TIL total gold mined / total number of bitcoins ≈ solid ball of gold with ø 3.5"

[weav]

Worth approximately $350,000  

Sources:

http://www.gold.org/investment/why_and_how/faqs/#q021

http://www.wolframalpha.com/input/?i=171300%2F21000000+tonnes+of+gold

[ProfMac]

Worth approximately $700,000  

Sources:

http://www.gold.org/investment/why_and_how/faqs/#q021

http://www.wolframalpha.com/input/?i=171300%2F11000000+tonnes+gold

This doesn't pass a basic sanity test.
Check your units.

[weav]

This doesn't pass a basic sanity test.
Check your units.

Er sorry, 21M and $350,000 respectively.

What about my units specifically?

[ProfMac]

This doesn't pass a basic sanity test.
Check your units.

Er sorry, 21M and $350,000 respectively.

What about my units specifically?

You are saying that all the gold that has been mined would fit into a ball the size of a melon.  There is much more gold than that.
Start with your number for the total tonnes of gold from your reference.  Then construct the conversion factor.  The way I teach this is to write down an equation of two things that are equal, such as
  x tonnes = y kg
Then, for this problem, you want to cancel tonnes.  So divide both sides of the equation by "x tonnes" and there you have
1 = (y kg / x tonnes)
Multiply your number of tonnes by this conversion factor.  I think you will end up with a cube about 0.1 or 0.2 Km on a side.  I can believe that number.

[weav]

This doesn't pass a basic sanity test.
Check your units.

Er sorry, 21M and $350,000 respectively.

What about my units specifically?

You are saying that all the gold that has been mined would fit into a ball the size of a melon.  There is much more gold than that.
Start with your number for the total tonnes of gold from your reference.  Then construct the conversion factor.  The way I teach this is to write down an equation of two things that are equal, such as
  x tonnes = y kg
Then, for this problem, you want to cancel tonnes.  So divide both sides of the equation by "x tonnes" and there you have
1 = (y kg / x tonnes)
Multiply your number of tonnes by this conversion factor.  I think you will end up with a cube about 0.1 or 0.2 Km on a side.  I can believe that number.

No, I am saying all the gold that has been mined could be divided into 21 million solid gold melons, that is balls of gold with diameter approximately 3.5 inches each.

Insinuating that 1 BTC will be worth as much in the not so distant future!

[Mooshire]

I wish this was true.

[weav]

I wish this was true.

Basic math. 

 

[ProfMac]

This doesn't pass a basic sanity test.
Check your units.

Er sorry, 21M and $350,000 respectively.

What about my units specifically?

You are saying that all the gold that has been mined would fit into a ball the size of a melon.  There is much more gold than that.
Start with your number for the total tonnes of gold from your reference.  Then construct the conversion factor.  The way I teach this is to write down an equation of two things that are equal, such as
  x tonnes = y kg
Then, for this problem, you want to cancel tonnes.  So divide both sides of the equation by "x tonnes" and there you have
1 = (y kg / x tonnes)
Multiply your number of tonnes by this conversion factor.  I think you will end up with a cube about 0.1 or 0.2 Km on a side.  I can believe that number.

No, I am saying all the gold that has been mined could be divided into 21 million solid balls of gold with diameter approximately 3.5 inches each.

Insinuating that 1 BTC will be worth as much in the not so distant future!

Ah.  I see now.

[weav]

bump

[gogxmagog]

The total amount of gold mined is approx 50 cubic metres. That's bigger than half a football field cubed. Apparently some oil sultan in Brunei owns a large chunk of it. The banks (paper issuers) hold very, very little.