Where does Bitcoin come from?
The value of bitcoin is created by demand and offer by the need of market.
If you want deeper estimation let assume two hypothetical examples:
Hypothesis 1: * All people in USA has equal savings and all savings are in BC. BC is used only in USA * Average Savings Amount for Americans is 3, 800$. * USA population is 317, 161, 000
Because the number of bitcoins is restricted, let divide the bitcoins equally among people.
317, 161, 000 / 21, 000, 000 = 15.10 BC. In this hypothetical example has every American 15.10 BC and it correpsond to 3800$ of saving. It implies:
1 BC = 3, 800/15.10 = 251.66 $
Let estimate another hypothesis.
Hypothesis 2: * Bitcoin will replace all gold. * There is 171, 300 tons of gold in the world. * The price of gold is 1, 245.5 USD/Troy ounce.
1245.5$/Troy ounce = 40042.825 $/kg
Price of all gold in the world is 40, 042.825* 171, 300, 000 = 6, 859, 335, 922, 500$
If we replace the gold with the bitcoin, we get price:
1BC = 6, 859, 335, 922, 500 $ / 21, 000, 000 BC = 326, 635 $
Another hypothesis:
Hypothesis 3: * All people in the world has it's savings only in BC. * World population is 7, 127, 000, 000
21, 000, 000 / 7, 127, 000, 000 = 0.0029BC
It means that median saving amount of people is only 0.0029BC. It includes babies and poor people in Africa, India..
