A general calculation of assets and BTC
Total global assets ~ $900T
Roughly ~ 15M available BTC
If Bitcoin’s market cap acquires 1% of global assets, we have a $9 Trillion asset class.
$9T / 15M = $600,000 BTC
What are your thoughts on this
Where and how did you find the global assets are 900 trillion?
why do you think 15 million BTC are available?
https://www.blockchain-council.org/cryptocurrency/how-many-bitcoins-are-left/19 million are mined no matter what anyone says all 19 million are 'possibly' available.
Ie all 'lost coins' could simply be recovered and reissued by developers.Yes very simple... have fun with your new "developer" fork...
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So 1 percent = 5.2 trillion/ 19million = 273,684 USD a coin
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That's not the price 5.2 trillion going into BTC would generate.
It's the same like thinking that if someone bought 570 Billion $ of BTC now, it would only double the current price to 58000$.
No 5.2 trillion market cap for BTC is not same 5.2 trillion going into BTC . I should be more clear as I did mention shifting wealth so it would seem like that I meant people spend 5.2 trillion to buy all the btc. As John Galt said it would be more complex than stocks trading for btc or gold trading for btc.
But yeah if you tried to buy every coin in existence the market cap could go to 15 trillion.
As for developers freeing the lost coins they likely will one day. Unfortunate that will take more than 30 years from now maybe 2080.
So I won't live to see it.
I am almost certain that if BTC does succeed those coins will be freed down the road.
But it is arguing a point in time so far away it does not affect me and likely very few of us would be alive to see it happen.
I don't see why any holder of BTC would want to have dormant or lost coins hitting the market and decrease their networth
I can give you a long list of reasons why it will happen. But when you talk about the year 2080 no one really knows what is relevant.
Just remember holders of coins do not vote since there is no staking. Well maybe one can say LN is kind of like staking.
hodlers always have the last word. they choose which fork has value and gets used.
now, why should hodlers value a fork where devs are distributing coins that are not theirs, thereby diluting the available supply, and even worse, destroying Bitcoin's NYKNYC-feature?
@philipma1957Sorry for my persistence, but I'm actually still waiting for some of your "long list of reasons" that answers my above question....
I won't be discussing any more than this one 'greed'.
The only way forfeiting old stale coins does not happen by 2080 is BTC is not worth much money. It lost out to LTC/DOGE due to the superior reward structure of the scrypt algo for miners
If it is 2080 and 2-3 million coins have sat in place from 2009- 2013 era a call for reclaiming them will happen. Thus boosting the payment/rewards for miners.
Look at BTC as wealth for power which is pretty much what satoshi said it is.
Look at LTC/DOGE as wealth for power it is an improved method of rewards for the power.
Does this mean I think BTC is not a good as LTC/DOGE not really .
I hold in dollar value
84 percent BTC
4 percent LTC
10 percent DOGE
2 percent odd ball crap
But Other than my BTC DCA all coins in my stack are acquired via mining.
So my mined coins are a discount buy in every case.
If you look at a miner as a $$$ per watt machine the L7 is better than the s19 xp
same watts in each case
the s19 xp makes 141 x $0.0721 = $10.16 in btc a day
the L7 makes 9 x $ 2.1832 = $19.6488
So if you are spending 75kwatts a day for either one which is better by satoshi's definition (power into wealth) the L7 is about 2x better.
As time marches on the Scrypt algo will always be better due to Doge's set 10,000 coins a block.
If you don't see this you are blind to the future. Le tus say 2080
(I will be very dead then by then as I would be 123 years old in 2080)
LN won't really be the greatest fix for this as LTC and DOGE can do LN
Of course the argument I make depends on POW existing in 2080. It is a long time from now.
Which is why I hold 84% BTC and 14% LTC/DOGE
Every ½ that happens from now on under current setup favors LTC/DOGE in long run.
But as I said beta lost to vhs and BTC could certainly keep its edge over LTC/DOGE for longer than I think.
In all practicality it does not matter to me as I won't live to see the issues I am discussing.