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$1,000,000/coin Bitcoin numbers:

I crunched some numbers to give possible prices in sats when bitcoin hits $1,000,000/coin.

I used the more realistic gold price before the dollar was significantly devalued by the Fed. This is a rough estimate.

According to Steinway (https://www.steinwaybocaraton.com/knowledge-base/historical-prices-of-steinway-pianos), a new Steinway B was ~$1,050 in 1900

According to pianobuyer.com, A new Steinway B today in 2023 is ~$134,900

1050/134,900=~0.0078

0.78% of the current price was the price before the Fed and significant dollar devaluation.

$100,000 today would be roughly $780 in 1900 based on these numbers.

$5 coffee today would be ~$0.04

If bitcoin is $1,000,000/coin, it would be 100sats/$1

A $5 coffee today would be 4 sats.

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Discussion

Karl 2y ago

#[0]

Chilidem 2y ago

Is this factoring in improved efficiencies in supply chain, manufacturing, etc?

Chilidem 2y ago

#[4], your thoughts?

BTC Piano Tuner 🎹⚡️⛏ 2y ago

I would assume so as this is the current price of a Steinway B according to Steinway. Steinway would have factored in any improvements to manufacturing or new additional costs.

AJ Nobody ⚡🏴 2y ago

My wife's gonna be pissed when she sees how much I was zapping people in this epoch. 🤣

Jimmy 2y ago

So until we cannot buy a coffee for 1-2 sats (an esspresso shot costs 1-3$ where i live) we have not hit $1M BTC.

BTC Piano Tuner 🎹⚡️⛏ 2y ago

Sounds reasonable, according to these numbers anyway.

BTC Piano Tuner 🎹⚡️⛏ 2y ago

I’m not sure what this is saying, but I did my formula backwards from sats to current and got an interesting number.

If I take 100sats and divide by 100 to get 1900 price of $1 at $1mil/coin, then divide by the ratio 0.78% I get $128.21 which I believe would be the purchasing power of 100 sats in 1900 if bitcoin existed then. 🤔

Purchasing power today * 0.78%=$in1900

$in1900 * 100sats/dollar=sats at $1mil/coin

Sats/100=$in1900

$in1900/0.78%=purchasing power if inflated like the Steinway B.

If this is true, 100sats would equal $128. 🤯

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