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/biz/ - Business & Finance

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2847468 No.2847468 [Reply] [Original]

Sorry guys, I crunched the numbers

If bitcoin held its value in comparison to gold, then bitcoin is worth approximately:
$3857

bitcoin needs to exeed gold tremendously for 1 btc = 50k, itll never happen.

>> No.2847480
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2847480

The equation I came up with:

If you own 1/21million of all bitcoin ever mined, you have 1 bitcoin.
If you own 1/21million of all gold ever mined, you have $3857.

>> No.2847491

>>2847480

Are you retarded?

Gold has more demand. When the demand for Bitcoin increases so will it's price.

>> No.2847495

>>2847480
not possible

>> No.2847506

>>2847468
Gold is inherantly valuable. What is a bitcoin? Can you hold it your hand?
You idiots are literally buying something that doesn't exist.

>> No.2847520

>>2847506
> Gold is inherantly valuable

Why did gold have value before it was used in consumer electronics?

>> No.2847530

>>2847520
Because it's shiny and people like shiny things.

>> No.2847543

>>2847530
gold is not shiny, it takes a lot of work to give it a shiny surface, silver and even iron is more shiny than gold

you have watched too many cartoons

>> No.2847555

>>2847506
Cool so what value does a dollar have again?

>> No.2847557

>>2847543

Yes but only gold has that beautiful golden hue.

>> No.2847559

>>2847555
dollars are vouchers of vouchers for gold

>> No.2847561

>>2847555
The value of the dollar used to be tied to gold reserve. Now the dollar is basically just a food stamp that you can trade for goods and services.

>> No.2847579
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2847579

>>2847561
>The value of the dollar used to be tied to gold reserve

you really dont know jackshit about economics do you, anon?

>> No.2847617

>>2847543
This guy is 12. Gold is a not very reactive metal most gold found in nature is pure you spaztic thats why nuggets and flakes are a thing. Refining gold is also super easy

>> No.2847622

>>2847579
It "used" to be tied to gold. ffs how many people in biz actually know what they are talking about. If kiddies stopped commenting everyone would be able to make a lot more money.

>> No.2847680

>>2847480
Nigger detected.

>> No.2847728

The whole gold market cap is 8 trillion so if bitcoin's cap becomes 8 trillion price becomes 489.000$

>> No.2847877

>>2847506
can you even start to define inherent value?

value is in the agent's perception, not in the stuff, fucktard
it's an insight

things have phisical properties which actually are intrinsec, so gold, just as bitcoin, has some intrinsec PROPERTIES, QUALITIES, CHARACTERISTICS

and the sum of these happens to awaken interest in us, because we discover value in them, as tools to solve problems.

Gold is a meme without any intrinsec value, just like btc

value derivates from intrinsec properties + insightful/brightened/oportunistic perception