Post
Topic
Board Speculation
Re: $10,000 when?
by
TwinWinNerD
on 19/11/2014, 20:31:50 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 = $493 Billion

Its not going to happen. 

Who told you math? you are off by a factor of 50!