I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Yes, it would not be enough for the whole world.Only for that reason,more people are holding it as saving since there would be a great demand for bitcoin in future,but there would be no more new bitcoin.Its better when compared to US Dollars which is printed infinitely. 
Topic: Is 21million BTC really enough for the wole world? - page 3. (Read 4565 times)
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Assuming that you see bitcoin as commodity the answer is obvious. Any amount of bitcoin is enough like as with gold metrics (carats, ounces). As we know there are many people in earth without gold but nobody wander if gold reserves are enough compared to world population. Moreover assuming that you use bitcoin as currency again I could say that is enough too. Even for 1 satoshi (10-8 btc) if the need arises for less then you can convert it into fiat or an altcoin.
Yes, 21million bitcoin is enough for the whole world because almost all of them won't use bitcoin like even with gold some countries they will use only a few ounces. When we have less supply than demand will be more, in this way bitcoin price will skyrocket.
Wrong, because you can't only take into account only the hard cash. So 1 satoshi would be worth like $0.0000005. So the amount of bitcoin, given mass adoption by everyone on the planet, would look stupid. Imagine you'd be paid each month 74cents or some other weird amount.
Let me do the calculations. Right now, the available money supply (in hard cash) around the world is less than $10 trillion. Imagine that all this amount is replaced with Bitcoins. So instead of $10 trillion worth of banknotes and coins, you have 20 million Bitcoins (assuming that one million Bitcoins are lost due to missing private keys). So ultimately, these 20 million Bitcoins will be worth $10 trillion. Each of the Bitcoins will be worth ($10 trillion / 20 million) = $500,000. One Satoshi will be worth $0.005, the value of which is lower than the lowest denomination US Dollar coin.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
if everyone has their own bitcoin only kept them in their wallet He would not have had such a value. it is necessary that it exists in traffic.
If 21mill. is not enough, you always can use altcoin for the specific niche or local job
Nobody cares that you can split it into satoshi. Because the fee to send is close to 0.001. So you need a minimum 0.1 bitcoin to send a 0.001 bitcoin, preferabely minimum 1btc, to only pay 1/1000 of your money. With less, something like 0.01 bitcoin you'd end up paying 10% of your transaction as fee.
No, the fee is variable, so it reduces as the exchange rate of bitcoin increases.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
It can be enough because the quantity of bitcoins each hold can vary as per the worth of each bitcoins. I mean when the price was $100 people can hold 10-20 btc on average while now the price is $1000++ then people hold like 1 bitcoins and if more people adopt bitcoins then that would lead to much higher price and hence lower average per person.
Nobody cares that you can split it into satoshi. Because the fee to send is close to 0.001. So you need a minimum 0.1 bitcoin to send a 0.001 bitcoin, preferabely minimum 1btc, to only pay 1/1000 of your money. With less, something like 0.01 bitcoin you'd end up paying 10% of your transaction as fee.
I think it is enough, because if we calculate satosi then:
21 million x = 100 million = 21,000,000,000,000,000. If the world population is 10 billion, if divided equally gets 2.1 million satosi. I think this is a sufficient amount to make a transaction. I'm sure, bitcoin been made think of that.
21 million x = 100 million = 21,000,000,000,000,000. If the world population is 10 billion, if divided equally gets 2.1 million satosi. I think this is a sufficient amount to make a transaction. I'm sure, bitcoin been made think of that.
Yes enough. If more will decrease bitcoin value.
People gain bitcoin for value .
Also if more bitcoin will make government came out to stop.
(just like if country print more notes)
Miners transaction fee will be increase too due to traffic as more bitcoin.
Security issue will be more .
People gain bitcoin for value .
Also if more bitcoin will make government came out to stop.
(just like if country print more notes)
Miners transaction fee will be increase too due to traffic as more bitcoin.
Security issue will be more .
The total market cap is not enough to cover the whole population of the world, but that doesn't mean that it will get out of the game after getting the last bitcoin mined, but in fact, this would mean that the prices will go high like crazy and the coins will be spread in users at their least denomination, may be during that time, even an mBTC would cost more than $100.
Yes, bitcoins is an asset so that means the people who get into bitcoins first would have the biggest and best part of the cake and the guys who get into bitcoins late would just have the left over or I should say lesser amount of bitcoins. The problem is not the 21 million bitcoins but the miners would stop when all coins are mined and the transaction fee as mining reward will not be enough profitable for them. 
Actually even 1 satoshi can be spent and there will be 21 million x 10^8 Satoshi which i think will be more than enough for everyone. Also by the time when all bitcoin will be mined, world population may not remain 6 billion only. 
you can't spend one satoshi as long as the fee are higher than 1 satoshi, and will never be below one satoshi unless again you are willign to hard fork and make another unit which is smaller than 1 satoshi
you have the option to send without fee but it's not feasible anymore currently, the TX will just return back, the minimum spendeable is equal to the fee at least
assuming 50k satoshi per transaction as a average you have 2k satoshi much for each btc, still 42B "50k" satoshi to be divided to everyone
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
It's not really about the quantity of coins there is.
Think about it, there are countries where exchange rates are really low, say South Korea and Japan. And there are countries where there is a relatively low amount of money in circulation and a really high exchange rate as an result, let's just say Great Britain and Europe.
21 million BTC can be divided into infinite sub-units, it can be seen as 21*1000 million mBTC, or 21*1000000 uBTC, or 21*100,000,000 satoshis. Now is that enough for the whole world? Yes.
It doesn't matter how many bitcoins are in circulation. What matters is if the network is functional or not.
I think it's enough because if there's a lot of them that is enough for everyone then that will loose it's value because every one can have it and everyone can afford it then it will devalue the Bitcoin. For me, the more it become limited, the more it's valuable and good for keeps and also make it more unique.
Everything around here on earth is finite. Time is the only known perpetual force and will always keep on going.
Gold
Metals
Minerals
Diamonds
Everything has its own limitations. The thing here is it's not the number of bitcoins that will be enough. For example; even if we mine all the gold in the earth it will only make its value cheaper, the rarity of product is what measures its price. Even if we have billions of Bitcoin and its value is just 0.0000001 dollars you will just need a lot of it to have 1 dollars. If we only have 21 million bitcoins and the price of 0.001 Bitcoin is about 2000 dollars it will be the same as when we have a billion bitcoins. Scarcity make this possible.
High demand and low supply= high price
High supply and low demand = low price
And lastly everything is not enough for the high demand of need of humans so we tend to control that supply to control inflation and to avoid its value to fall.
Gold
Metals
Minerals
Diamonds
Everything has its own limitations. The thing here is it's not the number of bitcoins that will be enough. For example; even if we mine all the gold in the earth it will only make its value cheaper, the rarity of product is what measures its price. Even if we have billions of Bitcoin and its value is just 0.0000001 dollars you will just need a lot of it to have 1 dollars. If we only have 21 million bitcoins and the price of 0.001 Bitcoin is about 2000 dollars it will be the same as when we have a billion bitcoins. Scarcity make this possible.
High demand and low supply= high price
High supply and low demand = low price
And lastly everything is not enough for the high demand of need of humans so we tend to control that supply to control inflation and to avoid its value to fall.
But what I think is most important to realize about Bitcoin is that it is the driving force behind what people are calling "currency competition" and we as people around the world are now far more able to choose what we believe provides us with the best utility
"Currency Competition" is a bit misleading, no?
Are you talking about competition among cryptos? There really isn't any. What businesses are accepting Litecoin or Doge or any of the other dozen crypto coins in existence? None. Bitcoin is it for the crypto currency. And to expand a bit, how much competition is Bitcoin giving the Dollar or the Euro or the Yuan? Very, very little. Most places don't accept Bitcoin and of those that do most still are doing business in fiat over Bitcoin.
And to other Members bringing up that there are 100,000,000 satoshi in 1 Bitcion...it's been said over 10 times now. Any future comments like this can be considered "not constructive" and shouldn't be paid for from your signature campaign.
Actually even 1 satoshi can be spent and there will be 21 million x 10^8 Satoshi which i think will be more than enough for everyone. Also by the time when all bitcoin will be mined, world population may not remain 6 billion only.
And every satoshi will have a high value in the future. don't forget 1 btc = 100,000,000 satoshi
The smallest count in bitcoin is satoshi. I think in the future people will be getting used to satoshi, so long as it surely bitcoin prices will have a very high value.
It is not like each person will be owning one btc each. At most, only a part of the population will have bitcoin in their wallet. And bitcoin can be divided into units, it the smallest so far, satoshi. 1 bitcoin is 100million satoshi. So we have 21M by 100M satoshi to be used by bitcoiners. I think that is more than enough.
The exact number of units that the protocol is designed to release is:
2,099,999,997,690,000 satoshi.
2,099,999,997,690,000 satoshi.
It is enough for it .it was planned very well and executes too .there are 8 units for satoshi .it is more than enough for some people .by the time the price of bitcoins would reach up to a maximum height .
Of course it is. It's divisible 100m times and the value is relative.
Bitcoins are divisible down to 8 decimal places: 1 satoshi = 0.00000001 BTC
This is more than enough to provide 7 billions (or more people if necessary) with fracture of Bitcoin.
This is more than enough to provide 7 billions (or more people if necessary) with fracture of Bitcoin.
One bitcoin = 100,000,000 satoshis - http://bitcoin.stackexchange.com/questions/114/what-is-a-satoshi.
When all 21 million bitcoins have been mined, there will be 2,100,000,000,000,000 satoshis. If the earth has 8 billion people at that time, this would give every person 262,500 satoshis on average.
When all 21 million bitcoins have been mined, there will be 2,100,000,000,000,000 satoshis. If the earth has 8 billion people at that time, this would give every person 262,500 satoshis on average.
Yes. The number of Bitcoins is not as important as the scarcity of Bitcoins. Since each Bitcoin can be divided into one million bits (1,000,000) or one hundred million Satoshi (100,000,000) I often try to compare bits against fiat currencies instead of entire bitcoins.
1 bit can be divided into 100 Satoshi and 1 Dollar, Euro, Pound, etc. can also only be divided into 100 cents/pence etc. so if we are to compare "equal units" against each other, I think it is better to view 21 million Bitcoins (21,000,000 BTC) as 2.1 billion bits (2,100,000,000 b) or even as 2.1 trillion Satoshi (2,100,000,000,000 s).
1 bit can be divided into 100 Satoshi and 1 Dollar, Euro, Pound, etc. can also only be divided into 100 cents/pence etc. so if we are to compare "equal units" against each other, I think it is better to view 21 million Bitcoins (21,000,000 BTC) as 2.1 billion bits (2,100,000,000 b) or even as 2.1 trillion Satoshi (2,100,000,000,000 s).
Surely it is. Each BTC has 100.000.000 of satoshis. 21.000.000 x 100.000.000 = 2.100.000.000.000.000 of satoshis, enough for all the world use it well. 1 Satoshi can values more than 1 currently cent. Probably the difficult would be to buy cheap things with BTCs, as 1 satoshi could value more than the price of cheap things like one fuit, one candy...
Let's keep the forum clean, guys. Stop the spam, Seriously.
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. 
Actually even 1 satoshi can be spent and there will be 21 million x 10^8 Satoshi which i think will be more than enough for everyone. Also by the time when all bitcoin will be mined, world population may not remain 6 billion only.
I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Nobody said that 21 million bitcoin is enough for us, because the truth is, every bitcoin users around the world desires to have more bitcoin as many as possible, because this is our true nature, we want more as long as it benefits us. And not all the people around the world wants bitcoin and know about bitcoin so this 21 million bitcoin is too much for all the bitcoin users right now, if all the people around the world will use it, then it is not enough.
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