Post
Topic
Board Speculation
Re: $10,000 when?
by
labsbitforum
on 19/11/2014, 19:46:46 UTC
When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $13.1 Billion

Its not going to happen.  

Edit: Yes I made a simple error.  I had excel open working on something else and copy paste failed me.  Corrected.  Doesn't change my point that that level is not realistic or sustainable.  dinofelis 6 posts below offers the only scenarios remotely plausible where this could happen.