Topic: Is 21million BTC really enough for the wole world? - page 2. (Read 4565 times)
I Dont even believe that bitcoin was originally made for the whole world in the first place. Its either that Satoshi never had the idea that the project will be as successful as this or the 21 million maximum cap is a ruse for everyone to believe that the number of bitcoin is limited so as to keep the pressure high and miners can make more money. But either way, I dont see the 21 million enough to cater for everyone.
You are getting it wrong. Let me explain.
There's some 170k-180k tons of gold mined. Let's say 170 000 000 kg. Your question is like asking why can't everybody have 1kg of gold.
Not everybody wants Bitcoin and also Bitcoin has subunits (in the same way 1kg has grams). People can get 0.1 BTC. Or 0.0001 BTC. Some day even that may be pricey.
So the answer is yes, there's enough Bitcoin.
For human greed, 21 billion is not enough. But, I do agree that not all of man will have bitcoin, just a few of us.There's some 170k-180k tons of gold mined. Let's say 170 000 000 kg. Your question is like asking why can't everybody have 1kg of gold.
Not everybody wants Bitcoin and also Bitcoin has subunits (in the same way 1kg has grams). People can get 0.1 BTC. Or 0.0001 BTC. Some day even that may be pricey.
So the answer is yes, there's enough Bitcoin.
Furthermore, not everyone knows about bitcoin even just heard about it. Bitcoin isn't so attractive for some people instead of using fiat money or holding gold. I realized that bitcoin is not created for all of us such as fiat money, but only for them who wants to use this technology but not as currency.
i think that in future most of the people will be using bitcoin. as we can expect that in future the price of bitcoin will increase too much and hope that in such time we will count bitcoin in satoshi as because of its high price.
Yes, when bitcoin prices reaching million price levels or 10 millions levels, we need to use lower units than satoshi to have convenient notations. The biggest advantage of electronic payment systems, we can have unlimited number of units hence 21 million bitcoins is just a theoretical limitation not for practical usage.When it's pretty much divisible by an infinite amount, yes.
Literally we can say bitcoin has infinite amount of units to serve us regardless of how many people will be adopting it. Mr. Satohsi has given us a versatile system to withstand for any future requirements. 
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Just think about the number of people that will be using bitcoin in the future, we can not be able to determine if the whole pulation will use bitcoin at this time and for sure it is not 100% of the entire population will adapt bitcoin . Also, not all people will be able to obtain 1 bitcoin easily so I can say that 21 btc is enough .
Only time can tell... IMO, that's enough, at least for our life-times.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
Yep, now that the price is getting more volatile than it was before before because of that Bitcoin ETF thing there will be more people holding coins and less people having any access in getting any coins from Bitcoin Exchanges (At least not as much as they hope to get).
If Bitcoin actually pumps up towards the $1 per Sat then there would be chaos, there is a bunch of people that loss a large amount of coins just by playing Bitcoin Dice games.
When it's pretty much divisible by an infinite amount, yes.
Only time can tell... IMO, that's enough, at least for our life-times.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
If there are a lot of potential investors that are going to come in the future then I can say that 21 million bitcoin is enough for the whole world. Because I know that not all the population of the world will be getting in bitcoins. Less out those burned coins still that can cater the people in the world that are using bitcoin no matter what.
In future there might be more potential investors. 21million is very small compared to the entire population around, so only with the increased price and denominations the bitcoin network can serve the entire world for the better.Yeah that is what we will exactly see when all 21 million bitcoins has been mined. Plus those coins that are sent to the wallet that are lost forever, there's no way to recover it. That will make the demand higher because of those coins because they are reducing the quantity of total coins in the market, so a fact that price will become higher.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Just think about the number of people that will be using bitcoin in the future, we can not be able to determine if the whole pulation will use bitcoin at this time and for sure it is not 100% of the entire population will adapt bitcoin . Also, not all people will be able to obtain 1 bitcoin easily so I can say that 21 btc is enough .
Not everyone in the world uses bitcoin, i guess with some innovations in the future bitcoin could possibly break it's 21 million barrier or is this the limit of this currency?
21 million supply maybe enough if you divide 1 btc into smaller parts or to its sub units and then if everyone in the world just decides to use BTC, yes its enough.
21 million supply maybe enough if you divide 1 btc into smaller parts or to its sub units and then if everyone in the world just decides to use BTC, yes its enough.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
There is 8 decimals for which 1 bitcoin is equivalent to 100 Million satoshi. That will make it enough for everybody actually but of course we can't expect we give each person in the world to have bitcoin. The never have to worry about having none anyway, there are tons of altcoins and they can even chose which one they like the most. ETH, DASH and MONERO is always there for them to take. Why in the world would having jsut 21 Million BTC be a problem anyway, exchanges always accepts coins with value.
I think it is not enough if everyone want to keep and used bitcoin, but not everyone want to used bitcoin and not everyone is interested in bitcoin, when the price is too high some of the user will choose another coin to invest, bitcoin itself is not enough for whole world but we still have another coin to invest and to used
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
There is 8 decimals for which 1 bitcoin is equivalent to 100 Million satoshi. That will make it enough for everybody actually but of course we can't expect we give each person in the world to have bitcoin. The never have to worry about having none anyway, there are tons of altcoins and they can even chose which one they like the most. ETH, DASH and MONERO is always there for them to take. Why in the world would having jsut 21 Million BTC be a problem anyway, exchanges always accepts coins with value.
And if ever this is not enough, Bitcoin can always be modified if needed. Divinding satoshi to smaller units adding another 8 decimals to the right will definitely do it. There will be more dusts of Bitcoins than the population of the world. So I guess eveyone have more than enough dusts of Bitcoins if ever it is accepted around the world.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
There is 8 decimals for which 1 bitcoin is equivalent to 100 Million satoshi. That will make it enough for everybody actually but of course we can't expect we give each person in the world to have bitcoin. The never have to worry about having none anyway, there are tons of altcoins and they can even chose which one they like the most. ETH, DASH and MONERO is always there for them to take. Why in the world would having jsut 21 Million BTC be a problem anyway, exchanges always accepts coins with value.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
There is 8 decimals for which 1 bitcoin is equivalent to 100 Million satoshi. That will make it enough for everybody actually but of course we can't expect we give each person in the world to have bitcoin. The never have to worry about having none anyway, there are tons of altcoins and they can even chose which one they like the most. ETH, DASH and MONERO is always there for them to take. Why in the world would having jsut 21 Million BTC be a problem anyway, exchanges always accepts coins with value.
I think it will be enough if we get the satoshis to be atleast equivalent to $1 or in that range. That way since a 100 million satoshis makes 1 BTC there will be (21 million*100 million satoshis= 2.1 quadrillion satoshis and the can be shared to the whole world population I guess.
In my opinion, it is not. There are seven billion people in the world, if bitcoin gets a mass adoption by the year all bitcoins have been mined and assuming 50 percent of the people use bitcoins, that means 3.5 billion people using it. 21,000,000/3,500,000,000 would yield, 0.006 each person if spread evenly. This will result to the prices of bitcoins to be extremely big.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
It seems like a small amount for the whole world. That is one reason why the price has potential to go very high, and many Bitcoins are going to be lost so it really won't be 21 million in circulation. I can see that other cryptocurrencies could be used along with Bitcoin for this reason also.
Just like others said there its just enough even though bitcoin is just 21 million it would be enough for all the people all over the world considering on its huge population on total since bitcoin can be divided on to small parts which means it can accumulate all just in case theres a partition.
Of course it is enough because bitcoin can be dividen to small part are like 0.001BTC 0.01BTC 0.1BTC and other,
although bitcoin is not good for little transaction because of high fees at least for today because of block size problem.
But 21million of bitcoin is enough for put the whealty and values in bitcoin also limited amount of bitcoin good for price.
although bitcoin is not good for little transaction because of high fees at least for today because of block size problem.
But 21million of bitcoin is enough for put the whealty and values in bitcoin also limited amount of bitcoin good for price.
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