My thesis is that bitcoin will absorb all other assets’ monetary premiums, so we can’t start by measuring in terms of units that are expected to be absorbed.
Once we estimate how much stored time Bitcoin might represent, then we can backport this to today’s fiat currency units.
Money’s purpose is to be the item one holds because they have the highest confidence that others will accept it later.
Anyone can independently verify the ledger in its entirety, without relying on a trusted third party.
By having money, you can afford to stop earning income for a time and spend out of your savings.
According to a 2020 Acorn study, the average amount that Americans need to have saved to feel comfortable is about $76,700.
Now that we’ve worked out a rough estimate of each bitcoin’s value in terms of human time, let’s fold the fiat currency price back in.