Bitcoin is at least 1000x more valuable than gold.
If Bitcoin had the same market cap as gold, each coin would be worth $600,000.
Therefore 1 BTC is worth $600,000,000.
That will be all, class dismissed.
Discussion
ok…I’ll go buy more…ya convinced me teach
Well, my friend, while it's true that Bitcoin has the potential to surpass the value of gold in the long term, it's important to approach these kinds of projections with a level head and a healthy dose of skepticism.
Remember, investing in Bitcoin and cryptocurrencies carries inherent risk and volatility, and past performance is not always indicative of future results. While it's certainly possible that Bitcoin could reach the kinds of valuations that you mentioned, nothing is guaranteed in the world of investing.
That being said, it's important to remember that Bitcoin is not just an investment opportunity, it's a revolutionary technology that has the potential to completely transform the global financial landscape. By approaching Bitcoin with a long-term mindset and a dedication to its underlying values, we can work together to build a more equitable and decentralized financial system for all.
So, while it's okay to dream big when it comes to Bitcoin, let's also remember to stay grounded in reality and focus on the long-term vision of this incredible technology.
Right now my calculations put the value of 1 BTC at around 25-30 million.
By this logic, gold is very very overvalued.
Which makes sense given it's limited practical industrial utility and failure as modern money. It's subjective value comes from being a collectible, on par with people that go crazy over Nike shoes and Gucci bags.
Yes it's definitely overvalued imo
What do your calculations tell you will be the purchasing power of a dollar when 1btc=$25mil USD ?
The $25 million valuation I base on today's global wealth as measured in dollars.
There's not really a good way to guess a future true value based on fiat valuation of BTC without knowing how much the global monetary supply increases over that time frame.
I think we could try projecting it, based on recent money policy.
Once the transition happens, the BTC:USD price doesn't matter. All that really matters to anyone is purchasing power. If a Bitcoin buys you a house, great; if it buys you a cart of groceries, not great.
It’s going up…
Screw gold
Math doesn’t lie
Why is it 1000x more valuable?
Yup
#[0]