What Bitcoin price is too high? - page 6.

Oralmat

hero member

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Quote from: BigBoom3599 on June 29, 2016, 05:25:53 AM

I see bitcoin as a replacement for gold, the market cap of gold today is just under 8 trillion so if bitcoin would replace all of it (that will probably never happen)
and we assume all of the 21 million BTC has been mined we would come to a price of 380 952,380952381 USD per BTC.

Woww 380 952,380952381 USD per BTC , isnt it a dream price which every bitcoin holder wants it to be. I am even happy if bitcoin is valued at half of this price. Wink

BigBoom3599

sr. member

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I see bitcoin as a replacement for gold, the market cap of gold today is just under 8 trillion so if bitcoin would replace all of it (that will probably never happen)
and we assume all of the 21 million BTC has been mined we would come to a price of 380 952,380952381 USD per BTC.

avikz

legendary

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Merit: 1500

That depends on many factors. For me, o bitcoin price is too high because, it should be considered along with the world's economic situation. Bitcoin is like gold, even though most of the investors do not know about bitcoin. But when the stock market crashes, the gold price increases because of huge buying order. It is because people want to safeguard their investment.

So bitcoin also has a similar nature and can be used for investment while the world economy trembles. For me $1000 + is not a very high price for bitcoin. It has a potential to reach up to $10k USD.

Jet Cash

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https://JetCash.com

Bitcoin is here to stay (unless somebody screws up core), and it will be/is a significant world currency, but it will never be the Phoenix currency.

TemplarKnightUK

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Actually, there is a maximum Bitcoin price! How do we obtain it? Well, you can see that would occur if Bitcoin become the currency of the world and replaced all fiat.

Take the global M2 (total money supply including certain deposits: less inclusive than M3 but a good measure to be going on with), which is currently about $60-70 trillion. Divide this by the market capitalisation of BTC at the moment (let's say around $7 billion, because that's what it was when I last did this calculation and it gives a nice figure, and we're dealing with log orders of magnitude here), and you get a ratio of around 10 000. Thus, the price of BTC can only increase 10 000x from its current figure, unless more money is invented (which it will, by the time Bitcoin approaches that), but for now at least the theoretical ceiling of Bitcoin is:

$639 * 10 000 = $6.39 million/coin

Always fun to do back of a post it note calculations; have a good day Cheesy

drwtsn32

sr. member

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Reaching $1000 is too high for me but just nowadays.
I mean, if it reaches $1000 today, then it would be the new normal and no one's gonna notice it the day after.

Jet Cash

legendary

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https://JetCash.com

Bitcoin is a money transfer system, so an increase in price merely indicates confidence in the system There is not an economy that needs a low price to stimulate exports, so no price is too high. Just my opinion, I'd be interested to hear from people who disagree with me.

From Above

hero member

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For u personally what is a Bitcoin price that u would consider too high?

What can be the maximum Bitcoin's worth?

~CfA~

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