"Hal Finney" Sun, 11 Jan 2009
Don't rule out any pricing option, look what they were talking about in 2009.
Quote
As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world. Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.
https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.htmlbecomes the dominant payment system in use throughout the world. Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.
Don't rule out any pricing option, look what they were talking about in 2009.
Important clause highlighted. He obviously wasnt looking into a crystal ball and predicting that.
This is why influential people sometimes become wary of any type of what if?, thinking-aloud types of brainstorming in public.
Almost 11 years later with 7.8 billion people in the world, we continue with a high percentage of the population who have no idea about BTC, nor do they know what Bitcoin is, by the time (adoption) BTC reaches the consumer, all the BTC already It will be in the hands of institutions, Hodlers. very rich people, banks, exchanges, whales, miners, (not counting the lost BTC) members of WO
, then it will be when the satoshis enter the market, because few people will be able to pay the full price of 1BTC in 10 or 15 years.<...>
Just to update Hal's Computation with new Numbers:
https://www.visualcapitalist.com/all-of-the-worlds-wealth-in-one-visualization/
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In 2019, total world wealth grew by $9.1 trillion to $360.6 trillion, which amounts to a 2.6% increase over the previous year.
So updating the computation, 360 trillion divided by 20 million gives 18 millions.
1BTC=1BTC= 18,000,000 USD
My body is ready.