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Author Topic: How to Estimate the Future Value of Bitcoins  (Read 3438 times)
Possum
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July 16, 2011, 01:08:38 PM
 #1

Hi

How much money is used to enable

How much cash is used world wide to facilitate transactions that bitcoin would be better off doing or could do.

If you divided that number by 21,000,000 bitcoins you would get an estimated value what a Bitcoin could be valued at.

Would this be correct?

Thank you...
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apetersson
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July 16, 2011, 01:20:16 PM
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for a quick calculation of the future worth of bitcoin see:
Napkin Math: When 1% of today's Internet business is conducted using Bitcoins then the worth of 1 BTC will be 402€

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July 16, 2011, 05:01:03 PM
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/napkin_math_when_1_of_todays_internet_business_is/]Napkin Math: When 1% of today's Internet business is conducted using Bitcoins then the worth of 1 BTC will be 402€
I think you're assuming that each bitcoin will only turn over once per year. If you assumed that each coin would be spent once per week, you get a price of about €8.
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July 17, 2011, 12:09:13 PM
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ribuck: Does that mean Bitcoin is no longer an Investment. And is now jsut money.. Which is cool too..
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July 17, 2011, 01:27:17 PM
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ribuck: Does that mean Bitcoin is no longer an Investment. And is now jsut money.. Which is cool too..
Yes and no... I'll call it money when it will be accepted at Amazon, for example ...

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July 17, 2011, 01:32:45 PM
 #6

ribuck: Does that mean Bitcoin is no longer an Investment. And is now jsut money.. Which is cool too..
Yes and no... I'll call it money when it will be accepted at Amazon, for example ...
You do know that you can shop at Amazon with Bitcoins?
No fees, no risk - you get a gift code for the appropriate amount of Bitcoins at the latest Mt. Gox price.

Granted, it is through spendbitcoins.com but it doesn't make much of a difference from the customers perspective, because you can still use the normal amazon.com site to browse the offers, view the reviews etc... It's just that you pay with BTC!

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ercolinux
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July 17, 2011, 02:20:55 PM
 #7

/napkin_math_when_1_of_todays_internet_business_is/]Napkin Math: When 1% of today's Internet business is conducted using Bitcoins then the worth of 1 BTC will be 402€
I think you're assuming that each bitcoin will only turn over once per year. If you assumed that each coin would be spent once per week, you get a price of about €8.

Maybe a more correct value can be in the range 16-24$: is true that bitcoin can flow really fast with 1% of internet business, but also you've to think that a smaill percentage (2-5% I presume) of bitcoin was lost due to missing/damaged/forgotten wallets, and another 10-15% is not used for transactions but as personal reserve. And again not all the people who use bitcoin will use them weekly on internet. If we can add to the internet transaction a 0.01% of the "real life" transaction we can easily jump over 50-100$.
Another good marker of the possibile value of bitcoin is the number of people that will use them: if there will be 1 million of user each of them can have 21BTC in average, but if users will be 10 millions or 100milions (10% of the  population of USA and Europe or 1,5% of world population) the average will drop to 2 or 0,2BTC. In last case  the value shall be over 1000$ to make them still usable (it will be a mere 200$ for every user - that are penny in the pocket in a real market).
And don't forget that 21 milion of BTC will be mined only in 2140. Now we have less than 7 million, and when there will be 10 million out i you've to double all the math.

Bitrated user: ercolinux.
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