Net worth of richest people in the world compared to bitcoins and money supply of the USD.
According to wikipedia, there are ~29,000 people worth $100M or more.
Here it is in a graphic.
http://en.wikipedia.org/wiki/File:Number_of_High_Net_Worth_Individuals,_2011_v4.jpg
There are also apparently around 1M people who have between $10M and $100M.
If you were to apply that to bitcoins, and assumed that the 21M BTC had been mined, then having 21btc would put you (at a minimum) in the top 1M of all people holding bitcoins, and possibly higher since not everyone would have 21.0 btc.
If BTC goes mainstream and gets away from the serious volatility, does that mean that potentially having 21btc (being a millionTHaire) would be some kind of near equivalent of having $10M-$100M?
If so, on the low end, having 21.0 btc being equal to $10M would mean 1 btc = $476,190.00.
Is that realistic? That would mean the value of all the 21M bitcoins (net currency supply) would be $10 Trillion dollars.
http://www.wolframalpha.com/input/?i=21+million+times+%24476190
$10 Trillion is a lot, but consider this:
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The US Federal Budget is $3.5T http://en.wikipedia.org/wiki/File:U.S._Federal_Spending_-_FY_2011.png
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The currency supply of the US Dollar is $10.5T http://www.federalreserve.gov/releases/h6/current/
If bitcoin took 100% saturation in the US Economy (which it won't) then that would happen instantly. I think it is possible, however, given the global economy.
Once the currency supply of bitcoin is valued at $10T, having 21.0 bitcoins (a millionTHaire) would be similar to having $10M in today's economy.
Posted Apr 13, 2013, 11:36 PM UTC · edited