There is a back of the envelop way to normalize purchasing power.
Fiat: there is approx $100T in currency worldwide* There are 7B people, thus avg distribution is $14,500 per person. Now being "rich" I would argue is $4M (defined as can live off interest and be inflation protected for rest of life). So, being rich is 280x more than per capita distribution
BTC: In a world where all 7B ppl use bitcoin, that is a per capita distribution of .003 coins each. Thus if "rich" is 280x base, this means 0.84 BTC will be rich (.003 x 280) Therefore this puts a purchasing price guesstimate at 1BTC = 4.7M
* the amount of currency avail worldwide is debatable but 100T is widely quoted
Nicholas Gonzalez
BTC is on its way to 15-20 million a coin, because people are fucking retarded. Before 2030.
Xavier Cooper
great insight thanks user. I keep telling normies bitcoin is shorting fiat but they don’t understand. I tell them I will vote for yang in 2020 to give everyone 1k and they think im stupid lol if that happens fiat will crash and my bitcoin will moon
Nathan Jenkins
ok op i been doing some math with the info that some anons here put.
As user here put The market cap of 1tn is not that big is only 5 times the current one.
Today there is 17788175 coins already mined 586825 till next halving to be mined 328500 to be mined from may 2020 to may 2021(halving effects are usually delayed so i added a year here).
This gives us 18703500 BTC in existance by may 2021. Let's remove Satoshi coins
17703500 in existance by may 2021 now it's estimated that there is 4m bitcoins lost and never moved.
Let's make it 3m for pessimistics reasons. That gives us 14703500 btc in circulation by may 2021.
Add 1 trillion dollars into the market and that gives us a price of 68k per bitcoin.
But in general this is the base price as this thing never finds a price and is always moving so we can expect that after the bubble explodes in late 2021 btc goes to 68k.
it depends. it has no logical reason to hit 60k, but it also had no logical reason to hit 20k. anything can happen with enough market manipulation, tether printing and general retardation. >They are getting sick of our bullshit and need a way to move money around that cant be censored. >non-fungible coin kek
