And yet, (using all of the previous assumptions) if bitcoins were valued ONLY 1/1000th as much as "monetary" gold, they'd be worth a total of $2 billion, i.e. roughly $95 / BTC. If they were valued AS MUCH as monetary gold, they'd be worth $95,000 a piece. Of course, since bitcoins are at least 10 times BETTER than gold, they should really be worth no less than $950,000 each. And yet, I can't help but notice that I still live with my parents and drive an '89 Geo Metro. That raises a few questions:
1) Why aren't I filthy rich yet?
Ask the average person on the street if they think gold is valuable (could be almost any country). I bet you get a pretty much 100% strike rate. Now ask them if bitcoins are also valuable? If you get more than 1 in 100 people actually knowing what a bitcoin is and why someone should want one, I'll give you a cookie.
Just because something is rare and/or of limited quantity doesn't mean it should skyrocket in value. But you already know that.