Wonderfully insightful. I agree though that these values go way out of range of what could be considered reasonable. By reasonable, if a Bitcoin was worth $1B, then the implied value of say even 16 million bitcoin would equal $16 quadrillion which is a crazy multipler on top of the fact that we only have around $4 Trillion in total currency worldwide right now.

Other assessments may compare it to the $5.3 Trillion forex market where Bitcoin may take up 5-10% of the volume of trades in a decade or so. If that is the case, then we might say the total volume of Bitcoin could be some multiplier of the trading volume it does at that point. Let's say that means Bitcoin represents $250 - $500B of trading volume in a day and have a 10x multiplier, that would give us Bitcoin worth around $5 Trillion. Divide that by 21 million and we'd get around $125,000 to $250,000 per bitcoin.

Back of the envelope stuff here and a lot of implied values from my description but perhaps looking at forex and remittance markets may be another way to value it. Though I do love network of valuing it via it's network. Just goes to show that we still haven't quite gotten our collective heads around how to value our crypto space and there are so many ideas floating around.

Keep it up. Loved reading this post