Can everyone in the world have bitcoin. - page 2.

Texac

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Quote from: radjie on August 24, 2023, 12:58:54 PM

Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

Of course, this is unlikely to happen with the limited amount of supply that has been set. And another reason, Bitcoin is not a legal currency so most governments still have rules if Bitcoin cannot be used as a legal means of transaction.

Yes, currently there are still many barriers for people to access bitcoin. but in the future, when it is recognized by the government and they are common to the people, everyone can access bitcoin. although it has a rather limited supply compared to our world population, as many others have said, we don't necessarily buy 1 bitcoin, we have one unit of Satoshi. so in my opinion, anyone can own bitcoin, but the question is whether they want it or not because to get bitcoin, we need money.

Husseysamuel

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Yes, theoretically, everyone in the world can have Bitcoin. Bitcoin is a decentralized digital currency that operates on a global peer-to-peer network. As long as individuals have access to the internet and the necessary technology (like a computer or a smartphone), they can participate in the Bitcoin network by creating a wallet and acquiring Bitcoin.

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Quote from: uneng on August 23, 2023, 06:08:43 PM

Quote from: Reatim on August 23, 2023, 12:36:05 AM

21 million bitcoin might not be completely available as there are so many of those that had been lost in the air but the best thing here is that Bitcoin is divisible buy satoshi and that is the best part.

there are even saying that 1 satoshi will be 1 dollar in the future, imagine how much you can hold and gain having 0.001 bitcoin?
this must be the best investing tools people might have in their entire life.

With high demand, there will be always Bitcoin adopters willing to sell their holdings for profit. So it's the opportunity for those who don't have any coins to start accumulating their satoshis. They just have to be skilled at electronic devices and internet to set up wallets, create accounts at exchanges and to buy and sell Bitcoin.

For that reason, I don't think everyone can have Bitcoin, as there is still a high number of illiterate people in the world, especially regards the virtual world and the foreigner universal language, which is English.

Maybe in some decades this scenario will change, but by there that is what we know so far, consequently making it harder for BTC adoption to grow considerably among the masses.

But when bitcoin is accepted by governments and widely available, things will become easier. There will always be a solution in every country to make bitcoin accessible to everyone. Just like the internet or smartphones, it used to be a barrier for many people but over time everything became commonplace. You can see that anyone can use the phone even the most illiterate or the oldest. That shouldn't be a barrier but I think the high price will be a problem for many people.

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Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

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My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

From my thought own thoughts of things I don't think it's even possible for everyone to actually have bitcoin in their possession and it's not a matter of the limitation of 21million bitcoin available because I believe in bitcoin figure there are smaller units called the satoshi which if you actually calculate a person to a fraction of satoshi it will be more than enough to cover everyone there but my reason if saying everyone isn't going to have bitcoin is because we are humans and having bitcoin is a choice and the power to choose wrongly is always there as an option for many and many people will definitely go for that.

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Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

Of course, this is unlikely to happen with the limited amount of supply that has been set. And another reason, Bitcoin is not a legal currency so most governments still have rules if Bitcoin cannot be used as a legal means of transaction.

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Quote from: uneng on August 23, 2023, 06:08:43 PM

Quote from: Reatim on August 23, 2023, 12:36:05 AM

21 million bitcoin might not be completely available as there are so many of those that had been lost in the air but the best thing here is that Bitcoin is divisible buy satoshi and that is the best part.

there are even saying that 1 satoshi will be 1 dollar in the future, imagine how much you can hold and gain having 0.001 bitcoin?
this must be the best investing tools people might have in their entire life.

With high demand, there will be always Bitcoin adopters willing to sell their holdings for profit. So it's the opportunity for those who don't have any coins to start accumulating their satoshis. They just have to be skilled at electronic devices and internet to set up wallets, create accounts at exchanges and to buy and sell Bitcoin.

For that reason, I don't think everyone can have Bitcoin, as there is still a high number of illiterate people in the world, especially regards the virtual world and the foreigner universal language, which is English.

Maybe in some decades this scenario will change, but by there that is what we know so far, consequently making it harder for BTC adoption to grow considerably among the masses.

Im not surprised by this blinkered perspective. You're right: BTC adoption relies on literacy and knowledge. But guess what? Just as humanity evolved from nomads to agriculturalists, from kingdoms to nations, it will also evolve in terms of digital literacy. Its an inexorable march of progress!

The elderly? Yes, they might not get the nuance of blockchain now, but with platforms like the internet bridging knowledge gaps, it won't be long before even your 80-year-old grandma knows how to move sats around.

The constraints of language and literacy? Temporary blips on the grand timeline of humanity. English, the so-called "universal" language, is just a present-day tool. Platforms are already emerging to break these barriers.

Dont undermine humanity's adaptability. Bitcoin's adoption may seem constrained now, but to suggest its limited by today's literacy issues is a narrow view. History has shown us time and again: humanity adapts and evolves. So will its relationship with Bitcoin.

uneng

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Quote from: Reatim on August 23, 2023, 12:36:05 AM

21 million bitcoin might not be completely available as there are so many of those that had been lost in the air but the best thing here is that Bitcoin is divisible buy satoshi and that is the best part.

there are even saying that 1 satoshi will be 1 dollar in the future, imagine how much you can hold and gain having 0.001 bitcoin?
this must be the best investing tools people might have in their entire life.

With high demand, there will be always Bitcoin adopters willing to sell their holdings for profit. So it's the opportunity for those who don't have any coins to start accumulating their satoshis. They just have to be skilled at electronic devices and internet to set up wallets, create accounts at exchanges and to buy and sell Bitcoin.

For that reason, I don't think everyone can have Bitcoin, as there is still a high number of illiterate people in the world, especially regards the virtual world and the foreigner universal language, which is English.

Maybe in some decades this scenario will change, but by there that is what we know so far, consequently making it harder for BTC adoption to grow considerably among the masses.

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Quote from: Reatim on August 23, 2023, 12:36:05 AM

21 million bitcoin might not be completely available as there are so many of those that had been lost in the air but the best thing here is that Bitcoin is divisible buy satoshi and that is the best part.

there are even saying that 1 satoshi will be 1 dollar in the future, imagine how much you can hold and gain having 0.001 bitcoin?
this must be the best investing tools people might have in their entire life.

I don't know if a single satoshi can in the future have the ability to buy a dollar today but suppose this is true then today with just 100 dollars you would become a millionaire and if not you your children or grandchildren. It would certainly be the best investment that could be made.

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21 million bitcoin might not be completely available as there are so many of those that had been lost in the air but the best thing here is that Bitcoin is divisible buy satoshi and that is the best part.

there are even saying that 1 satoshi will be 1 dollar in the future, imagine how much you can hold and gain having 0.001 bitcoin?
this must be the best investing tools people might have in their entire life.

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The total number of bitcoins is 21 million, and according to Google, the world's population in 2021 will be 7.8 billion people. if we partition bitcoin, then each person can have approximately 0.002 BTC for each person. these are just raw calculations, without really accurate data. However, we know that it is possible for bitcoins to be shared for every person in the world. it's just, the real point is people are going to be trying to get as much bitcoin as they can get their hands on, and you can get bitcoin for a lot of money when everybody's using it.

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Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

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My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

even in the next 100 - 200 years, I don't think everyone in this world will have bitcoin, of course the reason is simple, not everyone is connected to the internet - not everyone likes bitcoin - not everyone understands bitcoin - not everyone can sell/buy bitcoins and many other reasons.

bitcoin is still very confusing for many people, especially with those who really love fiat money, they will definitely continue to say bitcoin is a scam blah blah blah. but there's no need to worry, even if bitcoin has groups that reject it, there will always be people who support and support bitcoin and that's what makes bitcoin stay strong.

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I think can everyone in the world have bitcoin. If Bitcoin quantity is limited. But if everyone understand about bitcoin and able to creat It's usability then bitcoin will be available everywhere. Recently we saw many Super shop, Bank, Hotel are accepting Bitcoin. So to fulfil our basic need we have to use Bitcoin today or tomorrow. As Bitcoin quantity is limited But i think everyone will have small amount of Bitcoin that are not so far. Everyone will use it for his need. So i think Can everyone in the world have bitcoin.

Wimex

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It would be quite an intriguing challenge if every person in the world had Bitcoin, I would say that as adoption grows and more people use it, there could be innovative ways to make bitcoin fractions accessible to everyone. But focusing today in terms of the distribution and adoption of Bitcoin in a global population of over 8 billion people, it will be quite likely to get each person to have a piece of Bitcoin, as some have commented each Bitcoin can be divided into smaller units called satoshis. One Bitcoin consists of 100 million satoshis… This divisibility allows that even if not everyone owns a full Bitcoin, they can still own and use fractions of it.. On the other hand being realistic with a current approach.. I think the widespread adoption of Bitcoin It can be a gradual process... as I said before, it may be that in the future the infrastructure and the tools for its use can be expanded and improved even more.

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Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

Let's not even go into the debate of whether Bitcoin's limited maximum supply will make it hard for everyone to possess it or not and plunge into coins with unlimited supply and how not everyone can still have them. When I read comments about people trying to act like it's an aberration if Bitcoin doesn't go round everyone. It's not. To state it clearly, I have yet to see anything that goes round everyone on earth except oxygen. I meant the natural oxygen. Bitcoin isn't oxygen. It's just another innovation of man. Even if Bitcoin were ♾️ in supply, not everyone will still have it.

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I think it's possible but BTC will be divided into small parts

Small parts that will not even be of value to most. Moreover, not everyone that will gain will even bother investing in it and trading it, hence it will be a waste as it will remain unaccessible to others who are actually interested in Bitcoin and the system. It is a possible thing to happen but it is not ideal, as Bitcoin is limited and the number of people is growing every day. The proportion will never be equal and not everyone will find value in it, causing the possible downfall of Bitcoin.

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Quote from: Ruttoshi on August 20, 2023, 07:58:58 AM

I know that the reason why we need to tell people about bitcoin is to spread the awareness of bitcoin,so that more people will adopt bitcoin so that it can be recognised and use by everyone just the way fiat is used. This will make bitcoin value to increase due to its volatile nature and the price is been controlled by demand and supply. Bitcoin is limited in number as we all know that we only have 21million bitcoin.

I have been wondering as a newbie with little knowledge on bitcoin that how is it possible for everyone in the world to own some fraction of bitcoin with the limited number just like the way everyone is using fiat. Is it that these 21million bitcoin will be enought to serve the world with a total population of 8.1 billion because I know that we have whales who will buy a huge amount of bitcoin and just store it in their wallet without using it,just the way the rich men and politicians keep so much funds in their account or at home without spending it. I also notice that one country can't print the currency that the whole world is using but various countries printed their own currency. Another thing that I noticed so many investors prefer to holdli their bitcoin which might make it not sufficient for everyone.

My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

There are more than 8 billion people in the world and will increase in the future but Bitcoin supply is limited which is 21 million if everyone has bitcoins everyone will share about 0.002625 bitcoins or more less. And if that happens, then the price of each bitcoin will more then millions of dollars. So we are now missing a huge opportunity to own a good amount of Bitcoins. At that time we only have regrets and nothing else to do. As regret today those who bought bitcoins for less than $100 but sold them back then

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Quote from: serjent05 on August 21, 2023, 10:54:28 AM

As @Jawhead999 stated, theoretically everyone can have BTC but in reality, it is impossible for everyone to have Bitcoin or a portion of it. There are limiters and restrictions that make 100% of the population acquire BTC. Just like in the earlier replies, the limitation to access the internet, the illiteracy of one person about Bitcoin, the restriction of a country, and banning Bitcoin, limited access to devices that can process Bitcoin transactions, the interest of the person, and more.

It is impossible for everyone to own 1 BTC for each but it is impossible for them to have a portion of it.

Locally Internet access can be unavailable but if a person has chances to move far from local area, getting access to Internet is possible. If you want, you can buy bitcoin from someone you trust even you don't have Internet access locally. Many methods to own bitcoin and the biggest barrier is enlighten yourself to believe in Bitcoin potentiality and start to accumulate it one way or another.

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Years ago, I read articles that in Africa continent, people have a service provider to make Bitcoin transactions without Internet from a third party SMS provider. Not sure it is still available now but relying on SMS and from a middle man is not good for security, privacy and accuracy of your transaction.

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Bitcoin usage is generally more popular in the internet world. It will take a long time to become like a fiat currency, before everyone knows and learns about bitcoin. Because the online network is chosen for trading in this currency cryptocurrencies are highly valued all over the world as they are exchanged online. Bitcoin is a variant of this cryptocurrency due to the variety of benefits and benefits that can be gained through bitcoin trading, there is less and less interest in it at present. It is up to the individual when it comes to investing in bitcoin, and since bitcoin has the advantages of regulatory oversight and traditional financial instruments it is important to know the positives and negatives.

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The answer to your question is yes, everyone in the world can own Bitcoin, even if the supply is limited. Because Bitcoin can be divided into small amounts and because of that the supply of Bitcoin which is only 21 million can be enough to be adopted by everyone. But for Bitcoin to reach that, of course, it takes a long time, moreover, not many countries in the world accept Bitcoin, so what needs to be done is how adoption can be increased, not making a problem about the supply.

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Quote from: BD Crypto on August 20, 2023, 09:19:11 AM

Practically it's impossible to own Bitcoin by everyone because there are many barriers. If someone own few Satoshi it's still like owning Bitcoin. I don't think topic is useful and a matter of discussion but if would be better to discuss about maximizing Bitcoin adoption.
Why everyone can't have Bitcoin?

Everyone in the world don't have internet connection and knowledge about internet and digital technologies.
Even some of country don't have electricity in all area and it's a must to use Bitcoin also internet connection.
Everyone will not be interested to use or to like Bitcoin and no one can force them.
Even some will not like to have Bitcoin because of its higher transection fees and some dislike it because of its volatile nature but it's a properties of Bitcoin.
It's still illigal in most of the countries and government discourage to use it. If they legalize it many people will be involved with it and mass adoption will increase but practically it's not possible to own it by everyone because it's just an imagination and illogical.

The like or dislike, government approvals, internet all these doesn't matter in this case because the question asked by the OP is hypothetical and merely expression of mathematical problem. I mean other factors that you listed do matter in "adoption" of Bitcoin but that is entirely different course of story. Also just to point it out, though every person in the world doesn't have access to the internet then also the internet connection has reached to almost every continent and country.

If you checkout the statics of 2022, then by means of % a map shows that almost every country has at least some parts where internet has reached. If Bitcoin ever got punched in the world with full legality then definitely others will onboard themselves for using the internet in no time.

Just like every person on boarded themselves to use the fiat even though many of them don't know what internet banking or mobile banking is, but they still did!

Reference to the internet stats:

Image credit: By Jeff Ogden (W163) - This SVG map includes elements that have been taken or adapted from this map:, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=19202338

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