Thread - Nostr Hypermedia

$1,000,000/coin Bitcoin numbers: I crunched some numbers to give possible prices in sats when bitcoin hits $1,000,000/coin. I used the more realistic gold price before the dollar was significantly devalued by the Fed. This is a rough estimate. According to Steinway (https://www.steinwaybocaraton.com/knowledge-base/historical-prices-of-steinway-pianos), a new Steinway B was ~$1,050 in 1900 According to pianobuyer.com, A new Steinway B today in 2023 is ~$134,900 1050/134,900=~0.0078 0.78% of the current price was the price before the Fed and significant dollar devaluation. $100,000 today would be roughly $780 in 1900 based on these numbers. $5 coffee today would be ~$0.04 If bitcoin is $1,000,000/coin, it would be 100sats/$1 A $5 coffee today would be 4 sats.

Replies (8)

npub1cm8y...8gft 2 years ago

#[0]

Chilidem 2 years ago

Is this factoring in improved efficiencies in supply chain, manufacturing, etc?

1 replies ↓

Chilidem 2 years ago

#[4], your thoughts?

AJ Nobody ⚡🏴 ajnobody@nostrplebs.com 2 years ago

My wife's gonna be pissed when she sees how much I was zapping people in this epoch. 🤣

npub1xuam...kdnq 2 years ago

I would assume so as this is the current price of a Steinway B according to Steinway. Steinway would have factored in any improvements to manufacturing or new additional costs.

Jimmy jimmy@nostr.land 2 years ago

So until we cannot buy a coffee for 1-2 sats (an esspresso shot costs 1-3$ where i live) we have not hit $1M BTC.

1 replies ↓

npub1xuam...kdnq 2 years ago

Sounds reasonable, according to these numbers anyway.

npub1xuam...kdnq 2 years ago

I’m not sure what this is saying, but I did my formula backwards from sats to current and got an interesting number. If I take 100sats and divide by 100 to get 1900 price of $1 at $1mil/coin, then divide by the ratio 0.78% I get $128.21 which I believe would be the purchasing power of 100 sats in 1900 if bitcoin existed then. 🤔 Purchasing power today * 0.78%=$in1900 $in1900 * 100sats/dollar=sats at $1mil/coin Sats/100=$in1900 $in1900/0.78%=purchasing power if inflated like the Steinway B. If this is true, 100sats would equal $128. 🤯 #[0]