Topic: How to distribute 21 million Bitcoins for a population of 7.8 billion? - page 2. (Read 448 times)

World population is slowly growing each year so you can't calculate exact amount and it will probably be much higher in year 2140 unless some catastrophe or (un)planned event happens.
Millions of bitcoins are now lost so even less could be distributed, but this will probably be done with other Bitcoin units like mBTC or Sats that can be distributed very easy, especially using Lightning Network or something better.

1 Bitcoin is equal 100 bitcent
1 Bitcoin is equal 1000 mBTC
1 Bitcoin is equal 100,000,000 Sats

Only who knows about Bitcoin and it's significance , he can get Bitcoin and gets profits in the future. But others rest people who don't know anything about Bitcoin, they cannot get Bitcoin anymore.

Maybe what Op meant was just an example of what if 21 million Bitcoins were distributed to billions of people and got their share. Such mass distribution would probably use the Lightning Network for faster transactions.

The circulating supply of successfully mined bitcoins is currently 18,750,268 BTC and it continues. To get bitcoin today is not easy and is no longer free. Bitcoins can be mined using Mining Rig Tools that are specifically for mining bitcoins and can also be purchased on exchanges that provide Bitcoin and many other altcoins. The choice is not only on bitcoin and other altcoins such as stablecoins, other altcoins such as ETH and others still dominate.

The question itself is wrong. Bitcoin is almost infinitely divisible, unlike fiat currencies such as the US Dollar. For example each USD is divided in to 100 cents. However, each Bitcoin is divided in to 100 million Satoshis. So rather than saying that we have 21 million coins for 8 billion people, we can also claim that there are 2.1 quadrillion Satoshis, available for 7.8 billion individuals. And that comes to around 262,500 Satoshis per capita. That sounds a lot better, right? In other words, around 1 million Satoshis per family.

Nothing will change as per usage of bitcoin because it's being used for almost everything today so that would be the same if bitcoin will still exist by that time. There are counterparts that we've seen like Ethereum and if you're worried how it will be distributed, crypto tech companies like exchanges that are existing right now, they would still exist if the business keeps on growing and it's still profitable on their end. But why think of that a lot, we're not sure if we're still alive by that time.  

Your topic was impressive. It had good analysis knowledge. But the mining is happening every day, so it mean the bitcoin capacity is keep increasing everyday. When the traders is keep on increasing, we can able to see some rise bitcoin also. It's reason for not huge rise in the price of bitcoin.

Not everyone would provably love the idea of having a piece of bitcoin since some of them doesn't really understand on whats going on in crypto ecosystem since mostly the one they see first is the bad flaws of bitcoins so you shouldn't be worried about that . Always remember that if there are people who hold bitcoins there are more people who's up to buy some supplies for long term holdings.

not everyone will own Bitcoin even hundreds of years later...

according to WHO data, the world's population will increase many times from now, which means that dividing Bitcoins among the world's citizens must use the smallest conversion that is satoshi, but not all will get Bitcoin for free as happened to the citizens of El Salvador. in the future people will buy Bitcoin at a high cost because of the high demand in the market.

The divisibility or the denomination of Bitcoin solves the problem; value can be proportional to the fraction of Bitcoins that you own.

The value of Bitcoins divided by the population will definitely be much lower, due to the burned coins, either intentionally or unintentionally. Bitcoin is designed with a decreasing inflationary trend, but by the definition of purchasing power, then we've had quite a bit of inflation in the recent years. Bitcoin isn't affected by possible inflationary problems; because it is infinitely divisible. However, Bitcoin is an entirely new concept, or an experiment of a currency where there are no external mechanisms to regulate the economy. Whether this is feasible in the long term, remains to be seen.

Some currencies like Monero uses a tail emission system, with a constant inflation. This means the block rewards are constant after some point in time; perhaps more than sufficient to complement the lost coins and still provide incentives for the miner. As I've said, the stability of the network after the 2140 deadline (probably far earlier) remains to be seen. Economics theory holds only with ceteris paribus, but obviously that is never the case.

For all of you that thought Satoshi actually analysed the economic impact of that number:

I do not think all people in this world will have bitcoin because many people will not want to use bitcoin. The amount of bitcoin that people have will be different because we know some people already joined in bitcoin from a long time ago and they still have a large amount of bitcoin. But as bitcoin price still not increase too high, it will give more chances to people to buy bitcoin as many as they can because someday, when bitcoin price increase so high, they will not have a chance to buy bitcoin in a big amount.

Bitcoin is not the birth right of every citizen. So there is no question of distributing all mined bitcoin amongst the world population. When a centralized fiat currency cannot be distributed evenly, how on earth a decentralized currency like bitcoin will be distributed? So thinking about it is only waste of time.

Other digital currencies will obviously be there! Even today we are having thousands of different cryptos. People are using them as well. But if you are thinkin about a fair distribution, that's not going to be possible!

The conclusion is that 1 BTC is an enormous amount if we assume that billions of people will adopt this system, whether they are rich or poor.

Is there really any possible way for someone to even predict what will happen in that year? But, to correct you, if Bitcoin is still a thing in 2140, mining won't stop; the currency will officially be deflationary and miners will be satisfied by the mining fees. Without mining, there's no Bitcoin.

You need to think first about how to mine Bitcoin? Of course to mine Bitcoin is using mining rigs and electricity. Where does the Bitcoin you mine will be stored? It will stored in your own wallet. So it's mean if you mine Bitcoin you will get the Bitcoin itself, it doesn't mean you mine Bitcoin and your Bitcoin will be automatically stored in all people wallets.

If Bitcoin is distribute well to all people in this world, I doubt Bitcoin will have a value like now.

Bitcoin can be used for normal transaction if the volatility is less than right now and after everyone are start using lightning network to reduce fees.

Those digital currencies you said is altcoins and IMO there's no altcoins will assist Bitcoin, most of them created to beat Bitcoin itself.

Bitcoin or any of the Cryptocurrencies doesn't need any form of distribution. Bitcoin is going to be something like stocks that people invest into and that is even if it eventually becomes generally accepted. Anyone who pleases will go and invest into it.

Since not everyone is interested in stocks or shares investment, not everyone will also invest in the Bitcoin.

If you don't do anything and sit ideal you will also not get fiat currency in form of salary,profits,gifts or anything because you have to work for it and earn it any way possible to you and same is the case with Bitcoin.It was made with aim to provide an alternate to the fiat currency in a decentalized way not to give everyone on the planet a chunk of 21 million btc so you could also have a Sathoshi with you if not whole Bitcoin.The coins will be in circulation and using LN you can easily make transaction buying a cup of coffee at your local shop which is main aim of Bitcoin for Sathoshi and all of us.When it was made in 2009 then the world population was around 8 billion already and he knew it so it was secondary thing and first was to provide you freedom of funds.You are still early to adoption and can have a part of it.You cannot get equal part in every technical assest so the main point is how early you have that vision to acquire it.

If you are doing badly with numbers, maybe you should research a bit before writing posts, because your 17 million is actually 18 750 125 at the moment - so while that may not be that important in the context of your question, a little more precision wouldn’t hurt anyone.

As some others have already written, Bitcoin is not the magic money you get just like that and there is no law that says everyone must own it - and even that we want to give everyone the smallest amount of 1 satoshi, how to do that since some 40% of people do not have internet access? I remembered as I wrote this that we could send them a paper wallet - but what would they do with it, maybe use it to set the fire?

About 21 million (17 million in the market) Bitcoin total supplies but  a few amount of people knowing about cryptocurrencies, who's the richest person in the world, he can buy Bitcoin.

People get bitcoin when they buy some, mine some, or receive them for payments. Bitcoin is obviously not something that's just airdropped to every single person's wallets because that's obviously heavily flawed and there's literally no way to do that in a decentralized and trustless manner.

It won't go nowhere. It will become more mainstream as a currency, though. However, in 2140, Bitcoin mining won't end. Even after the last Satoshi is mined, Bitcoin mining operations will still continue. The miners will continue to secure the network as well as earn from it, only that their earnings will be coming from transaction fees alone and not anymore from block rewards.

As to its distribution, I guess it won't change much. It's just that by that time more and more people are going to acquire Bitcoin by working for it rather than buying or converting from fiat.

Bitcoin is not created in order to be distributed to everyone. You have to mine it or buy it or work to earn it.

Bitcoin is created with satoshi vision to M1.
Jameson Lopp highlights Bitcoin's market cap in comparison to national M1 money supplies
Why is Bitcoin’s supply limit set to 21 million?

Population is unpredictable especially for more than one century.

They will use it but there will be many more options with altcoins and fiats for them to choose. It is unrealistic to think that 1 century later, the world will have Bitcoin for transactions only.