Bitcoin Forum
June 15, 2024, 12:45:28 PM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Bitcoin is currently only 0.03454% used (in the world), what if we reached 1%?  (Read 1502 times)
bitcoinsrus (OP)
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500



View Profile
June 06, 2014, 12:31:42 AM
Last edit: June 06, 2014, 12:24:15 PM by bitcoinsrus
 #1

If there are (around) 7,238,160,000 people alive on this planet.
Assume there are 2.5 million bitcoin holders, then that is:

2,500,000 / 7,238,160,000 = 0.00034539164 times 100 = 0.03453916464% of the world
(math is correct because for example 500 / 5000 = 0.1 times 100 = 10% (so 500 is 10% of 5000 which is correct)

1% should be 72,381,600 people (# people / 100 = 1%)

Price is currently 657 at this current rate (0.03454% (ish) (people involved in btc) (more than 3 hundredths of a percent)

if that reach 1%, then 1 / 0.03454 = 28.95193978 (times more to reach 1% of world adoption)
so 657 times 28.95193978 = $19,021.4244354 per bitcoin.

I know that the price would probably not be this (most likely higher) (Price depends on how much they would buy, if it stays in (or gets immediately converted via bitpay or something etc. - was just testing the math on that one)

Thoughts appreciated
Crindon
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250



View Profile
June 06, 2014, 01:23:15 AM
 #2

Your calculation seems correct, but I prefer the Winklevoss value of $40,000 to $50,000 each.

In time, they will release their ETF and there will be a lot of attention on Bitcoin. Institutional investors will go in and there will be a frenzy. The media will be all over it.
fallinglantern
Sr. Member
****
Offline Offline

Activity: 260
Merit: 251


View Profile
June 06, 2014, 01:37:30 AM
 #3

don't forget the effects of metcalfe's law on BTC pricing. The relationship of BTC price and number of users is actually exponential, not linear  Grin
dannyspk
Sr. Member
****
Offline Offline

Activity: 341
Merit: 250


View Profile
June 06, 2014, 02:05:32 AM
 #4

Your calculation seems correct, but I prefer the Winklevoss value of $40,000 to $50,000 each.

In time, they will release their ETF and there will be a lot of attention on Bitcoin. Institutional investors will go in and there will be a frenzy. The media will be all over it.

I've heard so much about the ETF now that the information gets blurry. When exactly is it suppose to go live?
gentlemand
Legendary
*
Offline Offline

Activity: 2590
Merit: 3014


Welt Am Draht


View Profile
June 06, 2014, 02:12:12 AM
 #5

It's not in the bag yet by any means. Their lawyer, who has plenty of experience in ETF creation, reckoned it might be sometime late this year but wasn't absolutely certain.

It's likely the SecondMarket one will be first but they're taking a different approach to being approved and cutting a few corners in comparison.
Swordsoffreedom
Legendary
*
Offline Offline

Activity: 2800
Merit: 1115


Leading Crypto Sports Betting & Casino Platform


View Profile WWW
June 06, 2014, 02:37:45 AM
 #6

Your calculation seems correct, but I prefer the Winklevoss value of $40,000 to $50,000 each.

In time, they will release their ETF and there will be a lot of attention on Bitcoin. Institutional investors will go in and there will be a frenzy. The media will be all over it.

I agree even Fxopen my signature campaign is the Forex for Bitcoin, that and other institutional investors will start building funds the Winkeveli are listing for the Nasdaq and the countries not banning derivative trading in virtual currencies are highly interested in the technology. Such as Citi Bank and its report on bitcoin.

So it is only a matter of time in trend analysis to see that 1% but how long it will take is the question.

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!