[s17n]

$500,000: BTC market cap approximately equal to value of all mined gold.

[ghostbrainalpha]

I see that number all the time as well, but i'm confused.

There is less than 2 Trillion in Gold in the entire world. If you divide 2 Trillion / 21 Million (total number of possible bitcoins), you would get BTC of $100,000 equals the market cap of Gold. Not $500,000.

By my math BTC of $500,000 would be 5x the market cap of gold. Would someone explain how my math is wrong?

[bpicolo]

There's really no actual reason it should have value equal to the value of all mined gold though.

[ryanwaggoner]

There’s no actual reason that gold should have the value it does, either, other than the global shared delusion of it as a store of value.

[down]

yes, bitcoin is better then gold, will probably get higher

[acchow]

Except, the millions of gold holders (including in jewelry, etc) around the world can transact among each other at any time.

Bitcoin can handle 3-7 transactions per second.