|
Title: Bitcoin Value Post by: No1 on June 27, 2011, 10:43:50 PM Couple of questions:
1. Can I today spend ~$17 and get a bitcoin ? 2. Current world GDP is ~$60T. Assuming in 20 years from now we have same GDP and 0.001%($600M) of it is traded as BTC(I am trying to be an optimist here) and BTC converge to 21 million coins.. Will the value of 1BTC=$600M/21M=$30 in today's dollar ? Title: Re: Bitcoin Value Post by: dan_a on June 27, 2011, 10:50:50 PM 1. http://bitcoincharts.com/markets/ shows that yes, you could go onto one of the exchanges and pay $17 for 1BTC
2. I'm no economist, but I think there are far too many variables to say. The value of a bitcoin is in part based on how useful it is. If it is easier to spend 1BTC than $1 then that's going to count in Bitcoin's favour. That's definitely not the case at the moment but who can say what it will be in 20 years. Title: Re: Bitcoin Value Post by: gtabmx on June 27, 2011, 11:05:00 PM If only economics were that easy that you can guess a percentage and apply it directly to your calculations.
-Mike Title: Re: Bitcoin Value Post by: Devilz253 on June 27, 2011, 11:27:53 PM yep.
Title: Re: Bitcoin Value Post by: Ellen Alemany on June 28, 2011, 12:12:46 AM Interesting question I will definitely take a look at (might reply here):
Since we know the amount of bitcoins today, i) How many % of world GDP are they worth at current price? ii) Is this percentage reasonable? To large/small? |