven-figure prices in 2008 USD. Not at all. But if it's used as a serious store of value and/or major reserve currency then maybe $1 million plus per bitcoin is achievable. Maybe.

Realpra

hero member

Activity: 815

Merit: 1000

Quote from: xDan on October 22, 2013, 07:48:53 AM

There is approximately 10 billion solar systems in our galaxy.

Therefore, if humanity expanded to each of these solar systems, and assuming each has a single habitable planet there would be approximately 0.0021 BTC for use per solar system.

Assuming each solar system has approximately the GDP of earth (~71 trillion $USD); this would give a value of 1 Bitcoin equalling roughly a BAJILLION crisp American dollars.

So hold tight everyone, it's gonna be a crazy ride!

(I would recommend investing in some form of cryostasis to be around to see this though.)

Bitcoin doesn't scale to that size due to the speed of light and the need for the network to synch.

These other systems would likely have their own while Bitcoin would be limited to the Earth, Moon and Mars economies - even Mars might have its own Marscoin.

Largely trading knowledge streams directly is the only viable options for interplanetary economies and beyond.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: wasserman99 on October 22, 2013, 11:41:34 AM

Quote from: Buffer Overflow on October 22, 2013, 10:51:41 AM

Quote from: wasserman99 on October 22, 2013, 10:39:41 AM

If CNY doesn't start recovering soon i think i will dump and wait this out

Dump to what?

dollars. above 1200 cny now though.

I always worry about leaving my flat on an exchange.

BitChick

legendary

Activity: 1148

Merit: 1001

I was punching some numbers yesterday. I was thinking that realistically the market cap of Bitcoin would potentially equal that of the biggest corporations in the world (I know Bitcoin is not a corporation but just go along with me here.) Let's say that it does equal Apple and has about a 500 billion market cap. With all 20 million Bitcoin in circulation that would mean 1BTC would be worth $25,000. That is still a long way from a million. I don't think it is realistic to think it could get to a million but someone please give me reasons why I am wrong in this. Grin

I guess if it becomes the world's reserve currency perhaps? Is that a bit of a stretch? I guess time will tell but I do think that $25,000 should be attainable at some point.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: Buffer Overflow on October 22, 2013, 10:51:41 AM

Quote from: wasserman99 on October 22, 2013, 10:39:41 AM

If CNY doesn't start recovering soon i think i will dump and wait this out

Dump to what?

dollars. above 1200 cny now though.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: wasserman99 on October 22, 2013, 10:39:41 AM

If CNY doesn't start recovering soon i think i will dump and wait this out

Dump to what?

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: zby on October 22, 2013, 10:38:31 AM

This talk about millioners buying bitcoins always comes at the tops of the waves - a bearish sign.

many bearish indicators around this forum yesterday and today (man the permabulls who got rolled over in April who are now confident enough to go on and on about 5-figure BTC tomorrow really get me) ...... if CNY doesn't start recovering soon i think i will dump and wait this out

zby

legendary

Activity: 1594

Merit: 1001

This talk about millioners buying bitcoins always comes at the tops of the waves - a bearish sign.

cAPSLOCK

legendary

Activity: 3766

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Note the unconventional cAPITALIZATION!

Now we're thinging.

tutkarz

hero member

Activity: 546

Merit: 501

imagine all of this millionaires bought their 2 bitcoins except one of them. How much those last two bitcoins would cost.

derpinheimer

legendary

Activity: 896

Merit: 1000

Terrible logic lmao.

superresistant

legendary

Activity: 2156

Merit: 1131

Quote from: Gordonium on October 22, 2013, 06:58:57 AM

There are approximately 10 million millionaires in the world. So even if only all the millionaires would have Bitcoins and no one else, there would only be about 2 Bitcoins on average per millionare.

TL:DR: There is lot of potential for upside.

I Don't get it

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Singulaires representing either single digits of original full bitcoins, or the new singularity. Grin

jamesc760

sr. member

Activity: 448

Merit: 250

Quote from: Erdogan on October 22, 2013, 09:09:25 AM

Quote from: Rannasha on October 22, 2013, 07:40:34 AM

Quote from: 1Pakis on October 22, 2013, 07:36:26 AM

are implying that anyone holding 2 bitcoins will become a millionaire?

By the very definition of the word millionaire, they won't be. They'll be holding 2 BTC, not 1,000,000+.

What purchasing power these 2 BTC is a completely different story.

Dollar millionaires, or bitcoin singulaires.

you mean, bitcoin Doubleaires?

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: Rannasha on October 22, 2013, 07:40:34 AM

Quote from: 1Pakis on October 22, 2013, 07:36:26 AM

are implying that anyone holding 2 bitcoins will become a millionaire?

By the very definition of the word millionaire, they won't be. They'll be holding 2 BTC, not 1,000,000+.

What purchasing power these 2 BTC is a completely different story.

Dollar millionaires, or bitcoin singulaires.

xDan

hero member

Activity: 688

Merit: 500

ヽ( ㅇㅅㅇ)ﾉ ~!!

There is approximately 10 billion solar systems in our galaxy.

Therefore, if humanity expanded to each of these solar systems, and assuming each has a single habitable planet there would be approximately 0.0021 BTC for use per solar system.

Assuming each solar system has approximately the GDP of earth (~71 trillion $USD); this would give a value of 1 Bitcoin equalling roughly a BAJILLION crisp American dollars.

So hold tight everyone, it's gonna be a crazy ride!

(I would recommend investing in some form of cryostasis to be around to see this though.)

1Pakis

full member

Activity: 227

Merit: 100

There are 200,000,000 satoshi in 2 BTC Grin

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: 1Pakis on October 22, 2013, 07:36:26 AM

are implying that anyone holding 2 bitcoins will become a millionaire?

By the very definition of the word millionaire, they won't be. They'll be holding 2 BTC, not 1,000,000+.

What purchasing power these 2 BTC is a completely different story.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: 1Pakis on October 22, 2013, 07:36:26 AM

are implying that holding 2 bitcoins will become a millionaire?

Just wait and see. Grin

Topic: Something to thing about (Read 2127 times)