Bitcoin Forum
December 03, 2016, 02:31:14 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Bitcoin potential value  (Read 3751 times)
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
July 19, 2012, 01:54:57 AM
 #1

Here a small calculation to estimate the maximum potential value of one single bitcoin if all the world economy turns to be in bitcoin.

Total world economy actually in USD ~= 32 120 264 000 000 $
Max bitcoin in circulation (considering that no bitcoins have been lost) = 21 000 000

32 120 264 000 000$ / 21 000 000 BTC = 1 529 536$ per bitcoin.  Shocked

That would be great   Grin

--corrected--

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 19, 2012, 01:58:06 AM
 #2

Here a small calculation to estimate the maximum potential value of one single bitcoin if all the world economy turns to be in bitcoin.

Total world economy actually in USD ~= 32 120 264 000 000 000 $
Max bitcoin in circulation (considering that no bitcoins have been lost) = 21 000 000

32 120 264 000 000 000$ / 21 000 000 BTC = 1 529 536 380$ per bitcoin.  Shocked

That would be great   Grin

World economy in USD is $32,120,264,000,000,000???

I think you added two or three zeroes by accident.
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
July 19, 2012, 02:00:09 AM
 #3

Nope. World economy is pretty huge!

finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
July 19, 2012, 02:03:54 AM
 #4

1/1000

bg002h
Donator
Legendary
*
Offline Offline

Activity: 1288


Got GLIPH? https://gli.ph/m *p-d-d


View Profile WWW
July 19, 2012, 02:10:51 AM
 #5

Nope. World economy is pretty huge!

Source?

My very own Casascius Bearer Bar: 1GCDzqmX2Cf513E8NeThNHxiYEivU1Chhe
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
July 19, 2012, 02:11:40 AM
 #6

Nope. World economy is pretty huge!

Source?

http://en.wikipedia.org/wiki/World_economy

evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 19, 2012, 02:20:02 AM
 #7


It says the nominal world GDP is $61.96 trillion. So yeah you were off by about three zeroes.
bg002h
Donator
Legendary
*
Offline Offline

Activity: 1288


Got GLIPH? https://gli.ph/m *p-d-d


View Profile WWW
July 19, 2012, 02:25:13 AM
 #8

are you interpolating from the 2010 data and 2017 incremental GDP estimate? If so, your number should be about 30 trillion dollars (about 1000x less)

My very own Casascius Bearer Bar: 1GCDzqmX2Cf513E8NeThNHxiYEivU1Chhe
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
July 19, 2012, 02:27:50 AM
 #9

are you interpolating from the 2010 data and 2017 incremental GDP estimate? If so, your number should be about 30 trillion dollars (about 1000x less)

Sorry my source for trillions in english wasn't correct. French and English numbers aren't the same. I'll correct it.

Clipse
Hero Member
*****
Offline Offline

Activity: 504


View Profile
July 19, 2012, 02:34:56 AM
 #10

Now lets account for the extra $60 trillion reprinted out of thin air, suddenly the world economy is pretty small. Tongue

I really love money and more so my own money but this follow statistic the just so fucking sad:

People paid below US$2 per day   ~3.25 billion (~50%)

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
July 19, 2012, 02:38:36 AM
 #11

Now lets account for the extra $60 trillion reprinted out of thin air, suddenly the world economy is pretty small. Tongue

I really love money and more so my own money but this follow statistic the just so fucking sad:

People paid below US$2 per day   ~3.25 billion (~50%)

Unfortunately... That's why bitcoin rock!!

Clipse
Hero Member
*****
Offline Offline

Activity: 504


View Profile
July 19, 2012, 04:14:14 AM
 #12

Now lets account for the extra $60 trillion reprinted out of thin air, suddenly the world economy is pretty small. Tongue

I really love money and more so my own money but this follow statistic the just so fucking sad:

People paid below US$2 per day   ~3.25 billion (~50%)

Oh dear spaghetti monster, wtf did I just type in that sentence  Huh Let me try again.

I really love money and more so my own money but the following statistic is just so fucking sad:

People paid below US$2 per day   ~3.25 billion (~50%)

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
MemoryDealers
VIP
Legendary
*
Offline Offline

Activity: 1005



View Profile WWW
July 19, 2012, 05:42:14 AM
 #13

These calculations are thanks to Arthur Britto:


Amazon
Amazon grosses $38 billion per year.  Assuming a 3% transaction fee, Amazon pays $1 billion a year in transactions fees.  Amazon nets $1 billion per year.  Amazon could double their profits by doing all transactions in Bitcoin.  If the market cap for bitcoin was $38 billion, each bitcoin would be worth $5,400.

Gambling
The online poker market is $4.8 billion a year industry. Online gambling will follow poker and is a $30 billion a year industry  If the market cap for bitcoin was $30 billion, each bitcoin would be worth $4,300.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1747646

Gas stations
Credit card companies charge gas stations a 2% transaction fee.  By eliminating credit card transaction fees, gas station owners could double their profits. The US consumes 65 billion gallons of gasoline per year.  At $3.60 per gallon, this could be a $234 billion dollars going through the bitcoin economy's per year. If the market cap for bitcoin was $234 billion, each bitcoin would be worth $34,400 dollars.


International Remittance
International remittance is the transfer of money by a foreign worker to their home country.  In 2007, remittance worldwide transferred $300 billion dollars.  Western Union fees for remittance can run from about 4 percent to 20 percent or more.  If the market cap for Bitcoin was $300 billion, each bitcoin would be worth $42,000.

MaxSan
Sr. Member
****
Offline Offline

Activity: 368


View Profile
July 19, 2012, 05:58:20 AM
 #14

These calculations are thanks to Arthur Britto:


Amazon
Amazon grosses $38 billion per year.  Assuming a 3% transaction fee, Amazon pays $1 billion a year in transactions fees.  Amazon nets $1 billion per year.  Amazon could double their profits by doing all transactions in Bitcoin.  If the market cap for bitcoin was $38 billion, each bitcoin would be worth $5,400.

Gambling
The online poker market is $4.8 billion a year industry. Online gambling will follow poker and is a $30 billion a year industry  If the market cap for bitcoin was $30 billion, each bitcoin would be worth $4,300.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1747646

Gas stations
Credit card companies charge gas stations a 2% transaction fee.  By eliminating credit card transaction fees, gas station owners could double their profits. The US consumes 65 billion gallons of gasoline per year.  At $3.60 per gallon, this could be a $234 billion dollars going through the bitcoin economy's per year. If the market cap for bitcoin was $234 billion, each bitcoin would be worth $34,400 dollars.


International Remittance
International remittance is the transfer of money by a foreign worker to their home country.  In 2007, remittance worldwide transferred $300 billion dollars.  Western Union fees for remittance can run from about 4 percent to 20 percent or more.  If the market cap for Bitcoin was $300 billion, each bitcoin would be worth $42,000.

Excellent post. will be quoted.
mystery2048
Member
**
Offline Offline

Activity: 70


View Profile
July 19, 2012, 06:26:37 AM
 #15

If bitcoin was used for every single trade made by every single person on the planet, the system would collapse in about 0.5 seconds... Smiley The internet would probably also collapse... We would probably need much more capacity, hard drives would be too small, processing power too slow, and we would need like a few hundred different crypto currencies...

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
a63ntsm1th
Member
**
Offline Offline

Activity: 94


View Profile
July 19, 2012, 06:34:35 AM
 #16

You are comparing apples and oranges by comparing GDP to total bitcoins.  GDP has very little to do directly with how much currency is in existence.

Also this question inspired the publishing of an article I had been working on for my blog:

http://abitcoinblog.com

just my .02 btc
adamstgBit
Legendary
*
Offline Offline

Activity: 1904


Trusted Bitcoiner


View Profile WWW
July 19, 2012, 06:46:14 AM
 #17

If bitcoin was used for every single trade made by every single person on the planet, the system would collapse in about 0.5 seconds... Smiley The internet would probably also collapse... We would probably need much more capacity, hard drives would be too small, processing power too slow, and we would need like a few hundred different crypto currencies...


Click Here

mystery2048
Member
**
Offline Offline

Activity: 70


View Profile
July 19, 2012, 07:00:09 AM
 #18

If bitcoin was used for every single trade made by every single person on the planet, the system would collapse in about 0.5 seconds... Smiley The internet would probably also collapse... We would probably need much more capacity, hard drives would be too small, processing power too slow, and we would need like a few hundred different crypto currencies...


Click Here

Also, what about those that have no access to a computer or internet (or easy access) ?

Important: https://bitcointalk.org/index.php?topic=92424.0;all

Donations: 1HWMQv2VYviAgpy6NWNvVg9JhKm4zcMGS5
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
July 19, 2012, 07:15:04 AM
 #19

If bitcoin was used for every single trade made by every single person on the planet, the system would collapse in about 0.5 seconds... Smiley The internet would probably also collapse... We would probably need much more capacity, hard drives would be too small, processing power too slow, and we would need like a few hundred different crypto currencies...


Click Here

Also, what about those that have no access to a computer or internet (or easy access) ?



We'll just have to wait for them to come out I guess.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
DannyHamilton
Legendary
*
Offline Offline

Activity: 1624



View Profile
July 19, 2012, 07:23:19 AM
 #20

. . .this could be a $234 billion dollars going through the bitcoin economy's per year. If the market cap for bitcoin was $234 billion, each bitcoin would be worth $34,400 dollars. . .
Transaction volume and Market Capitalization are not the same thing. As an example, the current Market Capitalization of bitcoin is $84,259,656 USD, but there were a total of 1,401,770.17 BTC sent during the past 24 hours.  If the past 24 hours are considered typical (or average), then the total transaction volume per year would be $511.6 million dollars. And yet the current value of bitcoin certainly isn't $53.92 USD per BTC.

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!