We must build a new exchange rate system

[bibi-bo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

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[amacar2]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

In this way many of other altcoins/shitcoin will also be valued more than what you have valued bitcoin. This is completely wrong way to valuate thats why we have marketcap as that show how much fiat is actually stored in terms of bitcoin divided by total available bitcoin (already mined) giving right current value.

[BobK71]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

The price of anything should be based on supply and demand.  There is no other way -- you can't have a group of people create an asset class out of thin air and claim the total value of this asset pool must be equal to the total value of all the dollars in the world.

That said, the capital markets are heavily manipulated by the global political and financial elites.  Market forces play a role, but most of the problems are ultimately caused by elite manipulation.  Bitcoin is a force that weakens this manipulation.

[SmartIphone]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Based on what is your idea? Bitcoin should be independent from the fiat and that's what bitcoiners are trying to do.
The price of bitcoin is assigned based on other factors like total supply, number of bitcoin in the market, number of dead bitcoins (those that can't be spent ever), number of buy/sell orders etc.

[RodeoX]

So can I buy your bitcoins for $500? Of course not.
In a free market, like bitcoin, the price is what people will pay. Not what we think makes sense or what we hope it will be.

[virtualx]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

The idea to measure scarcity is an interesting one. Scarcity is certainly an important feature of valuable objects.
Exchange rate is determined by the market. Do you want to give me 500.00 U.S. dollars for 1 bitcoin? 

[bibi-bo]

We can build an online platform and start using a system like that.

[countryfree]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Yes, I like your idea. You're right. I'm all willing to help you set up that new system of yours. I guess we could start with me selling you one BTC. I'll pay the bank fee to transfer the $500.000 to my account and I'll send you one BTC right away.

[odolvlobo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

I think it is a bad idea.

For example, I suppose you would suggest that the BTC/EUR exchange rate should be 1 BTC = €83000  because the euro's monetary base is about €1.75 trillion. Then people would buy BTC with euros and immediately sell them for dollars, over and over.

[CroSany]

Lol you cant choose your own bitcoin price.Every product or thi g or value is worth per number of sells so it dependsvon popularity and how much somebody buy that thing or sell.Bitcoinprice per piece will never be bigger than 100000$.

[eternalgloom]

It's all about supply and demand, there is just not enough interest in Bitcoin yet for that to happen. You can't just 'decide' that the price should be X amount of dollars per Bitcoin...
Just basic economics....

[Doamader]

I got your idea, but printed money you never know really the total ammount circulating, collectors always get some extra money frozen, doesnt matter. The point is what would be the interest to see how many bitcoins had been mined and the price of each unit? As i know we have already that conversion for a long time and it didnt need to be made a new one just to add the total coins mined.

[pooya87]

the monetary base of these fiats or bitcoin is a factor in determining their value but it is not the important factor for that. the thing that will determine the price of bitcoin or anything else for that matter is mostly the supply and demand relationship.

[groll]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Well there are many things to consider before we adjust the current rate. Establishing a rate system is even hard to establish even fiat currency has a hard time placing an exact exchange since it is in constant change. Like Peso to Dollar, Yen to Dollar. The economic movement will always dictate how the currency will move with regards to price inflation and deflation.

[Gilligans]

This wouldn't work at all even if it makes sense in a way. The market is the basis of the value of certain things, in line with it's supply and demand, not just from the total supply.

Besides, if we're going to be using that computation, then all the other altcoins with smaller cap would then be valued higher than bitcoins, and of course, we wouldn't want that, right?

[michkima]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

That is a good idea. Would you like to exchange my 1 bitcoin with your $500,000? If you do not, your idea will not work.

[bibi-bo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

That is a good idea. Would you like to exchange my 1 bitcoin with your $500,000? If you do not, your idea will not work.

Some altcoins can choose this method.

[pitham1]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

That is a good idea. Would you like to exchange my 1 bitcoin with your $500,000? If you do not, your idea will not work.

Some altcoins can choose this method.

This is rich. So you create an alt today and expect its value to be equal to the monetary base of the US dollar? There is only one thing which determines the demand - supply and demand

[bibi-bo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

That is a good idea. Would you like to exchange my 1 bitcoin with your $500,000? If you do not, your idea will not work.

Some altcoins can choose this method.

This is rich. So you create an alt today and expect its value to be equal to the monetary base of the US dollar? There is only one thing which determines the demand - supply and demand

I mean, a group of altcoins, can choose to use an exchange platform like this.

[serjent05]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.