If everyone in the world owned bitcoin each would have 0.003btc

hatshepsut93

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

"Shortage" doesn't make any sense here, Bitcoin is money, it's supposed to be limited. When you look at coin value it looks like it's small, but if you convert it to sats, it's 300 000 sat per person. As for the USD value of 0.003 BTC, it just means that Bitcoin is not popular enough to replace fiat currencies. But if it starts happening, the price will grow enough to cover all the currency needs.

So, we have enough units to replace fiat if we use sats, and even if it's not the case, it's possible to make a fork to even smaller units.

airdnasxela

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But we cannot completely say the accuracy of the whole population. Everyday there are people being born and same goes for dying...
I don't think it's still possible that each and everyone on earth will have and own bitcoin. Not all governments will allow bitcoin, and not everyone are capable of having bitcoin.
But to give my opinion, it's all about the law of supply and demand. Limited supply, unlimited wants, the value will just depend on that but really... I don't believe that everyone will be able to hold bitcoin.

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Quote from: AGroose on November 06, 2019, 12:58:54 AM

Do not forget that about 7-8 million bitcoins are lost forever. In addition, miners and whales will never allow this to be done. Even if bitcoin replaces fiat money, there will also be a division between rich and poor.

We never know the exact data of those lost Bitcoin, some lost their private keys, some send to the wrong address, others die without transferring their coins to others, but we are still ok even if the whole coins are not mined, it adds to the volatility of the market, and it's impossible for each one of us in this world to own 0.003 because there will be those who can afford and those who are not and those who can understand and those who don't want to understand.

peter0425

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Quote from: mascherono on October 23, 2019, 04:35:59 AM

Is this really possible owned bitcoin by everyone? I am a little bit confused.

Sure you are confused because you don't even bother to read and understand the topic instead you only read the title and posts lol

OP is asking if this is possible and you answer with same question,.

For me this is not possible because we only have few.millions in circulation because too many bitcoin is already missing and the amount available are fewer

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Quote from: lighpulsar07 on November 06, 2019, 12:53:37 AM

Well if that 0.003 btc in today's rate we would have 28 dollars now but some of us are owning more than 1 btc so, it is impossible for people to 0.003 btc and if you are the one of the early adopters and you are mining way back then, you could start a new business with that amount of money imagine you are mined just 1 block of bitcoin the block reward way back is 50 btc and hold it up this day you could have 450,000 dollars richer.

Doing a calculation like this, adds no value to the bigger picture. Bitcoin is just another form of money and we know that money are not equally distributed to all individuals all over the world. So, looking at this from the situation that are currently happening with Fiat currencies, you would quickly see the same pattern forming in Bitcoin that we have with Fiat currencies.

A lot of people will own a lot of bitcoins and some will have a lot less and then you will have the majority owning nothing or only a few Satoshis. Money or any other valuable resource are never equally distributed to everyone in this world. Tongue

Wysi

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Quote from: lighpulsar07 on November 06, 2019, 12:53:37 AM

Well if that 0.003 btc in today's rate we would have 28 dollars now but some of us are owning more than 1 btc so, it is impossible for people to 0.003 btc and if you are the one of the early adopters and you are mining way back then, you could start a new business with that amount of money imagine you are mined just 1 block of bitcoin the block reward way back is 50 btc and hold it up this day you could have 450,000 dollars richer.

Yes since there are users holding huge chunk of bitcoin and moreover our population rate keeps increasing and we have more bitcoin adopters so it's practically impossible for all to have bitcoin and he have a small community who uses bitcoin compared to world population and yes early adopters are always in profit if they have not exhausted bitcoin to buy pizza or exchanged it for lesser price.

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Do not forget that about 7-8 million bitcoins are lost forever. In addition, miners and whales will never allow this to be done. Even if bitcoin replaces fiat money, there will also be a division between rich and poor.

lighpulsar07

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Well if that 0.003 btc in today's rate we would have 28 dollars now but some of us are owning more than 1 btc so, it is impossible for people to 0.003 btc and if you are the one of the early adopters and you are mining way back then, you could start a new business with that amount of money imagine you are mined just 1 block of bitcoin the block reward way back is 50 btc and hold it up this day you could have 450,000 dollars richer.

maydna

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Quote from: mascherono on October 23, 2019, 04:35:59 AM

Is this really possible owned bitcoin by everyone? I am a little bit confused.

I think that it could be possible for everyone to owned bitcoin as long as all people installed the bitcoin wallet and keep it for a long time.

Even though that is possible, I am not sure if all people in out there will want to install the wallet because they will think that it is weird to have something that they don't know. Perhaps, we still need to introduce bitcoin to them, so they want to install by themselves, and then they can send 0.003 btc to their wallet.

So when bitcoin price can hit $100k in the future, all people will have at least $300 in their wallet. Wow, that will make people want to do that because who doesn't want to get $300 from investing $11.

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if that really happens then it is certain that the price of bitcoin can be very expensive because you have to know that people in the world total more than 1 billion people while the supply of bitcoin is only 21 million pieces of bitcoin so that it can have a good influence on prices bitcoin which can be very expensive because many people buy bitcoin even though it is only worth 0.003 Bitcoin for every person who buys bitcoin.

bering

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Nice calculate that total amount of population people in the world divided total supply of bitcoin so it's probably will appears those number and i assume if people in the world have those bitcoin which mean it will be including childrens and babies in the world but bitcoin distributed among the world a bit hard to do so because too many issue caused why bitcoin will not belongs to the people in the world

Sadlife

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

with lots of bitcoin gone in the air?this means the allocated amount will be lessen ir even become half?
i believe too many bitcoin was already gone as the private keys forgotten or the owner died without others knowing the keys and the 1 million bitcoin under Satoshi's account.
the Bitcoin is not enough for all the people around the world if the mas adaptations happen and this is why there are altcoins around to cover the shortage of bitcoins and that indeed will happen in future

Shasha80

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If later bitcoin is truly accepted globally, and everyone has bitcoin. It is impossible for the amount to be equal to 0.003 BTC.
Certainly like the present conditions, each person has a different amount of bitcoin they have. But fortunately for all of us
who have from now on. Therefore, before that event actually happened, collect as much Bitcoin as possible now. Especially
if it is truly accepted globally and almost everyone has bitcoin, the price will be very expensive. Finally opportunities are open
to all of us in this forum to be rich, because I'm sure the members of this forum have a lot of bitcoin that they have above 0.003 BTC.

angrybirdy

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Quote from: kawetsriyanto on November 05, 2019, 06:21:36 PM

Quote from: BestBitcoinBuyers on March 11, 2019, 05:50:22 PM

The world would be a better place if everybody owned some bitcoin

I am not really sure with your opinion. It should be good but in fact it is still hard to happen.

Bitcoin requires technology and support from the government. At least, it needs the internet to be used and people who own the Bitcoin need to understand how to use it. On the other hand, it won't be able to use if your government bans it. These problems still become obstacles to spread out Bitcoin to all people in the world. So, how everybody will own some Bitcoin?

Look at this global Internet usage around the world : https://en.wikipedia.org/wiki/Global_Internet_usage

For now, it is still impossible, but there is a bit of chance for it to happen in the future.
Legalization is still no yet to happen in the whole world, internet? deep understanding? it is possible by using the internet, information about bitcoin or any other altcoin is already on the internet. Anyone can learn any time they want.
These problems are nothing if everyone is willing.

kawetsriyanto

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Quote from: BestBitcoinBuyers on March 11, 2019, 05:50:22 PM

The world would be a better place if everybody owned some bitcoin

I am not really sure with your opinion. It should be good but in fact it is still hard to happen.

Bitcoin requires technology and support from the government. At least, it needs the internet to be used and people who own the Bitcoin need to understand how to use it. On the other hand, it won't be able to use if your government bans it. These problems still become obstacles to spread out Bitcoin to all people in the world. So, how everybody will own some Bitcoin?

Look at this global Internet usage around the world : https://en.wikipedia.org/wiki/Global_Internet_usage

Nhor1011

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

For me and to my understanding with bitcoin since it was created with limited supply still there is no shortage of bitcoin instead the value of it will continue to increase. Lucky are those who owned bitcoin during the time it was so cheap.

FlightyPouch

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I think if that is the case, bitcoin is always used and since a lot of them had it, then there is a big chance that the price of bitcoin is so expensive, it makes the price nowadays so cheap. And that is the reason why I think we don't need to look at the denomination if that even happens, we should look at the value of it and I think that is so expensive since all of the people would be using it.

Drai

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Even as time progresses, more and more bitcoins would be lost, some people would die without passing the keys to their family members, some people would forget to backup their wallet or lost forget where they saved it and the supply would continue decreasing even when the coin is being mined and the supply us supposed to be increasing daily, this is one reason why I believe Bitcoin's present price is underated, imagine a currency where everyone in the world would hold just $30 worth of it at present price if it is distributed to everyone.

marcbitcoins

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Quote from: DeathAngel on 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

I agree, Just imagine if some people will not buying Bitcoin and some trusted Altcoins at their cheapest price today that after 2 years, the people who didn't have the balls to buy will tell us how we "just got lucky". Cheesy

blckhawk

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

That's why it's deflationary, and I'm seeing bitcoin prices would increase significantly once the supply is maximized. I think the time it would not be enough for all is once the digital means to payment is worldwide accepted in all classes of society. But we're still far from that, and by that time, another cryptocurrency might already be made to occupy all the demand. But as of now, few selected parts of the society are only capable of transacting with bitcoin, so I don't think it would not be enough.

mascherono

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Is this really possible owned bitcoin by everyone? I am a little bit confused.

teosanru

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

Zeke_23

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Quote from: IdiotCoder on March 12, 2019, 03:18:52 PM

\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 world
If 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.

Edraket31

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Quote from: Genemind on 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.

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.

And imagine if everyone already knows Bitcoin and has Bitcoin, it's demand will likely become just like the needs of foods and the price will be like a shooting star, so better to have at least have that amount before that time will come so that we can have something for our future that we will be thankful of.

BitHodler

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Quote from: bryant.coleman on October 14, 2019, 12:12:24 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.

Genemind

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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.

royalfestus

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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

Wintersoldier

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Quote from: BestBitcoinBuyers on March 11, 2019, 05:50:22 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.

bryant.coleman

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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.

iMark

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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.

febriyana

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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.

DeathAngel

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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

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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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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.

soadrlz

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

Don't waste your time with such calculations,OP.
It's impossible to distribute bitcoin to all the people in the world.

Eclipse26

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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.

LbtalkL

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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.

MakeMoneyBtc

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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.

imstillthebest

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Quote from: IdiotCoder on March 12, 2019, 03:18:52 PM

\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 .

Quote from: hahay on March 12, 2019, 03:02:05 PM

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 .

boyptc

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Quote from: Dreamchaser21 on March 12, 2019, 07:05:05 AM

Quote from: boyptc on March 11, 2019, 05:58:49 PM

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.

It will valuable soon somewhere in the future and there's no doubt about that.

Quote from: rdbase on March 11, 2019, 10:12:21 PM

Yes. I said "if" as it is all hypothetically speaking.

Most doesn't look to that point of view.

playboy654

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When comparing this that would be a huge differences are there when using the Bitcoin why the people it would be very small amount so I think it would not been possible at any time to reach each and every single people in this world and if it possible that will be a value was very low to with kind at that time.

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\How did you calculate $11? If everyone in the world owned bitcoin, wouldn't the price be higher?

hahay

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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. Bitcoin continues to develop into a payment tool and of course it will continue to circulate and of course there will be no shortage of bitcoin and I don't think this is a problem and bitcoin will be fine without having to worry about fear of lack of bitcoin even though the supply of bitcoin is indeed limited

Bonsaiav

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Even though I don't know exactly, when is it time ?, but the amount of bitcoin supply's sure to shrink along with the increase in the human population, meaning that the increase in the number of users is likely to occur, although not all of them buy/use bitcoin.

Oasisman

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Price, adaption, and usage these are some of the main factors in determining Bitcoin shortage in the future. IMO, theres just a very small percentage that it will happen even after the last piece of Bitcoin will be mined, since the value of 0.003BTC will never stay at $11 for the rest of its remaining existence, it will constantly change.

valentin68

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There are approximately 60 trillion dollars in this world (paper money, etc.). That is 6*10^(13) dollars. This is 10000 dollars for everyone in this world.

If 10000 dollars would be 0.003 bitcoin then 1 bitcoin would be approx. 3.33 million dollars.

This happens in 2019, in 10 years from now, the value of 1 bitcoin could be 60 million dollars, if it were to replace every money in the world.

kodtycoon

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I think that is not possible well there are human populations that are recorded and some are not recorded, tribes in the interior that are not touched digitally will definitely not have a bitcoin so that is not possible. the supply of bitcoin is still available in the exchange so those who want bitcoin must buy only that, by the way bitcoin has been set only 21MBitcoin total supply so the supply will indeed decrease

pawanjain

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

You are missing so many points here which will prove that there won't be any shortage of bitcoins.

1. The bitcoins which are not mined yet would not have been included in your calculation.
2. The price of bitcoin will keep changing. $11 worth of BTC now might be equal to $11000 worth of BTC in future.
3. Dividing BTC further will never be an issue because it can be divisible beyond the 8 digits it is already divided into.

So the amount of BTC a person holding might be less if BTC is in mass adoption but then the value of it would be very high.

TravelMug

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This is probably just a arbitrary number. World population will grow and so as the price of bitcoin. So maybe in the next 5 years if will be difficult.

But the thing is not all people will at least earn some satoshi's in their lifetime, perhaps they are not aware of bitcoin or they don't really like it even if it will be used as form of currency in the future.

xuan87

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I think yes, if everyone in this world want Bitcoin then there will be shortage, more people want it more expensive it will become and people will want to buy more, but not everyone are interested in Bitcoin, some people still label Bitcoin as scam or criminal coin, and when the price is too high people will find other coin to invest

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Quote from: boyptc on March 11, 2019, 05:58:49 PM

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.

Lucius

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I do not see nothing wrong is such assumption, it is just game of numbers based on total supply / or current mined bitcoin compared to the total number of people in the world today. From this point of view there is nothing controversial, but we all know this is quite impossible scenario.

Because of the facts already mentioned by others, and those most important is internet accessibility, lack of knowledge in order to use technology, or fact that children under 10-12 years of life will not buy / sell / pay with bitcoin.

We should not be afraid regarding availability of bitcoin, there is enough to satisfy all current, but also future needs. With every price increase value of each satoshi is going up, so at 50 000$ per one bitcoin, 0.003 BTC is worth 150$, and this is only 12x up from current price.

chrisjohny4316

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meanwhile 0.003btc doesnot have any worth Embarrassed

ralle14

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Quote from: sammyp on March 11, 2019, 05:58:57 PM

Based on what calculations did they come by the 11 dollars per each human alive? Did they divide bitcoins in circulation (17,583,250) by number of people alive worldwide (very challenging figure to get)? I just cant imagine the source of this 11 dollars.

It's because they ended up with BTC0.003 which is about $11 and some change. They used the maximum supply of Bitcoin and divide it by the approximate population of the world which is about 7+ billion. In reality it's impossible for every person to get BTC0.003 because there's no cap on how many bitcoins we can own.

Quote from: rdbase on March 11, 2019, 10:12:21 PM

It is not based on 21 million bitcoin. It is on the amount of bitcoin that are currently in circulation.
If you cared to read the article of which I did not publish.
And the world population is closing in on 8 billion with 7.689 billion now.

If you check the tweet(shortcut) linked on their post they did actually use the maximum supply and when it's based on the current circulating supply you'll get less (BTC0.0024+).

rdbase

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Quote from: abdrahi1999 on March 11, 2019, 07:19:29 PM

If you work on 21 million coins and a world population of 7 billion then it's actually 0.003 BTC per person or 3.0 mbtc.
I am afraid neither your grammar nor your calculus is ok.

ip finder

It is not based on 21 million bitcoin. It is on the amount of bitcoin that are currently in circulation.
If you cared to read the article of which I did not publish.
And the world population is closing in on 8 billion with 7.689 billion now.
What are you a bot account because you created an account just to post one message? Roll Eyes

And what is with the ipfinder url? You hoping someone will click on it accidentally or something. Sad

Quote from: boyptc on March 11, 2019, 05:58:49 PM

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.

Yes. I said "if" as it is all hypothetically speaking.

Khaos77

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

The error in this thought process is that everyone needs bitcoin, they don't and won't.
Other Crypto can be used, everything bitcoin can do so can litecoin including Lightning network.

~40% of the world population has no internet access, so doubtful they care about any crypto.

Look at it this way , do you own a Lamborghini ,
if not , probably because you don't feel you need it or can't afford it.
The Majority of the populace feels the same way about crypto , they don't feel they need it or can't afford it.

pushups44

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Given the amount of bitcoins that have been lost and continue to be lost, that might be an optimistic figure. There is also a human tendency to hoard - thus preventing bitcoin from ever being anywhere close to evenly distributed. I believe investors should adopt the mindset of holding satoshis rather than bitcoins, given that in the future it will be impossible for everyone to own a whole bitcoin.

abdrahi1999

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If you work on 21 million coins and a world population of 7 billion then it's actually 0.003 BTC per person or 3.0 mbtc.
I am afraid neither your grammar nor your calculus is ok.

ip finder

sammyp

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Based on what calculations did they come by the 11 dollars per each human alive? Did they divide bitcoins in circulation (17,583,250) by number of people alive worldwide (very challenging figure to get)? I just cant imagine the source of this 11 dollars.

boyptc

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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.

elda34b

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Quote from: BestBitcoinBuyers on March 11, 2019, 05:50:22 PM

The world would be a better place if everybody owned some bitcoin

How so? If you can't use it then it's pretty much useless. Even if you have Bitcoin but your society don't see it as a good money you'll eventually forced to use other kind of money.

I think the argument that if all people own Bitcoin is still too general, even if we assume every context where people can use it, there's other form of money like fiat which might be more useful for daily transactions.

BestBitcoinBuyers

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The world would be a better place if everybody owned some bitcoin

Johnyz

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Quote from: ?? on ??

This is more likely to happened due to the total supply and the demands is getting stronger.

And that .003BTC will worth a million in some places for sure. If the demand continue to increase in this limited supply then the probability to go up high is very great. I do love to hold more so I have to sacrifice my finances right now for a better future.

mrdeposit

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We live in capitalism right now. Even if this money is distributed to everyone equally, it will be gathered in the pocket of great powers by any means. At least we need to eat to live and need to get from someone.

AmoreJaz

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Quote from: pixie85 on March 11, 2019, 04:15:02 PM

The situation is not just improbable but impossible. You're probably counting every human being on the planet and it includes children and old people. If you count only people over 10 years old the number will change drastically. Then you'll have to exclude people with no Internet access. They will never buy a cryptocurrency if they aren't even using electronic banking. If we can get 1% of the world to use bitcoin it will be an enormous success.

the article where he got the info didnt mention on how many people on earth they used for calculations and the number of bitcoins as well.
so all summed up, whats the impact of creating this article and showing the numbers?
to exhibit a situation where bitcoin will be very valuable in the future? to entice new users to buy more?

carter34

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Activity: 1302

Merit: 25

First, how did you come up with that $11 calculation? How many people do you think are in the world to start with. What are the range of people that understands bitcoin and can use it. Anyway, there are other questions begging to be asked on this your assumption.

Bitcoin_Arena

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Quote from: rdbase on March 11, 2019, 01:16:53 PM

-snip-

Your theory is quite vague. There are definitely so many factors to put in play this includes the price and demand.
Definitely, if everyone decided to hunt for bitcoin, the price would obviously shoot up. More money getting into bitcoin would mean less fiat money in circulation and this would only mean one thing for the bitcoin price... An upward spike in price

Think of 1 BTC at least at 100,000 USD and above

pixie85

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The situation is not just improbable but impossible. You're probably counting every human being on the planet and it includes children and old people. If you count only people over 10 years old the number will change drastically. Then you'll have to exclude people with no Internet access. They will never buy a cryptocurrency if they aren't even using electronic banking. If we can get 1% of the world to use bitcoin it will be an enormous success.

okala

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Quote from: romero121 on March 11, 2019, 01:35:07 PM

In comparison to the fund that each user around the world have in terms of fiat what's been possible in terms of bitcoin is very small. This shows the widened accessibility and circulation of fiat over cryptocurrencies. Maybe when years pass the same might lead to the increase in the value of bitcoin everyone have as the demand increases with the limited supply only with an increase in value can make it availed to everyone.

Cryptocurrency is just too young to be compared with fiat money, before bitcoin and all other altcoins can be compare to fiat its when it has been adopted by the general public and accessible to all. The total number of bitcoin that can be mine is 21 million and if that amount can equal the number of individuals in the world it will case the Price of bitcoin to go high due to high level of demand for the currency.

Nolimitz84

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Quote from: squatter on March 11, 2019, 02:31:18 PM

Quote from: rdbase on March 11, 2019, 01:16:53 PM

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 more people want to buy bitcoins than are for sale, the price will rise. That's all "shortage" really means. The price may rise significantly over the years because of Bitcoin's built-in scarcity.

There's plenty of bitcoins to go around, though -- they are divisible down to the satoshi. And with bearer instruments, LN, etc. people will have ways to use small amounts of coins without incurring on-chain fees.

I think that the price of Bitcoin will be higher, but only where are there any guarantees that there will be such a big demand for Bitcoin?I am surprised that many even now do not know anything about the existence of Bitcoin.I think bitcoin is enough for everyone.

BestSSS

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Yes, this is true - a simple example of mathematics class 5 confirms these figures, given that on earth lives a little more than 6 billion people.

Wildwest

sr. member

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That is still somewhat inaccurate data because there are still many people who have not been counted in it, of the many people in the world who still do not necessarily know technology, especially about crypto

squatter

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STOP SNITCHIN'

Quote from: rdbase on March 11, 2019, 01:16:53 PM

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 more people want to buy bitcoins than are for sale, the price will rise. That's all "shortage" really means. The price may rise significantly over the years because of Bitcoin's built-in scarcity.

There's plenty of bitcoins to go around, though -- they are divisible down to the satoshi. And with bearer instruments, LN, etc. people will have ways to use small amounts of coins without incurring on-chain fees.

poptok1

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Bobby Fischer was right

Quote from: rdbase on March 11, 2019, 01:16:53 PM

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?

News flash: It already have happened, look at the price Grin

This thing so rare and expensive that maybe 1% of our world society can afford buying some.
And take in to consideration how many satoshis are lost forever... to me i looks more like 0.0024 per person and this is very optimistic scenario. Kinda gives some perspective when you think about it, there where times when you could get this much on faucets. Mad.

sheenshane

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There's a limited supply of Bitcoin, the total number of all supply bitcoin is 21 million right? As far as I know, there are only 15 million discovered and generated bitcoin so, if we subtract this 15 million to 21 million there are 6 million unaccessible bitcoin. I think that does not make sense to have a shortage available on bitcoin. Probably time to time the demand will increase and the supply will be decreased too, that's the time will have a shortage and the value of 0.003 BTC also change into a higher price rate.

Harlot

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Activity: 1806

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The thing is "shortage" will always depend on what price will that .003 BTC be and looking at it a 11$ now might be a whole different story when we see if people each have that .003 BTC by now. So we couldn't assume anything if there would be a shortage of supply as we don't know what the value will be yet if that happened. Also that .003 BTC won't always be in the hand of the owner forever somehow or someway they would need to spend it, some might even spend it right away after they receive it. Some will be hoarding it after they receive it and the imbalance will quickly shift as soon as most of the people have emptied out their share.

Onuohakk

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There are so many people that has not been counted in the global number of people in the world and that aside not everyone is interested in cryptocurrency and there are still whales that has large number of cryptocurrency at there disposal

romero121

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In comparison to the fund that each user around the world have in terms of fiat what's been possible in terms of bitcoin is very small. This shows the widened accessibility and circulation of fiat over cryptocurrencies. Maybe when years pass the same might lead to the increase in the value of bitcoin everyone have as the demand increases with the limited supply only with an increase in value can make it availed to everyone.

rdbase

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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?

Topic: If everyone in the world owned bitcoin each would have 0.003btc (Read 688 times)