Saturday, 23 November 2013

Fun with a little Bitcoin Math.

(Disclaimer: this is a blog about fishing, mainly. The principles and math herein might be partly or completely wrong but bear in mind, I try to outwit prehistoric cold blooded tiny-brained creatures for a pastime but I also happen to be turning into a Bitcoin enthusiast.)

1. The population of the planet is about 7 Billion. If 1/10th of the population bought into Bitcoin for $100US each it would mean that each Bitcoin would be worth about $6000.00US if we count the money already invested in the curremoddity. (A new word, it needs to catch on. Thank-you).

2.  If you buy a bitcoin today at $820US (more or less its current value) and this coming year it repeats its November 23rd 2012 to November 22nd, 2013 performance, that single Bitcoin will be worth  $50,556US on November 22nd 2014. If Bitcoin performs dismally and does only 1/12th as well as it did during the last 12 months your $820US investment will be worth "just" $4210US.

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