There will only be 21,000,000 bitcoins ever mined, however the total number of USD in circulation is 10,500,000,000,000$. This means that if we divide the total number of USD in circulation by the total number of Bitcoins, we see that each bitcoin should be worth 500,000$ to have the same value as a USD. - Thanks
*Keep in mind, bitcoin is an international "Currency" so this number could be much higher.
Edit- Here are more comparisons between current commodities and Bitcoin.
Gold- 1.89T$ vs 21,000,000BTC = 90,000$/BTC
Good point. But I think you are treating bitcoin like a currency. It’s not a currency. You can’t buy a cup of coffee with it. Bitcoin is a store of value. It’s gold 2.0. You should compare it with other stores of value like gold, stocks, bonds, or real estate.
Good point, according to my calculations, Bitcoin should be worth 90,000$ each if we are comparing it to gold.
And how did you come up with that figure ?
Bitcoin is going to be worth whatever it will be worth, according to supply and demand. Right now, Bitcoin is in the news. Gold is not in the news. People all over the world are jumping in. There is Bitcoin fever. So there is more demand than there are persons selling Bitcoin. I don't know how high Bitcoin might go, but why only one million? Maybe ONE SATOSHI will be worth $100 dollars, if there is enough demand and not enough supply. It doesn't matter if it is "crazy"... it only matters if there is somebody who wants to pay that much for it.
Not to be picky but I live near a coffee shop that accepts bitcoin.
Congratulations @tristan.macinnes! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @tristan.macinnes! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The semi-finals are coming. Be ready!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @tristan.macinnes! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!