The Prestige on Nostr: You think $1 Million is Crazy? Meet Hal, A week after #Bitcoin went live in 2009, ...
You think $1 Million is Crazy?
Meet Hal,
A week after #Bitcoin went live in 2009, predicting $10 Million 🤯
Vivek4real_ (npub1ptv…nk9f)
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.
So the possibility of generating coins today with few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal
Meet Hal,
A week after #Bitcoin went live in 2009, predicting $10 Million 🤯
Vivek4real_ (npub1ptv…nk9f)
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.
So the possibility of generating coins today with few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal