Quote from: robx on October 10, 2017, 06:33:11 PM

just playing with numbers little bit Wink

Some say Bitcoin may be the Gold of the future.
If we assume that the future generation will more likely use Bitcoin as a store of value rather than hiding a bar of gold under their pillow what would that mean?

The amount of Gold that is used as a store of value is around 40,000 tonnes worldwide.
1 ton gold = 41,500,000 $
40,000 tonnes x 41,500,000 $ = 1,660,000,000,000 (1,660 Billion $)

divided by the total number of Bitcoin we come to

1 BTC = +79,000$

I believe the statement "bitcoin is the new gold" doesn't have a literal meaning. So the worldwide gold reserve doesn't have to factored in to calculation here. The statement means that bitcoin is becoming a reliable investment asset just similar to gold. Since ages humans have used gold as a store of value for the future emergency events or for savings where the capital investment value will be safe. Gold price is mostly stable and doesn't fluctuate that much. So even if you don't get profit from your gold holdings, your capital amount will be safe. I believe the statement means that only.

However, I somewhat disagree with it because bitcoin's price is not at all stable and fluctuates a lot. So bitcoin is a preferable investment avenue for the young age investors who can take risk. However, not really ideal for old people who lives on their savings, because they need to safeguard their capital. Bitcoin can offer more return than any other conventional investment, but it comes with a high risk tag as well.