A couple of days ago I read a comparison between the market cap of gold and the market cap of bitcoin (might have been on here, not sure), and that if bitcoin were to reach roughly the same market cap as gold, it would mean a price at around 210 00 usd.
This got me thinking, how is the market cap of bitcoin calculated? as far as I have seen its the current price of bitcoin multiplied with whatever number of bitcoins have been mined. Would this not be an inefficient way of calculating the market cap? We know that X amount of bitcoin is forever lost due to lost keys and such. Even though no-one knows what that number is, isn't it likely that it is a large enough number to lower bitcoins market cap, and therefor make bitcoin undervalued?
And lets say, over the next 20 years, will not lost coins cause a huge increase in price by itself?
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