JimboToronto



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You're never too old to be young.







LegendaryActivity: 2674Merit: 1841You're never too old to be young. Re: What % of the Total Market Cap of Gold should Bitcoin represent? December 14, 2016, 05:07:49 PM #3 Quote from: European Central Bank on December 14, 2016, 04:17:17 PM the youth of today seem very happy to abandon old crock stuff like privacy and cash.



That is very scary. It's easy to understand the gullible being brainwashed by advertising into using credit and debit cards, even though it means putting your money at risk by keeping it in banks. Voluntarily sacrificing privacy is another story, yet people now seem perfectly OK with divulging their identity and personal details to any government or other corporations, even sleazy "services" like Facebook.



Aren't liberty and freedom the reasons for fighting the fascists and communists?



Privacy and anonymity are the cornerstones of freedom and liberty. That is very scary. It's easy to understand the gullible being brainwashed by advertising into using credit and debit cards, even though it means putting your money at risk by keeping it in banks. Voluntarily sacrificing privacy is another story, yet people now seem perfectly OK with divulging their identity and personal details to any government or other corporations, even sleazy "services" like Facebook.Aren't liberty and freedom the reasons for fighting the fascists and communists?Privacy and anonymity are the cornerstones of freedom and liberty.

Biodom



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LegendaryActivity: 2436Merit: 1606 Re: What % of the Total Market Cap of Gold should Bitcoin represent? December 14, 2016, 08:47:51 PM #7 Maybe it should be simply proportional to the number of users. I have no way of measuring how many people are actively using gold as a store of value.

Let's assume, at least 700 mil (400-500 mil adult women in India plus everybody else a little).

There are probably less than 10 mil bitcoin users, judging by the number of active wallets.

Therefore, 10/700X7tril=$100bil fair market cap value, resulting in "fair" current price of btc=$5882.

As we can see, price is quite different from fair, which is reflecting much less history in being a store of value (7 years vs thousands).

1Referee



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LegendaryActivity: 2170Merit: 1420 Re: What % of the Total Market Cap of Gold should Bitcoin represent? December 15, 2016, 12:42:12 PM #11 If you purely focus on the market cap of Gold, then I find it to be a tremendous achievement if we even manage to settle at the 1% mark. 1% is +$70,000,000,000 which will require a whole lot more fresh money to flow into the Bitcoin economy. If we somehow find a way to convince traditional investors and other serious minded (financial wise) to not only look at Gold as being a store of value tool, or a hedge against whatever economical situation, then it may not be that unrealistic after all. By that time we might even get to touch the $100,000,000,000 market cap. But at that point I think the government will stand up and force through certain sanctions to push Bitcoin back.

oblomov



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Full MemberActivity: 158Merit: 100 Re: What % of the Total Market Cap of Gold should Bitcoin represent? December 15, 2016, 04:44:01 PM #14 Quote from: BitcoinBarrel on December 14, 2016, 03:51:18 PM Estimates put the Total Market Cap of Gold at around $7 Trillion.



Right now the Total Market Cap of Bitcoin is around $12 Billion roughly 0.15% of Gold.



If there were 20,000,000 Bitcoins valued at $100,000 that would equal $2 Trillion almost 30% the Market Cap of Gold. What is realistic?



I can definitely see how a $10,000-$20,000 Bitcoin may be possible. But you never know, Bitcoin is a revolutionary and convenient store of value in this digital era compared to Gold which is heavy, easy to steal, and more difficult to store, sell/transfer.



I was talking with a professional money manager (AUM of ~USD 10B) last week. He is bullish on BTC as an asset class.



He says that an upper estimate for the ultimate value of BTC is that it could equal the nominal value of all assets (the sum of government, corporate, and personal debt), which is about $66T.



To me, this seems like lunacy- it would necessitate a price of $4.3M per BTC. But it is of course a speculative upper bound.



In the next 5-10 years, I think $10K BTC is possible, if not likely.



I was talking with a professional money manager (AUM of ~USD 10B) last week. He is bullish on BTC as an asset class.He says that an upper estimate for the ultimate value of BTC is that it could equal the nominal value of all assets (the sum of government, corporate, and personal debt), which is about $66T.To me, this seems like lunacy- it would necessitate a price of $4.3M per BTC. But it is of course a speculative upper bound.In the next 5-10 years, I think $10K BTC is possible, if not likely.