Why should have one Bitcoin | Bitcointalksearch.org

Zedpust

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Quote from: tbolt256 on December 24, 2016, 05:46:47 AM

The whole thing is based on an assumption that everyone would give up everything they own or have and stand with whatever cash they get. For that to happen someone would have to have $241 trillion and be willing to buy everything everyone in the world owned. Also where would they keep it all? they'd require a whole island probably bigger than greenland to store it Grin

For the people with very high networth, they can own some bitcoin, for the poor people, it is too risky.

tbolt256

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The whole thing is based on an assumption that everyone would give up everything they own or have and stand with whatever cash they get. For that to happen someone would have to have $241 trillion and be willing to buy everything everyone in the world owned. Also where would they keep it all? they'd require a whole island probably bigger than greenland to store it Grin

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

You will never get every nation in the world to surrender their fiat currency for Bitcoin, so that is a pipe dream that would never happen. How would you be able to sell everything you own? Someone needs to buy it, for the wealth to shift from the one entity to the other. The hypothesis is interresting and should just be seen as a possible scenarion when dictators could force people to abandon fiat and then to accept Bitcoin as a
reserve currency to eliminate cash. ^hmmmmm^ A typical example would be Denmark, where they are moving away from fiat to eKrone.

odolvlobo

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Quote from: greatmemar on December 24, 2016, 02:17:01 AM

So if we divide the total wealth on total btc it will be $12,050,000 it means if the world accept bitcoin the value of one bitcoin will be $12,050,000.

Sorry. You are making a common mistake. The value of all the money in the world is not equal to the world's wealth. There is no reason to believe that the value of all the bitcoins will ever be equal the world's wealth. In fact, that would be impossible.

Mikkiun

full member

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Quote from: greatmemar on December 24, 2016, 02:17:01 AM

What would happen if you sold everything you own, liquidated any investments you have, paid off all of your debts, and withdrew whatever cash you have in bank accounts?

You’d be standing on the street naked, with nowhere to go, holding a bunch of cash, and people would be looking at you.

holding all your net worth:

And whatever cash you were holding would be your net worth.

Okay now, imagine that everyone else in the world does that too (just pretend that makes sense), and all the people of the world, naked and holding their wealth in cash, come together and throw their wealth into a big pile together. How much money would be in that pile?

$241,000,000,000,000.

The combined wealth of all the people of the world is $241 trillion.1

So at this point, the whole human race would be standing there together, all naked, all broke, looking at a massive pile of cash.

The world's wealth in hundreds:

Okay, the maximum number of bitcoins is 20999999.9769 BTC. Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn't significant.
So if we divide the total wealth on total btc it will be $12,050,000 it means if the world accept bitcoin the value of one bitcoin will be $12,050,000.
You may be a millionaire in future Grin

You are funny man but I like this post.
Yes, we will be a rich men in the future. when is it available?

greatmemar

newbie

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What would happen if you sold everything you own, liquidated any investments you have, paid off all of your debts, and withdrew whatever cash you have in bank accounts?

You’d be standing on the street naked, with nowhere to go, holding a bunch of cash, and people would be looking at you.

holding all your net worth:
http://28oa9i1t08037ue3m1l0i861.wpengine.netdna-cdn.com/wp-content/uploads/2014/03/naked1.png

And whatever cash you were holding would be your net worth.

Okay now, imagine that everyone else in the world does that too (just pretend that makes sense), and all the people of the world, naked and holding their wealth in cash, come together and throw their wealth into a big pile together. How much money would be in that pile?

$241,000,000,000,000.

The combined wealth of all the people of the world is $241 trillion.1

So at this point, the whole human race would be standing there together, all naked, all broke, looking at a massive pile of cash.

The world's wealth in hundreds:
http://28oa9i1t08037ue3m1l0i861.wpengine.netdna-cdn.com/wp-content/uploads/2014/03/money-pile.png

Okay, the maximum number of bitcoins is 20999999.9769 BTC. Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn't significant.
So if we divide the total wealth on total btc it will be $12,050,000 it means if the world accept bitcoin the value of one bitcoin will be $12,050,000.
You may be a millionaire in future Grin

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