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Title: what do you consider to be a shit-ton of bitcoin? Post by: wolverine.ks on November 24, 2013, 03:34:38 PM Comments...
Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: Rez on November 24, 2013, 03:46:32 PM For me ... 1,000 is a shit-ton.
Mostly because it's an unattainable goal for most at this point. Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: niothor on November 24, 2013, 03:50:42 PM We know 200k bitcoins are a shitload of money
https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47JistZqFmW8 so a shit-ton would be 100k or 10k? =))))) Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: Johnny Bitcoinseed on November 24, 2013, 04:24:03 PM Well according to the votes so far, I may have about a quarter of a shit-ton.
Now is that metric shit-ton or and English measure shit-ton? We need to be more specific on units here. Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: anti-scam on November 24, 2013, 07:36:37 PM At this point, I'm pretty sure that even a hundred is more than the average income of a US household. Multiplying that by ten surely results in a guaranteed "shit-ton".
Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: SquashJ on November 24, 2013, 07:38:46 PM With the current rate, I'd be more than happy with 100 BTC...
Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: Carlton Banks on November 24, 2013, 07:40:13 PM Answer is 1.
What's 1/21 millionth of the world money supply? Absolute trucks-full, that's how much. If (and I should maybe say "when") Bitcoin realises it's potential, anyone with >1 will be rich. Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: jaked on November 24, 2013, 07:48:07 PM Answer is 1. What's 1/21 millionth of the world money supply? Absolute trucks-full, that's how much. If (and I should maybe say "when") Bitcoin realises it's potential, anyone with >1 will be rich. 1 BTC is not "trucks-full" of money, even under the most optimistic assumptions. The global money supply is ~$8T. Divide that by 21M, assuming BTC has dominated the entire market, and you get ~$380K per BTC. Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: Johnny Bitcoinseed on November 24, 2013, 07:54:48 PM I took a stab at it...
From one source there is something like $46.513 trillion dollars worth of money in the world (note: this is very difficult to measure as there are several types of "money") There are about 7-billion people This comes to an average of $6644 per person $46.513 trillion dollars divided by 21-million bitcoins = $2,214,904 per bitcoin. That is what dreams of made of. Half a bitcoin could be $1 Million dollars US currency. While not a truck full of money (unless it is in pennies) it certainly is a lifetime supply if used efficiently. Ah, pipe dreams.... Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: Carlton Banks on November 24, 2013, 08:03:07 PM Answer is 1. What's 1/21 millionth of the world money supply? Absolute trucks-full, that's how much. If (and I should maybe say "when") Bitcoin realises it's potential, anyone with >1 will be rich. 1 BTC is not "trucks-full" of money, even under the most optimistic assumptions. The global money supply is ~$8T. Divide that by 21M, assuming BTC has dominated the entire market, and you get ~$380K per BTC. Yup, $380,000 would be a terrible outcome. I totally agree. Title: Re: what do you consider to be a shit-ton of bitcoin? Post by: EvilPanda on November 24, 2013, 08:22:32 PM At current price I vote for 1k, simply because it would be impossible for me to obtain, ever, unless I won a lottery or something.
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