Quote from: jasonjm on November 08, 2013, 05:35:52 AM

Quote from: Queezy on November 08, 2013, 05:23:49 AM

Ummmm.....
So you think.....
But that's not how....
Oh nevermind....
let's just hope you aren't being serious

not saying it would happen.

All I am saying is if it did happen, that is what the number would be.

I own gold and silver to diversify, and this year decided to allocate a full 3% of my net worth to BTC as an insurance because I like the concept of the mobility and non confiscation.

I am sure there are others who think the same way I do, so in a way, yes I am being serious. It's very unlikely, but if it were to happen, that is the number, since I have always wondered what would happen if bitcoin really become a store of value like that.

you can take my numbers a step further: assume only 10% of the worlds top 1% decided to keep 1% of their net worth in BTC. The number is still $9 269 per coin.

jasonjm, I think what Queezy is getting at is that your logic wasn't exactly right.

What you are trying to say, I think, is that if the "market cap" of bitcoin was equal to 1% of the net worth of the top 1%, then each bitcoin would be worth approximately $92,964.

If the top 1% did as you say and actually moved 1% of their wealth into bitcoin, the price of the last bitcoin bought with all that money would probably be vastly greater than $92,964. Think about what would happen if trillions of dollars were dumped onto BitStamp!! So your estimate was conservative Shocked