what if bitcoin was as common as gold

[adamstgBit]

what would bitcoin price be, if their were as many bitcoins are their is Oz of gold?

put that in your pipe and smoke it!
 

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[ElectricMucus]

Nifty another bullion vs. bitcoin thread.  
It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casascius coins yet?  

[adamstgBit]

Nifty another bullion vs. bitcoin thread. 
It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet? 

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

[ElectricMucus]

Yeah that sounds about right. So in about 6000 years bitcoin prices should be up by a factor of 34,000.

 

[legolouman]

Nifty another bullion vs. bitcoin thread. 
It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet? 

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

Where did you get that number?

[adamstgBit]

Nifty another bullion vs. bitcoin thread.  
It's somthing like if the entire gold were in good delivery bar there would be as many bars as bitcoin. Does that answer your question?

Any plan on convincing the Rothschilds to switch to Casasicus coins yet?  

huh?

i want to know what the price would be if the supply of bitcoin was the same as the supply of Oz's of gold

assuming their is about 5,079,817,925 Oz of gold

bitcoin would be worth 0.0475$ each with the same supply

Where did you get that number?

http://www.coinweek.com/bullion-report/how-much-gold-is-there-in-the-world/

then i did

21,000,000 / 5,079,817,925 * 11.5

[BrightAnarchist]

I think another interesting ratio is # ounces gold / # btc

Which is 5,079,817,925 / 21,000,000 ~= 241

That is, BTC should be worth 241 ounces of gold if we assume parity in terms of utility.

With gold at $1571, that's 241 * $1571 ~= $378K per BTC

and with bitcoin at $11.42, if we went to $378K, that would be a gain of 33,000 times your investment, or about a 3 million percent gain.

LOL

[Roger_Murdock]

I think another interesting ratio is # ounces gold / # btc

Which is 5,079,817,925 / 21,000,000 ~= 241

That is, BTC should be worth 241 ounces of gold if we assume parity in terms of utility.

With gold at $1571, that's 241 * $1571 ~= $378K per BTC

and with bitcoin at $11.42, if we went to $378K, that would be a gain of 33,000 times your investment, or about a 3 million percent gain.

LOL

Parity with gold is a completely unrealistic assumption. Bitcoin is as least ten times better than gold.  It should be worth, at a minimum, $3.8 million per BTC.

[conspirosphere.tk]

Moreover the gold world stock is growing at around 2% per year if I remember well, and there is still a lot of it to mine on the bottom of the seas and in the earth mantle (if they find a way). And no part of the gold world stock can be lost forever nor destroyed easily if at all (in contrast with BTC), so BTC are going to be very deflationary compared with gold (I fear quite too much).

[ElectricMucus]

Playing devils advocate here, you people forget golds 6000 year track record. That means alot and is the main reason it is viewed as valuable.
So I doubt BTC would even reach gold parity within our lifetime. (That would be 1BTC == 1OZ gold) the next two decades.

Once you can give BTC to your grandchildren you can think about gold parity and beyond. But first it has to stick around some time to be recognized.

[TECSHARE]

There is a problem with your premise. We do not know how much gold we have on earth or if it can be found on other planets even, we do however know EXACTLY how many Bitcoins will be mined. Kind of comparing apples and something somethings.

[mc_lovin]

plus bitcoin is more spendable than gold.  you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin! 

gold has very few uses in this world except just sitting there and holding value.

[ElectricMucus]

plus bitcoin is more spendable than gold.  you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin! 

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

[adamstgBit]

plus bitcoin is more spendable than gold.  you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!  

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

physically transferring  single gold atoms isn't easy

physically transferring  0.00023 BTC on the other hand is very easy  

[TraderTimm]

physically transferring  single gold atoms isn't easy

physically transferring  0.00023 BTC on the other hand is very easy  

Don't worry about it, adamstgBit - Mucus gets offended when people use their thinkmeats to posit possible future trends.

[cbeast]

You can always manufacture gold.

[ElectricMucus]

plus bitcoin is more spendable than gold.  you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!  

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

physically transferring  single gold atoms isn't easy

physically transferring  0.00023 BTC on the other hand is very easy  

I haven't said anything about physically transferring them at least not now.  And a physical transfer doesn't apply to bitcoins.

You can always manufacture gold.

Of course you can but it will most likely be never economical to do it.

For those who wonder what this is about: http://www.rfreitas.com/Nano/TangibleNanomoney.htm

@TraderTimm I just like to use my thinkmeats to play devils advocate, that is offering people a different opinion when they think something is written in stone

[notme]

plus bitcoin is more spendable than gold.  you can't easily send 0.01 Oz of gold to someone, but you could with bitcoin!  

gold has very few uses in this world except just sitting there and holding value.

Sooner or later you will be able to trade single gold atoms.

physically transferring  single gold atoms isn't easy

physically transferring  0.00023 BTC on the other hand is very easy  

I haven't said anything about physically transferring them at least not now.  And a physical transfer doesn't apply to bitcoins.

You can always manufacture gold.

Of course you can but it will most likely be never economical to do it.

For those who wonder what this is about: http://www.rfreitas.com/Nano/TangibleNanomoney.htm

@TraderTimm I just like to use my thinkmeats to play devils advocate, that is offering people a different opinion when they think something is written in stone

But only with bitcoin can you eliminate counterparty risk.

[ElectricMucus]

But only with bitcoin can you eliminate counterparty risk.

That is a fallacy, you can use the same technology used in bitcoin to facilitate the virtual transfer of gold atoms but you still can get scammed when buying something with bitcoins by the other party. I would even consider the trustless structure of bitcoin one of it's greatest weaknesses.
In detail in order to use bitcoin you have to use it in an environment which can provide you with some trust structure, be it the forums, btc-otc, silkroad, etc..
I still consider it somewhat likely that some day some web-of-trust structure will be available from within the blockchain, that's why I am still longterm bullish on it, but until that issue is solved I merely think of price increases as an investment bubble. And besides some daytrading I don't have any personal use for it. I am considering doing something about this issue but I am not that of a programmer... (No I won't hire you either )

[notme]

But only with bitcoin can you eliminate counterparty risk.

That is a fallacy, you can use the same technology used in bitcoin to facilitate the virtual transfer of gold atoms but you still can get scammed when buying something with bitcoins by the other party. I would even consider the trustless structure of bitcoin one of it's greatest weaknesses.

I mean 3rd party... no matter what you are trading with you have to trust the other person you are doing business with.

In detail in order to use bitcoin you have to use it in an environment which can provide you with some trust structure, be it the forums, btc-otc, silkroad, etc..
I still consider it somewhat likely that some day some web-of-trust structure will be available from within the blockchain, that's why I am still longterm bullish on it, but until that issue is solved I merely think of price increases as an investment bubble. And besides some daytrading I don't have any personal use for it. I am considering doing something about this issue but I am not that of a programmer... (No I won't hire you either )

There are plenty of other trust structures (such as the ones you listed), no need to bloat the blockchain.  Besides, if you centralize the trust structure with an "official" version you open it up to gaming on a scale that can't happen with decentralized trust mechanisms.

I don't want to work on this project, but even if you could pay my weight in bitcoin I don't have the time.