4 ms·
$500,000: BTC market cap approximately equal to value of all mined gold.
by s17n 9y ago
$500,000: BTC market cap approximately equal to value of all mined gold.
- bpicolo 9y agoThere's really no actual reason it should have value equal to the value of all mined gold though.
- down 9y agoyes, bitcoin is better then gold, will probably get higher
- acchow 9y agoExcept, the millions of gold holders (including in jewelry, etc) around the world can transact among each other at any time. Bitcoin can handle 3-7 transactions per second.
- ryanwaggoner 9y agoThere’s no actual reason that gold should have the value it does, either, other than the global shared delusion of it as a store of value.
- ghostbrainalpha 9y agoI see that number all the time as well, but i'm confused. There is less than 2 Trillion in Gold in the entire world. If you divide 2 Trillion / 21 Million (total number of possible bitcoins), you would get BTC of $100,000 equals the market cap of Gold. Not $500,000. By my math BTC of $500,000 would be 5x the market cap of gold. Would someone explain how my math is wrong?