English please, pab. If you want to speak another language, there are sections in this forum for other languages.
what english are you talking about? its written in english.. 
Topic: 21 millions bitcoiners - page 3. (Read 4362 times)
English please, pab. If you want to speak another language, there are sections in this forum for other languages.
not trolling,we can bet,but 21mln will be mined whan,in 2030,2040,and than what,who will keep blockchain
positive vs diffrent
positve outlook for price rise,only for price rise,After legislation,whatfinally will come in both Europe and USA,read Digital Chamber,chinise will add legislations also,china business will accept btc,alibaba etc,price jump,only price
diffrent negative,if to send size bigger than 1 mb transaction fees will increase,mor and more hard mining,lot of electricity,biggest mining companys are close to shut down,finally only Chinise will stay
most of btc is owned by limited number of people
Blockchain stress test failed,aftersixyearsi nlyread,it could be,could be,could be will be in future
now 40 % of merchant stop to accept btc
BTC did his work,on that newdevelopments willappear and finally btcwill be not cryptore servecurrency
and than who will mine,and keep btc alive
Why,go try to mine btc,than comeback and answer why
All people talk only about price,but price is related to value
positive vs diffrent
positve outlook for price rise,only for price rise,After legislation,whatfinally will come in both Europe and USA,read Digital Chamber,chinise will add legislations also,china business will accept btc,alibaba etc,price jump,only price
diffrent negative,if to send size bigger than 1 mb transaction fees will increase,mor and more hard mining,lot of electricity,biggest mining companys are close to shut down,finally only Chinise will stay
most of btc is owned by limited number of people
Blockchain stress test failed,aftersixyearsi nlyread,it could be,could be,could be will be in future
now 40 % of merchant stop to accept btc
BTC did his work,on that newdevelopments willappear and finally btcwill be not cryptore servecurrency
and than who will mine,and keep btc alive
Why,go try to mine btc,than comeback and answer why
All people talk only about price,but price is related to value
there is so much going on with bitcoin no one really can predict anything at this point .... but only time will tell. there are chances of success but there are chances that it can crash too but those chances are still small as bitcoin is being adopted by more n more people globally.
BTC will be 50 cents or 5 cents
when it will happen? And for what reason?Just speculation...
Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.
There's no "too expensive" term.
People will buy what they can.
Much, much probably, 21 millionth Bitcoin adopter won't be able to buy an entire Bitcoin anyway.
Yes. Perhaps "buying a bitcoin" will sound like "buying a Billion $" sounds to us now...
BTC will be 50 cents or 5 cents
when it will happen? And for what reason?He's just trolling I guess. Sure no one can predict the future and many possibilities are imaginable. But Bitcoin going down to almost 0 seems very unlikely.
BTC will be 50 cents or 5 cents
when it will happen? And for what reason?Maybe he's selling off his lover's coins who so brutally spurned him.
BTC will be 50 cents or 5 cents
when it will happen? And for what reason? BTC will be 50 cents or 5 cents
May I ask why? Just curious.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
The problem is that only a handfull of people have bitcoin.
I agree it is a problem from the aspect that there is an adoption chasm
where the innovators are buying bitcion but the massive wave of early adopters
hasn't started because they're not sufficiently incentivized to do so.
Still, I think adoption is creeping forward and will continue..
BTC will be 50 cents or 5 cents
They will make a new fiat or their own crypto because they cant afford bitcoin. Bitcoin are being hoarded by you and everybody else on this forum to get rich. As soon as there is a demand everyone will sell as high as possible and noone can buy.
You seem to not understand how markets and price discovery works.
When "no one can buy", the price ticks higher until there is an agreement
between buyers and sellers based on the volume needed to be traded.
From investopedia:
Quote
Suppose that a one-of-a-kind diamond is found in the remote countryside of Africa by a miner. An investor hears about the find, phones the miner and offers to buy the diamond for $1 million. The miner says she wants a day or two to think about it. In the interim, newspapers and other investors come forward and show their interest. With other investors apparently interested in the diamond, the miner holds out for $1.1 million and rejects the $1 million offer. Now suppose two more potential buyers make themselves known and submit bids for $1.2 million and $1.3 million dollars, respectively. The new asking price of that diamond is going to go up.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
The problem is that only a handfull of people have bitcoin. And of those handfull there are about 100 that have insane amounts. That would not sound good to normal people. And by normal i dont count those who see crypto as a salvation against the evil goverment but those who just want to live a normal life. I also think normal people would stick to the national currency and would not care if that was a crypto or fiat. Bitcoin is never going to be a national currency so that would be a party pooper.
Even if there is a demand for a replacement for fiat there is noone who would trade all they own for bitcoin when the price skyrocket. They would look for something widespread not something less used than Zynga chips. The rules for trade only works for trade. People dont want to trade currencies they want to buy bread and milk.
How many people hold how much of this huge part of Bitcoins?
I'm ignorant in this.
But I agree that if 50% of Bitcoins is held by 5 people, then those 5 will become the world's dominators, and people will surely move onto something else.
But this is not the discussion we were holding before. We were talking about "no more fiat to buy crypto".
Anyway, even in this case of unfair money distribution, people could just let Bitcoin fall and move onto another cryptocurrency.
Or a couple of those.
And let Bitcoin freefall unless the whales sell at fair price.
But whales could also never be traced back if they use some anonymizing service... we would never know.
They will make a new fiat or their own crypto because they cant afford bitcoin. Bitcoin are being hoarded by you and everybody else on this forum to get rich. As soon as there is a demand everyone will sell as high as possible and noone can buy.
You seem to not understand how markets and price discovery works.
When "no one can buy", the price ticks higher until there is an agreement
between buyers and sellers based on the volume needed to be traded.
It's incredible how some people simply can't catch the whole picture.
You tell him that when 1 BTC will value 100000 $, people will still buy a part of it, it's not mandatory to buy ONE Bitcoin.
He still say that people will raise the price so high that no one can buy, because he still thinks people will want to buy ONE Bitcoin.
He can't accept that people will exchange what they can for the equivalent in Bitcoins, like 500 mBTC or 3420 uBTC in example.
And that all of that will be totally proportional to what can be bought with either BTC or $.
He just can't catch it.
If in the future there will be so much request for Bitcoins that 1 BTC will equal to 1 trillion $, then well yes, I'll set the bar to 1 trillion $ for my BTC, and whoever will want to buy, he will buy a fraction of that BTC.
If at that time 1 satoshi or 1$ will buy you a cappuccino, and you will want 50000$ in Bitcoins, then you will get from me 0.00050000 Bitcoins.
I will still sell you bitcoins, because there will still be some shops accepting $.
Then there will be less, and you will have to pay even more $ to have some Bitcoins.
And then there will be less shops accepting $.
And less. And I will still raise the price of my Bitcoins.
And at one point, AS I WROTE, the less gifted part of world population will still be sitting on a pile of $ or € or £ etc. and the only use they will be able to do of those will be to warm up their houses by throwing them in the chimney.
They will make a new fiat or their own crypto because they cant afford bitcoin. Bitcoin are being hoarded by you and everybody else on this forum to get rich. As soon as there is a demand everyone will sell as high as possible and noone can buy.
You seem to not understand how markets and price discovery works.
When "no one can buy", the price ticks higher until there is an agreement
between buyers and sellers based on the volume needed to be traded.
From investopedia:
Quote
Suppose that a one-of-a-kind diamond is found in the remote countryside of Africa by a miner. An investor hears about the find, phones the miner and offers to buy the diamond for $1 million. The miner says she wants a day or two to think about it. In the interim, newspapers and other investors come forward and show their interest. With other investors apparently interested in the diamond, the miner holds out for $1.1 million and rejects the $1 million offer. Now suppose two more potential buyers make themselves known and submit bids for $1.2 million and $1.3 million dollars, respectively. The new asking price of that diamond is going to go up.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
The problem is that only a handfull of people have bitcoin. And of those handfull there are about 100 that have insane amounts. That would not sound good to normal people. And by normal i dont count those who see crypto as a salvation against the evil goverment but those who just want to live a normal life. I also think normal people would stick to the national currency and would not care if that was a crypto or fiat. Bitcoin is never going to be a national currency so that would be a party pooper.
Even if there is a demand for a replacement for fiat there is noone who would trade all they own for bitcoin when the price skyrocket. They would look for something widespread not something less used than Zynga chips. The rules for trade only works for trade. People dont want to trade currencies they want to buy bread and milk.
If you think the average bitcoiner will have 160000$ holdings you are deeply wrong.
As you would be wrong thinking the average bitcoiner now has 270$ holdings...
Wealth of bitcoiners doesn't reflect ANYTHING about their wealth.
So in this "thought experiment" you should only imagine HOW MUCH REQUEST FOR BITCOINS THERE WILL BE
1. I am not deeply wrong, that is the definition of average. total amount divided by the number of people. That's what average means. 21M * 160k / 21M = 160k. It's very simple math, if you can't understand that, there's no point in continuing this conversation.
2. I don't think the average bitcoiner holds $270 worth of bitcoins, because the number of bitcoiners are not exactly the same as the number of coins. Again, you should probably learn what "average" means. To clarify, I am not talking about the median or mode. I am talking about the average, or "mean".
3. Sure it does. If a person owns $10 worth of bitcoins, his net worth is AT LEAST $10. It can't be less. Unless he has liabilities of course, but that's a completely different topic.
4. If you're going to ignore the OP and completely change the question to your own, then, well, you're free to do that, but you should probably just start your own thread instead.
Man, think in fractions.
If one Bitcoin in future will value 1 million dollars, this means you will be able to buy with one Bitcoin, 1 million dollars of stuff.
That doesn't mean that a person that has 50000$ can't buy a fraction of Bitcoin: that fraction that evaluates to 50000$, and still buy stuff for 50000$ worth of Bitcoins.
Can you understand this mechanism?
It's only difficult to accept it because of the STRETCH that will be reached by Bitcoin value.
It has nothing to do with fractions or satoshis. If there are 21 million bitcoins, and there are 21 million bitcoin users, and each bitcoin is worth 160k, then by default of those parameters, the average holdings per bitcoin user is worth 160k USD. That is the definition of average.
And because the wealth of bitcoiners closely reflect the wealth of average people, the above scenario is VERY unlikely to happen. The key here is the limiter of 21 million bitcoin users. Without that assumption, then anything goes. But that assumption limits a lot of scenarios.
I am not regurgitating anything.
Bitcoin is not reflecting anything at the moment, apart the wish, from a large group of people, to invest in a new technology.
If there are 21 million bitcoiners, and each of them wants some bitcoin, he will buy what he can.
If you think the average bitcoiner will have 160000$ holdings you are deeply wrong.
As you would be wrong thinking the average bitcoiner now has 270$ holdings...
Wealth of bitcoiners doesn't reflect ANYTHING about their wealth.
I just posted the thread with a 21 millionth bitcoiner as compared to the cap of 21 million bitcoins (which is also wrong, because it's not exactly 21 millions).
So in this "thought experiment" you should only imagine HOW MUCH REQUEST FOR BITCOINS THERE WILL BE, when bitcoiners will hit n. 21 millions.
If growth would be linear, and we are now 1.5 millions then when we'll hit 21 millions the count would be 21/1.5*270 (actual price) = 3780$ only.
But there are more factors to put in, like the daily traffic in example, and I don't think the value increase in a linear way, I also think the intrinsic value of Bitcoin is underestimated at the moment.
But all of this goes into the equation, you can say whatever value you want a Bitcoin will have, when the 21 millionth bitcoin user will want to buy some bitcoin.
He will buy what he can or what he wants.
Doesn't have anything to do with average holdings.
Nobody has transformed his entire wealth in Bitcoins. Nobody.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
They will make a new fiat or their own crypto because they cant afford bitcoin. Bitcoin are being hoarded by you and everybody else on this forum to get rich. As soon as there is a demand everyone will sell as high as possible and noone can buy.
You seem to not understand how markets and price discovery works.
When "no one can buy", the price ticks higher until there is an agreement
between buyers and sellers based on the volume needed to be traded.
From investopedia:
Quote
Suppose that a one-of-a-kind diamond is found in the remote countryside of Africa by a miner. An investor hears about the find, phones the miner and offers to buy the diamond for $1 million. The miner says she wants a day or two to think about it. In the interim, newspapers and other investors come forward and show their interest. With other investors apparently interested in the diamond, the miner holds out for $1.1 million and rejects the $1 million offer. Now suppose two more potential buyers make themselves known and submit bids for $1.2 million and $1.3 million dollars, respectively. The new asking price of that diamond is going to go up.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
The following day, a miner in Asia uncovers 10 more diamonds exactly like the one found by the miner in Africa. As a result, both the price and demand for the African diamond will drop precipitously because of the sudden abundance of the once-rare diamond. This example - and the concept of supply and demand - can be applied to stocks as well.
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