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Author Topic: If bitcoin becomes world's reserve currency?  (Read 2894 times)
zimmah
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May 30, 2014, 07:07:34 PM
 #61

If these currencies are so valuable and doing so well then why is everyone poor? Answer me that.

Everyone isn't poor. The net worth of the world is estimated at $223 trillion.

the average life savings of people is $44k (rounded and exchanged from native countries currency into dollars)

223trillion / 7billion people = $31840

so the $223trillion figure does not compute.. the number should be higher

also many people are millionaires, billionaires, meaning for every millionaire there is atleast 20+ people with nothing saved in their bank accounts

for every billionaire they hold the life savings wealth that would/should have been spread amongst 20 thousand people.

so i think you will find that not every single person actually had $30k-$45k life savings. rather, the reality shows 1 billionaire vs 20k poor.. is the more factual statistic


 
Hi Franky - I just PM'ed you - need your help with an issue I'm currently having.

assuming that figure is true, if everyone would put their life savings in bitcoin instead of local currency, bitcoin would be valued ~$1 500 000 (for 21 million coins)

for 13 million coins it's ~$2 400 000

Probably not even accounting for gold and other assets
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LAMarcellus
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May 30, 2014, 08:47:56 PM
 #62

You've heard of separation between church and state.
Well, How about a complete separation of economy and state?

Huh? Who's with me?  Grin

The who will save the week from the bad and powerful players in that economy...

Bad and powerful players are part of the state apparatus, Economic actors must serve customers and keep them happy to realize "selfish" profits.

Or are you suggesting that without the state to hold your hand, you would keep eating at a dirty restaurant which daily gives you diarrhea.
Do you need protection from Subway subs? Or the cops and "blowback"?
Windows is a monopoly that needs to be busted but the Federal Reserve Bank is blessed?!?






The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. – Albert Camus
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May 30, 2014, 10:54:12 PM
 #63

that would be interesting, maybe 50 years later we might see bitcoin becoming a world reserve currency

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May 31, 2014, 02:34:15 AM
 #64

If these currencies are so valuable and doing so well then why is everyone poor? Answer me that.

Everyone isn't poor. The net worth of the world is estimated at $223 trillion.
so i think you will find that not every single person actually had $30k-$45k life savings. rather, the reality shows 1 billionaire vs 20k poor.. is the more factual statistic
Well said, Franky.




Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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