21 millions bitcoiners - page 6. | Bitcointalksearch.org

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: NorrisK on July 30, 2015, 10:13:14 AM

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.

so bitcoin Mars and Litecoin Moon Wink

?

but in every case: we should switch to bits because people are confused, they tend to think that they can only buy 1 Bitcoin Roll Eyes

noideacoin

newbie

Activity: 52

Merit: 0

Quote from: gentlemand on July 30, 2015, 10:10:48 AM

There's a very small amount of people sitting on a great deal of coins. If there were that many people clamouring in quick succession it's quite possible sellers would just go on strike and the price would way overshoot a realistic value.

IMHO those very few people actually control the majority of bitcoins. This is a problem that not many people like to face or address. It is one of the things that keeps us from hitting mainstream.

Top Hoarder: "Hey world, accept this new form of currency. Sure I own and control 8% of all of it, but it is great. DECENTRALIZATION FTW."

World: "No thanks, that would give you singly way too much power. I think we will find a different way to revolutionize money."

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

Quote from: NorrisK on July 30, 2015, 10:13:14 AM

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.

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

Quote from: NorrisK on July 30, 2015, 10:13:14 AM

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.

The problem is, if Litecoin isn't so rock solid in value like Bitcoin, people will still want Bitcoin to store their assets.
N. of people trusting in the cryptocurrency is EVERYTHING that gives value to that cryptocurrency.
At least, at the moment, and for quite much time still.

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

Quote from: AtheistAKASaneBrain on July 30, 2015, 10:03:32 AM

Quote from: GODLIKE on July 30, 2015, 10:00:51 AM

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

OK but just give your quote! Wink

NorrisK

legendary

Activity: 1946

Merit: 1007

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.

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

Quote from: jjacob on July 30, 2015, 10:07:17 AM

Quote from: AtheistAKASaneBrain on July 30, 2015, 10:03:32 AM

Quote from: GODLIKE on July 30, 2015, 10:00:51 AM

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

Not to forget Satoshi's coins, which I think will never be used.
21 million users is not too outrageous. It is just 2% of facebook's active users.
I would say $10k will be breached when this happens.

I don't know, I think that when we will be heading towards 21 millions users, there will be so much rising in request already that the price will blow up in unpredictable manner.
It will probably also spike up into a bubble and then fall back down to the real value.
And I think Satoshis will much probably be used before 10 years from now.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: AtheistAKASaneBrain on July 30, 2015, 10:03:32 AM

Quote from: GODLIKE on July 30, 2015, 10:00:51 AM

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

too much i think, it does not scale well with the possibility of having 1B people using bitcoin, i mean if with only 21M people you have already one btc at 1M which mean 33k times higher, than at 1B you will have something which will suprass the whole world's GDP by an order of magnitude...

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

There's a very small amount of people sitting on a great deal of coins. If there were that many people clamouring in quick succession it's quite possible sellers would just go on strike and the price would way overshoot a realistic value.

jjacob

legendary

Activity: 1554

Merit: 1026

★Nitrogensports.eu★

Quote from: AtheistAKASaneBrain on July 30, 2015, 10:03:32 AM

Quote from: GODLIKE on July 30, 2015, 10:00:51 AM

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

Not to forget Satoshi's coins, which I think will never be used.
21 million users is not too outrageous. It is just 2% of facebook's active users.
I would say $10k will be breached when this happens.

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: GODLIKE on July 30, 2015, 10:00:51 AM

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

GODLIKE

hero member

Activity: 546

Merit: 500

LOL what you looking at?

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

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