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1 satoshi will be worth exactly 1 cent if bitcoin matches golds market cap
Here's the math, from what I just googled: Gold market cap: 21.7 trillion. Bitcoin market cap: 1.92 trillion. 21.7/1.92 = 11.3. So bitcoin would need to grow 11.3 fold to reach gold's market cap. The value of 1 satoshi is currently $0.000948. Multiply this by 11.3 and you get .... drumroll .... $0.0107. Almost exactly 1 cent. Quite a coincidence that the smallest unit of bitcoin will match the smallest unit of USD when bitcoin is at par with it's closest comparable asset. It makes me wonder if this played into Satoshi Nakamoto's original decisions on how many bitcoins / satoshi to design the network for. The counterargument to this would be that back in 2009 the market cap of gold was about a quarter of what it is now, so that would mean he designed a satoshi to eventually be worth 0.25 cents at gold parity. On the other hand, he could have worked out some nominal rate of growth for gold, and an expected time span for bitcoin to match gold, which would make it closer, depending on the numbers you use. Either way, in a logarithmic sense it's remarkably close submitted by /u/PearCompetitive6449 [link] [comments]
Here's the math, from what I just googled:
Gold market cap: 21.7 trillion. Bitcoin market cap: 1.92 trillion. 21.7/1.92 = 11.3. So bitcoin would need to grow 11.3 fold to reach gold's market cap. The value of 1 satoshi is currently $0.000948. Multiply this by 11.3 and you get .... drumroll .... $0.0107. Almost exactly 1 cent. Quite a coincidence that the smallest unit of bitcoin will match the smallest unit of USD when bitcoin is at par with it's closest comparable asset.
It makes me wonder if this played into Satoshi Nakamoto's original decisions on how many bitcoins / satoshi to design the network for. The counterargument to this would be that back in 2009 the market cap of gold was about a quarter of what it is now, so that would mean he designed a satoshi to eventually be worth 0.25 cents at gold parity.
On the other hand, he could have worked out some nominal rate of growth for gold, and an expected time span for bitcoin to match gold, which would make it closer, depending on the numbers you use. Either way, in a logarithmic sense it's remarkably close
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