Topic: 1 Billion Bitcoin users by 2024 is possible with increased access to electricity (Read 461 times)

I agree, not only an internet is the problem. We might consider that they don't  have the knowledge to start with it? maybe they are afraid that they will only lose money? they still prefer stock market than crypto? or they are not yet ready because of the on going pandemic and bear market? there's a lot of factor with it. Same to the other country, as much as we want to teach them crypto it is not yet possible because electricity is not stable which is very essential just like the internet services.

Its not only that, but also that if people have no electricity in this moment, they will not have the skills to operate the bitcoin network in the next moment. You have to consider that they maybe never used the internet before. How would they operate a wallet and what money would they even have to invest, if they are so poor that they have no electricity in the year 2022.

Even if people starts using solar power to charge their phones and Laptops, what about the connectivity, how they are going to solve that. Since you mentioned that there are places where there is no electricity which means they are not connected to globally. First the government has to think about the infrastructure and then we can think about people using solar power to charge their gadgets .

its 2022 not 2009
you do not need to be a miner to use bitcoin.
you dont need 24/7 access to 3kwh electric to use bitcoin

you can use a cell phone that only requires charging once a week to use bitcoin.

electric is not an issue for bitcoin

asic mining does not determine limitation of transactions per block.

its the dev politics that limit the transactions per block

lets not try turning this into another FAILED excuse of "it cant scale, its broke" because of mining or electric.(usual excuses to shift the blame)

bitcoin can grow without needing lots more electric. it just needs devs to stop being elitist politically/corporation motivated agenda to think that fee's are acceptable at $1 a tx and that billions of unbanked should not use bitcoin(their mantra) just so they can promote their altnets as the things the poor/regular users should use instead

 i think it depends on some criteria. electricity cost is the most common problem for some countires. it is expensive or not fixed. some countries such as srilanka having heavy power cuts these days. and government policies are also must be considered . but your point is about bitcoin users by 2024 . it is possible to have more than 1 b bitcoin userrs by 2024 because of recent rallies and institutional adoption. those big players are encouraging people to invest , mine and keep bitcoin and use it as a payment solution.

Not the entire world but only those extremely poor countries. I think on our local rural areas, many places there will also not be covered by electricity because they are too far away from the city but governments are now putting up an alternatives like solar panels.

There's also hydro, wind and other types of renewable energy in case one isn't available due to weather conditions. Don't forget that the OP's concern is the adoption of bitcoin and not market or the economy of the countries that you mention although I think bitcoin can give some contribution on ones country if done well like governments can do some indirect regulation and then charge a tax for those big transactions.

Ever seen pictures from refugee camps? Sadly its not about electricity and access to technology rather its all about how every person living on the earth can get quality food and water daily at least for one time! That’s the area of major concern in the Africa. Saw some documentaries based on Bill & Melinda Gates Foundation which shown whats the situation out there. You can not really crunch this data and expect some high tech stuff goes boom. There are many who has access to the mobile phone, electricity and Internet but not everyone is capable to be user of the same. This could be due to poverty, family needs, daily survival struggle and what not.

I don't feel poor access to electricity in Africa and other places affects the number of bitcoin users, here is my logic, there are bitcoin adopters in those areas, and they are probably the people that have one less problem to think about, so they can look at bitcoin and investments in general, they are the people that cannot only afford electricity, but other vital needs, so they add bitcoin to their investment if they can work and buy it or earn it directly after offering their service.

But it goes without saying that for the majority that do not have access to electricity and alternatives to it, if we make a hypothetical sitiation where electricity issues is solved by their government for them, there are immediately other problems that rear its head: food, children school fees, money to buy clothes, etc, bitcoin will be last on the list, that is if it makes the list to begin with.

Electricity isn't the problem, but poverty. Even if a poor person works and is paid in bitcoin, they will convert it immediately to cover some of their serious needs, they aren't going to hold it, they do not have the liberty to, people who hold bitcoin are people who can afford to survive without the btc that is held. But the poor person will need fiat to spend easily, but they are still bitcoin users if they earn in bitcoin, even if they do not hold it, but then in the condition they live in, how many have the skill and time to work and earn in bitcoin around there.

I don't really see why electricity would have a factor in people deciding on BTC. By that logic, the western world that takes full benefit of electricity should be at 90% of people's adoption. I really doubt that people who were, just yesterday, without electricity, or with unstable access to electricity, suddenly have spare change lying around to buy a computer, or a smartphone, the tools needed to access crypto investing, let alone have the spare money to actually invest. As for mining, again, people who as of yesterday had no access to electricity will suddenly be buying rigs that can mine BTC. Come on this is a joke right

Electricity plays a major role in all economic sector.
Like as mentioned earlier alternative ways of accessing the internet should also be pursued.

Solar powered phones and laptops? I've never heard about this idea before. Where did you come up with this?
Do you really think that such new technology would be cheap enough? Brand new technologies are usually very expensive at the beginning.
4 billion Bitcoin users by 2030? This seems far-fetched to me. Bitcoin currently has around 30 million users worldwide. Hitting even 100 million worldwide users would be really hard and 1 billion Bitcoin users is close to impossible.
The underdeveloped countries will be facing hard times increasing their electricity production and expanding their power grids.
They would definitely need foreign capital for such massive investment, but the developed countries that have the capital are going to face a recession in the next months or maybe years. Your dreams about mass electrification in Asia and Africa won't come true anytime soon.

The issue of electricity supply have been a major problem for the entire world, and that is why there is a call for nuclear energy if the energy is renewed then enough storage will be easy for transmission. This energy situation is a global phenomenon but Africa is the worst hit simply because of the backwarness in technologies that can help generate more energy and also build a strong facilities to transmits the power to household. A lot of start ups in Nigeria can not survive the market because of lack for electricity. This have been the situation for a long now this if fixe will help to strengthen the economy.

The truth most be told. The description of Africa by the European counterparts as a dark continent is like a paradox. Africa produces the highest natural resources in all ramifications yet it is the poorest in all continents in the world, mostly in Nigeria. I have not slept with light for 24/7 hours a day or used it for 24/7 ours. My phone number is also among this ones.

This is when I was doing National Youth Service in Nigeria in the local area. It is solar panels that were fixed to pump water in the school compound that we were using. And that solar works only in day time because when it is night there would be no sun to Power the solar panels. And national light comes once a while which can not be depended on. Now after the service year, I have to buy a portable solar system in the my room so that I would not depend on the national light.

Then the average amount held will be significantly less than 0.021 BTC in 2024 and less than 0.00525 BTC in 2030, since there will never be more than 21,000,000 bitcoins and those are the values you'd get if you just split up those bitcoins evenly. I assume we're all aware that there'll be a 1% that will hold an amount that is EXTREME in comparison to the average, and a 10% that will hold SIGNIFICANTLY more than the average. As such, the actual amount that the vast majority of people will hold in that circumstance will be significantly less than those averages.

Seems like it'd be a good idea to get your share of 0.005 BTC (or 0.02 BTC) as soon as possible before you get left behind and there isn't enough left for you.

Indeed Constant Electricity has been a major challenge facing some part of Africa and could slow down the number of people who might have access to Bitcoin due to non constant Electricity in those region, However, There is nothing that is impossible , in fact with the way things are going with Bitcoin and together with the building of the fourth industrial revolution going hand in hand with Bitcoin , therefore when people are getting to know that Bitcoin will play a major role, where Bitcoin will be used to pay robbot, self driving cars ,algorithm and drones that will take over the economy then that number 1 billion is very very possible to reach and even more on or before the year 2024.

And the problem is that you will have to trust the exchange reporting the numbers, let's look at Celsius:


O yeah, everyone at the last of the month will ask themselves what to buy a bag of rice to have secured dinner for 4 days or 1000 satoshi, even counting who will allow you to trade around the ~1.

As for the earned part, you don't realize Bitcoin is money! You don't just earn Bitcoin, you work for money, simple as that, doing something for someone else that includes a reward of any kind is working, and if those people would have been able to do extra work they wouldn't be in that situation anymore. This is a complete misconception of earning bitcoin, when you create post things is not bitcoin that pays you, it's the owner of the blog who pays for your writing, when you design stuff and get paid in bitcoins it's for your design, it's not bitcoin that somehow pays you for all this, it's a normal business that does.

Seriously, are we so desperate to come out of this bear season that we are targeting the cents in the pockets of the poorest people in the world?
Just think for a moment, they have 100 needs and you can only think about how they could buy coins so that bitcoin reaches 100k.
How would you call it?

The normal way things should be done is all those shills that claim to have made millions from crypto should put aside 1% of their earnings to support the electricity and water infrastructure in Africa, but what we see is thousands of tokens claiming that only to fleece more investors and not giving out a penny.

Things that needs preference need to be given. Initial thing to be done is the infrastructure development for the isolated regions. Very few countries take initiative to make such changes which could boost the adoption and usage of bitcoin.

In recent days Europe have taken a measure to have solar energy system on every new building to overcome the oil demand. Maybe the same initiative could help the people without electricity get access to the electricity connection.

you will find that africa skipped passed/ignored copper wire/fibre internet telephony. and pushed straight to cellular towers. as its cheaper to reach great distances while offering good speed internet

alot of the 'unbanked' use cellular alot because they use phone credit as their currency, (mpesa & MoMo) so they are actually very comfortable with technology and digital currency. so switching over to cryptocurrency is not a huge leap. its actually much harder to try to convert them back to paper bank notes due to many many issues they have in their area in regards to bank notes (recessions hyper inflations, ATM/bank availability) they would much prefer cellular based currency use

Where there is no electricity, there's also probably no internet service providers and communication signals, so if we're talking of this isolated sector, let's probably forget about Bitcoin.

I don't think the people living in such condition prioritize Bitcoin more than the rest of their needs. And I assume that such a place is definitely poor. I know that there are off-grid villages and communities that are well-off but we're talking here of developing countries like mine. So it's no use for them to pursue Bitcoin as if it's the be-all and end-all of their existence.

Let's be practical. First things first.