Gold : Silver : Bitcoin

Was just thinking about how we use the Gold to Silver ratio to determine a price for Silver based on scarcity and thought would play around with Bitcoin to see what I get

Just done some quick google searches for the total above ground Gold and Silver and averaged them out to;

175,000 tons of Gold = 5,626,380,650 troy ounces
1,420,000 tons of Silver = 45,654,060,127 troy ounces

Silver:Gold (8.114 to 1) might be a bit low, I was thinking between (9-12) but will run with it

So there are 8.114 ounces of Silver to each ounce of Gold so at the current spot price of Gold at US$1,117 per ounce then divided by 8.114 = US$137.66 for Silver

Now looking at units of Bitcoin = 14,800,000 BTC

Gold:Bitcoin (380.16 to 1) so there are 380.16 ounces of Gold to each Bitcoin so US$1,117 per ounce multiplied by 380.16 = US$424,638.72 for Bitcoin

Doesn't prove anything but I just found it interesting

 

the historical gsr is 14 if i remember exactly

 

I needed a laugh before bed.
Thanks nintendo ,aka Chris Duane?

 

I do not know who chris is, but if you had a lough before you are to bed i am happy. Have a good night.

I was wrong with 14, it was 15 between the years 1800-1900
I do not have a english link but if you are interested in you know where to find it.

 

better to rate btc to ltc, the crypto gold to silver ratio.

interesting as has been as low as 30 recently and trading as close to 100 now. best to compare apples with apples