Topic: If everyone in the world owned bitcoin each would have 0.003btc - page 2. (Read 688 times)
October 23, 2019, 04:35:59 AM
Is this really possible owned bitcoin by everyone? I am a little bit confused.
October 23, 2019, 04:09:46 AM
As of now if every person in the world they would have $11 worth of bitcoin right now.
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
Actually this is a problem itself. This shows how short we are on supply of Bitcoin and how much shorter we will run in future. I am saying this because this limited supply would make bitcoin much more valuable thereby increasing it's price many times just like gold but it will never look like a currency because there will be no economic control as the market will deflate more and more everyday. Price of your assets is likely to increase the next day so why would you like to buy anything with it now? https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
October 23, 2019, 03:48:04 AM
\How did you calculate $11? If everyone in the world owned bitcoin, wouldn't the price be higher?
He just converted to USD the 0.003 BTC to the estimated numbers of people around the worldIf all people around the world will own bitcoin, then its price will probably increase, depends on how early you buy or own your own bitcoin.
This is just an estimate to see if how much we can hold if everyone owns bitcoin.
October 23, 2019, 02:02:05 AM
That's the reason why Bitcoin's value is quite higher than what we expect because its supply is limited. I guess bitcoin wouldn't still be that enough if it will be distributed equally because there are still lots of people who aren't counted or listed in the world's population record but I guess that would be so impossible to happen. There will always be people who wouldn't have an interest in the blockchain technology.
Of course, in the future there will also be people who will not be interested in cryptocurrency and Bitcoin either. This is a normal situation. But such people will be no more than 30% of all the inhabitants of the planet. October 14, 2019, 03:24:54 PM
And right now, average savings per person in the world is around $25,000 and if we consider 10% of that can be made up of cryptocurrency in the future, then the calculation becomes 250,000 Satoshi = $2,500 or 100 Satoshi = $1. Or in that case, the value of one Bitcoin becomes equal to $1 million.
It's great and all to give calculations your own spin, but a lot of people hodl Bitcoin solely for the purpose of selling it at a much higher price---for some that's after a 100% increase while others wait for a 1000% increase.This aspect of Bitcoin won't appeal to people for ever because there is less to gain the higher the price is---do you think gold will do a 10x from where it is today? It's not going to happen no matter how bad the world economy is.
Currently there is a lot of potential upside so the risk to reward ratio favors the investors, but that will change the moment we are near the $100k mark. People will look for other investments or coins to capture more upside potential.
October 14, 2019, 01:43:20 PM
That's the reason why Bitcoin's value is quite higher than what we expect because its supply is limited. I guess bitcoin wouldn't still be that enough if it will be distributed equally because there are still lots of people who aren't counted or listed in the world's population record but I guess that would be so impossible to happen. There will always be people who wouldn't have an interest in the blockchain technology.
October 14, 2019, 12:56:29 PM
Unfortunately more owners of over 1000 btc is increasing and the accumulation had started since last year December, with over 3000 addresses of holder at around 0.01% of the total ( https://cointelegraph.com/news/growth-of-btc-millionaires-now-matches-bitcoins-early-years-new-data ). Accumulation will definitely make it scarce with consequence of pump into the bullrun and we already know who will benefit from it
October 14, 2019, 12:18:45 PM
The world would be a better place if everybody owned some bitcoin
How could you say so? Basically, we aren't just allowed to distribute bitcoins to every person living in the world. It will be better if the people who have the enthusiasm will going to accumulate bitcoin, since lack of knowledge about it will just lead to lack of responsibility in controlling it, managing and spending it with the right manner. Meaning to say that if it will going to happen, we need first to educate the world about what bitcoin is, so they will know how to properly utilize it in correct manner.
October 14, 2019, 12:12:24 PM
Rather than saying that everyone would be owning BTC0.003, it will be better to say 300,000 Satoshi instead. If we subtract 15% of the coins (a very conservative estimate), then that leaves around 250,000 Satoshi at the hands of every individual. And right now, average savings per person in the world is around $25,000 and if we consider 10% of that can be made up of cryptocurrency in the future, then the calculation becomes 250,000 Satoshi = $2,500 or 100 Satoshi = $1. Or in that case, the value of one Bitcoin becomes equal to $1 million.
October 14, 2019, 07:59:31 AM
As of now if every person in the world they would have $11 worth of bitcoin right now.
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
If all people in the world use bitcoin, of course the price will rise very high, the nominal amount of bitcoin owned by each person will be different, and maybe not 0.003 btc anymore, but only a few satoshi. Because the amount of bitcoin is very limited and there are still many individuals who have millions of bitcoins in their wallet, or bitcoins that are stuck in the nowhere wallet or lose the private key. Even if bitcoin spreads all over the world, of course there will be people who don't have it because of the limited amount of bitcoin. https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
October 14, 2019, 07:53:36 AM
If each person have 0.003 BTC, i think that is bad.
First... people will think this Bitcoin is free. I will sell it. So some people sell it. But the problem other people already have it, so why must buy it??
So there is need some creativity, what benefit about Bitcoin?
Maybe if some people trying to buy it then control it, there is also problem, they can manipulate the price.
So i think the best condition is like now, only some people have Bitcoin, so there is still have demand in the market.
Where new people coming to learn about crypto, there is a demand market.
First... people will think this Bitcoin is free. I will sell it. So some people sell it. But the problem other people already have it, so why must buy it??
So there is need some creativity, what benefit about Bitcoin?
Maybe if some people trying to buy it then control it, there is also problem, they can manipulate the price.
So i think the best condition is like now, only some people have Bitcoin, so there is still have demand in the market.
Where new people coming to learn about crypto, there is a demand market.
October 14, 2019, 07:09:39 AM
That’s a nice stat OP, luckily for us we’re all early adopters & most of us own a hell of a lot more than that 
October 14, 2019, 06:43:33 AM
If everyone in the world owned bitcoin each and each would have 0.003 btc then what do you think the value of that bitcoin. That 300k satoshi will not be worth 11$ anymore but it will already range from 300k$ to 3 million$. The demand for bitcoin would be very high and the price would reach the max value making bitcoin to have a stable value. It may be 1:1 ratio satoshi to us dollar or 1:10 satoshi to dollar exchange rates. If that will happen then I am one millionaire since I owned more than 300k satoshi.
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October 14, 2019, 01:47:07 AM
The OP used a general word which is "PERSON". A person may refer to any human (child,adult,elderly, PWD's etc.).
We don't expect the child and the children to own Bitcoin. We don't expect the people from the remote areas too to hold Bitcoin. In the future, I believe that it is not only Bitcoin that will become popular but there will be other altcoins too and there is a possibility that some people knows only some altcoins and not Bitcoin. Sounds weird but there is a chance that it can happen.
We don't expect the child and the children to own Bitcoin. We don't expect the people from the remote areas too to hold Bitcoin. In the future, I believe that it is not only Bitcoin that will become popular but there will be other altcoins too and there is a possibility that some people knows only some altcoins and not Bitcoin. Sounds weird but there is a chance that it can happen.
October 14, 2019, 01:40:06 AM
As of now if every person in the world they would have $11 worth of bitcoin right now.
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold
This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.
So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
Don't waste your time with such calculations,OP.
It's impossible to distribute bitcoin to all the people in the world.
October 14, 2019, 01:24:55 AM
That's why bitcoin cannot function alone to supply every people on earth as it is only limited. Though, the price of bitcoin could depend on the demand. Since it's limited, the price could just increase to supply everyone. But it'll take time before each and everyone of us could have bitcoin. The population of earth, the government, and there are a lot of factors need to be considered. So it's still somehow far from reality.
This is just a statistics there is no "IF" here because it will never happens, there is no shortage whatsoever, imagine how many babies, kids, grand father/mother have no access on bitcoins and not all are interested.
That's probably why some people talk about the price of bitcoin reaching 500.000$ or so. At that price every person in this world would own 1350$ but if we think about it not everyone uses the same currency so we split it to 10% of the whole population and now a single person has 13.500$. Bitcoin supply is very little in comparison with how many people exist of earth and that's why it's price will increase a lot in the future.
\How did you calculate $11? If everyone in the world owned bitcoin, wouldn't the price be higher?
He is using the current rate of bitcoin in which 0.003 is equals to 11 usd but if ever everyone of us will given a chance to hold this amount . i believe bitcoin price can increase .
Bitcoin continues to spin and move from ownership A to B and so on, which means that no one really keeps saving because of his madness towards holding.
That is if they will sell their holdings but the title says "if everyone owned 0.003btc " , that also means that they own it and they did not sell it .
Guys, he is saying it with an "IF".
But it's true that we're going to that point when each person owns a bitcoin 0.003 or higher, there would definitely a shortage that will strengthen the demand.
Its actualy possible to own a little bitcoin because of increasing demand, but if you are willing to hold your bitcoin for the next 10 years then you can be one of the investors who owns a lot. I expect bitcoin to be more valuable in time, so hold more. But it's true that we're going to that point when each person owns a bitcoin 0.003 or higher, there would definitely a shortage that will strengthen the demand.
Yes. I said "if" as it is all hypothetically speaking.
Most doesn't look to that point of view. Jump to: