How high could the price of bitcoin reach?

[Guest]

Since there are only 21,000,000 bitcoin in existence and a growing world population doesn’t that allow for some math simulations?

Just curious what you think if it were left “unchecked”.

[admin]

If your head is not spinning already, consider the amount of narrow money that is held in banks and wallets, under mattresses and in piggy-banks around the world: $31 trillion. 'Narrow' money is defined as physical money: the coins and notes that used to be the standard form of currency before the rise of more derivative forms of payment, such as checks and electronic forms of money.

'Broad' money also includes the deposits in easily accessible bank accounts that can be converted into cash relatively quickly. The sum of money under this definition is $83.6 trillion. 

....

The total market value of publicly traded shares at stock exchanges around the world is $66.8 trillion. Not only is that a fabulously large amount of money, it is also subject to the laws of supply and demand, and highly fiduciary. A run towards or away from stocks would thoroughly deregulate the global economy, and nothing more dramatic than a minus sign in front of that amount would lead to the collapse of global civilization.

Does that sound overly dramatic? If the see-sawing rise of Bitcoin tells us anything, it is that people are losing their trust in money, and other traditional measures of wealth. Let's talk again when the total value of all cryptocurrencies surpasses that of the world's supply of gold...

http://www.businessinsider.com/bitcoin-compared-to-all-of-the-worlds-money-2017-6

 

[admin]

[Guest]

Bitcoin $1,000,000!!

We first mentioned John McAfee’s love for bitcoin BTCUSD, -5.85%  back when the crypto was closing in on $3,000. At the time, the cybersecurity legend said bitcoin was showing some enormous momentum and had plenty of upside. Then, in July, he took it up several notches and said bitcoin would hit $500,000 within three years or he’d eat a NSFW piece of himself. McAfee upped the ante a few months later. It’s hard to give him too much credit for these calls, and they still seem pretty outlandish. But his original call from back in May -- “Bitcoin has enormous momentum” -- certainly hit the mark.