Topic: How to distribute 21 million Bitcoins for a population of 7.8 billion? (Read 448 times)

Getting a bitcoin is a reward for hours of hard work of solving algorithms with expensive hardware and not many can achieve that feat. Many miners have shut their business because it costs a lot. Moreover the limited supply is what drives its price up.

In fact, I very much hope that people all over the world will use Bitcoin for transactions. Some countries may not even have the Internet. Human nature and social ideology determine that the world may not move towards the same, it is just a good wish. Let time witness history

I doubt if the world population will be interested in bitcoin as they still use traditional ways to invest or make money, especially for a country that does not have a better internet infrastructure. But if that is about the future, we do not know because maybe they can have bitcoin because of legacy from their parents, grandma or grandpa. But one thing for sure, people who have a lot of bitcoin will give some of their bitcoin to their children and grandchildren. If so, they can do many things with their bitcoin but I am not sure if they will use bitcoin for normal transaction payments as they will have many options that they can use to pay.

The first  section is Staking
He can double interest, the user can get BTC and AOM at the same time.
The second  section is the guarantor node
Guarantor node, with the corresponding mortgage assets custody BTC, can get the custody fee, as well as the mortgage assets income.
The third section is Lending
Users can choose deposit business and loan business, such as deposit one kind of high quality asset can earn interest, need other assets can directly lend other assets.

The distribution won't still end though because babies are born everyday and they will be counted as part of the population meaning that they will also be part of the distribution which as I have said in my last post, that the distribution will be endless unless some extinction event or catastrophe happens and wipes out half of the population.

We're working on theory here so I would probably go over the top on how I will be able to distribute all the bitcoins to everyone. First I would probably give them a paper wallet or a tattoo that they can use to access their bitcoin, the next thing would be to send bulks of bitcoin per country and then have each government distribute it to their citizens in a margin error that's equal to about 5 people per bitcoin.

I am not too worried about the 17 to 18 million bitcoins that are left, because each Bitcoin has divisibility to 100 000 000 Satoshi .. which is more than enough for the 8 or 9 Billion people that there are on this earth.

We also have to remember that not every person on this planet will use Bitcoin or own it, because reserve currencies will still exist and there will be "Govcoins" that will be launched by governments and also loads of Private coins. (Alt coins)

Let's not create problems that are not really problems. 

We can't be sure about the global population in 2140.It might be 14 billion,but it might go below 7 billion.
Elon Musk was talking about a possible decrease of the global population in the next few decades.
Other digital currencies won't assist Bitcoin.They will compete against Bitcoin for a bigger market share.
Bitcoin was not meant to be equally distributed among all the people in the world.Why do crypto newbies keep asking that question? 

One thing is that only certain percentage of world population uses bitcoin at present time and even in future it will increase but might not even exceed 30-40% of world population. So that number drastically falls from 7.8 billion. Also we do have satoshi and it is upto eight fractions available so in quantity it becomes more, as well it is demand and supply game. There will be always a seller available who want to sell only thing if demand is much higher than selling then price will keep rising.

It's impossible in practice but in theory, the distribution is going to continue forever because a child is born everyday meaning that if we take the distribution of bitcoin for each person literally, it won't end and the people who will receive their bitcoin will have their bitcoin received reduced each second because the population is continuously increasing. Plus there's lost coins and the 1 million that Satoshi owns which makes the amount given to a person much smaller.

That's why Bitcoin composed per Satoshi , meaning by the time comes that Adoption totally comes and the world is like El Salvador that accepts bitcoin as their Legal tender for sure even if you have 1000 Satoshi it is worth having.

and also the value will increase that the accumulation per person is worth a hold.

Wouldn't this infinite splitting possibility become similar to printing money like we see in fiat system? To create new decimal houses in bitcoin looks dangerous in my opinion, because it may devaluate the currency since its supply won't be limited or rare anymore. I don't know if it would work on practice. It really looks a new way to print money, but instead of growing it to the left (ascending order), it will grow to the right (descending order), although the result in the end might be the same...

After Bitcoin is mined，Bitcoin miners will still be able to participate in the process of discovering blocks, but will not receive block rewards. But they can also get all the fees spent on transactions including in each newly discovered block.
For Bitcoin holders, the severability of Bitcoin will allow transactions to proceed normally, but at that time 1BTC will be a huge value of wealth, and the transaction speed will become very fast because of the Lightning Network. Don't need us to worry about it.
For whales and investment institutions, Bitcoin will be a good safe-haven asset, but Bitcoin is no longer their harvesting tool. Because at that time Bitcoin did not have the high volatility it is now. People's speculative psychology tends to be balanced and will not become crazy because of celebrity effects.
For countries, some countries may still be prohibited from using it due to different policies, or many countries have already used Bitcoin as legal currency, perhaps like gold, which is stored in a certain global alliance in the future. , As the anchor of the legal currency. Perhaps at that time, the world is unified, people can also have basic living security without labor. There is only one currency in the world-Bitcoin, because machine civilization or robots will do more for humans.

Not everyone has to won and use bitcoin just like not all people in the world use USD. I've never had USD in my hand because there was no need to. It's not an accepted currency in my country.

If you don't need a decentralized payment system and are fine with having your money in a centralized bank it's all good. There's going to be many similar people who will never use bitcoin.

Also there's this thing that at this point there's maybe 15 million bitcoins in circulation not counting lost coins and there's much more than 15 million users so the distribution has already happened. You don't need to waste time thinking about how it would happen because it's happening every day without our help.

Why would we need other currencies to assist Bitcoin? There's enough units to cover all our needs, Lightning Network allows splitting satoshis even further, and if needed, a hard fork could be introduced to allot further subdivisions of satoshis on chain.

When someone has to distribute something, it always means centralization. Bitcoin gets distributed naturally by the free market. Almost everyone has an equal chance to get their hands on Bitcoin, because everyone can register on exchange and buy some coins, except for people from sanctioned countries. But even they can do p2p trading.

A significant factor that has not been discussed in this thread is LOST/FROZEN coins.  While we can't know for sure it is almost certain 10-15% of coins are forever frozen in the blockchain.  This is pretty well established as "main line" thinking.  15% of 21 million coins (when we get there) would mean  3,150,000 coins are basically lost forever.  Its math - those can never be used.  It wouldn't surprise me if the number was closer to 20%, but its a feeling I have with no way to support it.  As a percentage of global population, I think a full BTC hodler is going to be somewhat rare.

I highly doubt that the mining will stay at the same rate as it is right now, probably a couple of years from now they would make it a lot harder to mine bitcoin, therefore the price would get high, and assuming that we reach the point where no bitcoin can be mined, the more people hold the higher the price it gets, and that means that the price is going to be less volatile and maybe we will see it becoming a days to day payment system,  that we can actually use for small transactions.

You make it sound like everyone needs to have bitcoin. This is not how it works. It's like saying how will you distribute all fiat money among 7.8 billion people. You don't. If you are wondering how will everyone use bitcoin when it becomes mainstream because of limited number of coins, then probably we will find out a way. Maybe a unit smaller than satoshi?

To be honest, a problem is already solved by a decimal. Since there is 8 decimal and if you know how decimals work then should lock the topic. Most probably sat (satoshi) will be the most popular word after 2140 if Bitcoin exists till then. On the other hand, people always compare Bitcoin with Gold. So tell me how many percent of people in the world bought Gold? Do you think all people could buy? I don't think so. Simply all people don't need to buy or they can't afford to buy. This will happen with Bitcoin too. Now lock your thread from the lower left to prevent spam.

Its not something that can just be distributed.Of course you would really be needing to invest or do lots of ways for you to accumulate and if you done nothing then dont expect for an individual to get bitcoin as simple as that.

This is just like on accumulating or getting some money out of our day job and same principle here on bitcoin.If you are really that concern about the supply and on what would happen in 2140
then this is something that can be answered by anyone.

We can make presumptions but we dont actually know on what would happen ahead.