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Title: Can we put a cap on the total USD value of Bitcoin? Post by: Anonymous on April 30, 2011, 08:07:13 PM I've heard a gentleman say that if Bitcoin were to reach $1000 per coin that would only be .36% of the US economy. Where will Bitcoin stop? How much can it consume?
If these statistics are true, it would be reasonable to say that a measly investment of 10 Bitcoins or so today will be a great retirement fortune tomorrow. :O Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: ribuck on April 30, 2011, 08:15:41 PM Why limit your figures to the US economy? Anyway, it depends on how much economic activity is done with Bitcoin, so it's hard to predict where it will end up.
Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: Anonymous on April 30, 2011, 08:23:34 PM Why limit your figures to the US economy? Anyway, it depends on how much economic activity is done with Bitcoin, so it's hard to predict where it will end up. Well, the world runs on the US dollar at the moment. It is the international standard -- well -- until it fails. Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: bitdragon on April 30, 2011, 08:31:10 PM Why limit your figures to the US economy? Anyway, it depends on how much economic activity is done with Bitcoin, so it's hard to predict where it will end up. Well, the world runs on the US dollar at the moment. It is the international standard -- well -- until it fails. "The world" runs on the US Dollar, so you only compare to the US economy? Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: Anonymous on April 30, 2011, 08:32:50 PM Why limit your figures to the US economy? Anyway, it depends on how much economic activity is done with Bitcoin, so it's hard to predict where it will end up. Well, the world runs on the US dollar at the moment. It is the international standard -- well -- until it fails. "The world" runs on the US Dollar, so you only compare to the US economy? Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: Raulo on April 30, 2011, 08:41:53 PM All the gold ever mined from ancient times is worth about 8 trillion USD at the current market prices.
Facebook (which will probably be uncool and likely much less popular in less than decade) is apparently worth 50 billion. Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: ribuck on April 30, 2011, 08:44:38 PM Facebook (which will probably be uncool and likely much less popular in less than decade) is apparently worth 50 billion. So if Bitcoin becomes as "valuable" as Facebook, that would equal $2381 per bitcoin.Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: phelix on April 30, 2011, 09:05:16 PM Facebook (which will probably be uncool and likely much less popular in less than decade) is apparently worth 50 billion. So if Bitcoin becomes as "valuable" as Facebook, that would equal $2381 per bitcoin.that really should not be too hard to beat =) Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: Anonymous on April 30, 2011, 09:07:33 PM ....Heh, one problem.
That $50 million number is arbitrarily assigned by investment companies. Who knows how much all Facebook shares would actually sell for. However, that goes for anything. Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: gigitrix on April 30, 2011, 11:23:04 PM Theoretical Maximum: whole world uses it, bitcoin is worth (World Economy/21million)
Title: Re: Can we put a cap on the total USD value of Bitcoin? Post by: proudhon on April 30, 2011, 11:54:30 PM Theoretical Maximum: whole world uses it, bitcoin is worth (World Economy/21million) World Economy/21million = big number (like, bigger than 100,000) |