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Imagine owning 1/21,000,000th of all the USD! Based on M0, you'd have about $148,090.
by petercooper 13y ago
Imagine owning 1/21,000,000th of all the USD!
Based on M0, you'd have about $148,090.
- pdog 13y agoIt probably makes more sense to compare it to the broader M2 and M3 money supply.
- meric 13y agoWhy do you say that? If and when bitcoins become borrowed and deposited at banks, there can potentially be a lot more supply of bitcoins.
- petercooper 13y agoA genuine 'why?' I'm reasonably naive on these issues, but there's no fractional reserve banking of Bitcoin yet, is there? M2 and M3 include savings, all of which couldn't be converted directly into underlying currency, whereas every Bitcoin is clearly traceable and exists as a unit of currency. Disclaimer: I am no economist or financier.
- rmc 13y agoBut you can buy 1 bitcoin for ~ $300 today. That means in a few years, it'll be worth $148,090!!! No wonder the price is going up! (presume bitcoin takes off this way)