THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
In time there won't be enough satoshis to go around then we really might start panicking until of course we make a new unit more divisible than a satoshi
Topic: The simple truth is.. (Read 2178 times)
In time there won't be enough satoshis to go around then we really might start panicking until of course we make a new unit more divisible than a satoshi
There will never be 21 million btc. There are millions of btc lost forever. So I think it's fine if we say 18 000 000 btc. That's a very small number. But you have some and you know it. 
While it can be very difficult to estimate the amount, I would give a wild guess that it could be less than 5mln coins that are really being used these days.
i think it is a lot more than that.
there is about 500,000 bitcoins being transferred each day according to blockchain.info and 5 million is the sum of 10 days! so i guess the amount of bitcoin in circulation is a lot more than this.
I think that in this point you can compare bitcoin to gold.
There is not enough gold for everybody as well. But exatly that is one of the reasons where gold draws its value from.
Personally I think that the payment system part of bitcoin is losing its importance. People use it less and less.
So bitcoin needs to be a rare good in order to keep or rise its value.
There is not enough gold for everybody as well. But exatly that is one of the reasons where gold draws its value from.
Personally I think that the payment system part of bitcoin is losing its importance. People use it less and less.
So bitcoin needs to be a rare good in order to keep or rise its value.
Gold is way more abundant. There are 165,000 metric tons of gold that have been mined over the centuries[1]. This is 5.305 × 10^9 troy ounces, or enough for everyone on Earth to have about 0.72 ounces.
1. http://www.numbersleuth.org/worlds-gold/
Quote
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
I explain it to you in easy words you may capable to understand. The maximal nr if Bitcoin will be 21.000.000. The current nr of world population today is 7.502.189.056 (http://www.worldometers.info/world-population/)
Now the law of mathematics say: 7.502.189.056 is a bigger number than 21.000.000
If everyone would receive a fair share, that would be awesome 0.00279 BTC for everyone.
0.00279 Bitcoin does not equal to "a Bitcoin".
Therefore the simple truth is:
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
Also I would like to add that not only the BTC is limited by 21mln, but also the "available for circulation" BTC are much fewer.
We have to remove:
- Very long term holders, look at top 100 addresses that are not active, they holds large amount of coins and most probably not enter the circulation for a good moment;
- address with lost private keys;
- not yet mined;
While it can be very difficult to estimate the amount, I would give a wild guess that it could be less than 5mln coins that are really being used these days.
We have to remove:
- Very long term holders, look at top 100 addresses that are not active, they holds large amount of coins and most probably not enter the circulation for a good moment;
- address with lost private keys;
- not yet mined;
While it can be very difficult to estimate the amount, I would give a wild guess that it could be less than 5mln coins that are really being used these days.
In my stand point, I can compare bitcoin to gold. Because the more you hold it and keep it the more you earn a lot! The thing that you can defferentiate it is there value. In gold, when the day passed by it's value become bigger while in bitcoin it depends on the situation. Although, when bitcoin crashed it can be a good thing also. So, it's 50/50 here.
Gotta love it when a fool talks out of both sides of his neck to pad a shitpost and thereby increases the shittiness of this forum. There's enough bitcoin to go around. And if there's not, we'll move on to doge and Yobit will be like the federal reserve of crypto. Hopefully by that time this forum will have died.
In my stand point, I can compare bitcoin to gold. Because the more you hold it and keep it the more you earn a lot! The thing that you can defferentiate it is there value. In gold, when the day passed by it's value become bigger while in bitcoin it depends on the situation. Although, when bitcoin crashed it can be a good thing also. So, it's 50/50 here.
I think that in this point you can compare bitcoin to gold.
There is not enough gold for everybody as well. But exatly that is one of the reasons where gold draws its value from.
Personally I think that the payment system part of bitcoin is losing its importance. People use it less and less.
So bitcoin needs to be a rare good in order to keep or rise its value.
There is not enough gold for everybody as well. But exatly that is one of the reasons where gold draws its value from.
Personally I think that the payment system part of bitcoin is losing its importance. People use it less and less.
So bitcoin needs to be a rare good in order to keep or rise its value.
the correct way of looking at this situation is like this:
in 2009 you could have bought 1000BTC or 1000e+8 satoshi at a small price
then in 2010 the same amount became hard to buy.
....
now in 2017 buying 1000BTC is literary impossible for majority of us.
now we talk about buying 1BTC or 1e+8 satoshi
...
in a couple of years people are going to say 0.1BTC is too expensive i am going to wait until price dips to $9000 and buy.
in 2009 you could have bought 1000BTC or 1000e+8 satoshi at a small price
then in 2010 the same amount became hard to buy.
....
now in 2017 buying 1000BTC is literary impossible for majority of us.
now we talk about buying 1BTC or 1e+8 satoshi
...
in a couple of years people are going to say 0.1BTC is too expensive i am going to wait until price dips to $9000 and buy.
if we speak about satoshis yes. But since everybody only speaks about bitcoins:
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
:-)
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
:-)
we have 21 000 000 000 000 00 satoshis.
satoshi is the new bitcoin. [im g]http://imagizer.imageshack.us/a/img908/3342/FejFyR.gif[/img]
Yes, this was explained thousand times still people are not ready to accept the advantages of infinitely divisible electronic format currencies. Even bitcoin achieves price levels like 100k dollars, still common man will be able to buy some bitcoin up to his level of spending. So, obviously no matter how big bitcoin goes, there will be enough fraction of bitcoin will be available to everyone.satoshi is the new bitcoin. [im g]http://imagizer.imageshack.us/a/img908/3342/FejFyR.gif[/img]
@OP
If you are dreaming about owning 100 or 1000 bitcoins then it will be impossible if you are not a millionaire already. In early days people were owning thousands of bitcoin but now a days 10+ also becoming like very big achievement. In near future it may shrink up to levels 0.1 or 0.001 bitcoins. So, there will be "some" bitcoins for everyone.
we have 21 000 000 000 000 00 satoshis.
satoshi is the new bitcoin.
satoshi is the new bitcoin.
keep in mind:
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
21 million bitcoin is just enough for the whole population of the world.as the demand for bitcoins will increase ,so will the price of bitcoins as a result satoshi would be a great value in those days in the future.
Yes it's true, that's why the price is growing. It will possible to ''make'' more btc? But when are enough, they'll have to stop.
Let's presume that when 21 millions of bitcoin have been mined, Bitcoin price would be $100,000 each. So even 10bits (which is a very small amount of bitcoin – 0.00001BTC) of Bitcoin would be worth $1 at that time, hence, the 21-million coins would be enough for everyone, but we are not going to be there soon, worry not.
In economics:
As the demand increases the price increases and thus as the demand decreases the price decreases.
As the supply increases the price decreases and thus as the supple decreases the price increases.
That's how the economics adapt with the demand and supply really. But still it is needed to increase the supple to make it balanced with regards of the demand because super high price results to a not so good scenarios though the users would really enjoy the high price of Bitcoin but it should not be so much, just enough.
Satoshi could have just as easily launched with 1 BTC as the cap, and there is still enough bitcoin for everyone in the world to buy and use it. The whole fkn point of having 8 decimal places, with room for 8 more with a single line of code change.
You obviously still don't get it.
People are not going to stop buying and using something nearly infinitely divisible, just because the single unit exchange rate is showing something more than they can afford. The amount of world merchant adoption will be the only measuring stick for any cryptocurrency's popularity and usage at world scale, not the exchange rate.
Bitcoin is not a form of "bling" and there are no bragging rights. It's simply money, to be saved and spent. You can buy any amount of it now, or in the future, no matter what the exchange rate is.
You obviously still don't get it.
People are not going to stop buying and using something nearly infinitely divisible, just because the single unit exchange rate is showing something more than they can afford. The amount of world merchant adoption will be the only measuring stick for any cryptocurrency's popularity and usage at world scale, not the exchange rate.
Bitcoin is not a form of "bling" and there are no bragging rights. It's simply money, to be saved and spent. You can buy any amount of it now, or in the future, no matter what the exchange rate is.
All would have been great if you wouldn't have missed a small thing.
People will have to pay the tx fee to have their Bitcoin in their wallet.
With a tx fee of 0.0005 BTC you can see that without some changes you cannot benefit of all "8 decimal places": under a certain value it's not worth buying and transferring Bitcoin.
Since now 21 mil BTC / 7.5bn people = 0.0028BTC we are getting close to that point.
(I didn't double check my calculation, though, I hope I didn't do a mistake..)
Let's presume that when 21 millions of bitcoin have been mined, Bitcoin price would be $100,000 each. So even 10bits (which is a very small amount of bitcoin – 0.00001BTC) of Bitcoin would be worth $1 at that time, hence, the 21-million coins would be enough for everyone, but we are not going to be there soon, worry not.
Bitcoin won't get to 100k$ if Lightning Network doesn't get added and from what i see, we will never have Lightning Network and Segwit because of Ver&Wu
When bitcoin gets to 100k$, you won't be able to make small transactions because the miner fees will become extremely expensive. If the fees become expensive, people will stop using bitcoins. If they stop using bitcoin, it's price won't rise. So bitcoin price depends on how big its user base is.
Not everyone will use it anyway, so it will just be fine. And scarcity drives the price higher so benefit for bitcoin adopters. And you do not need to have a complete bitcoin. If the price keeps on going up, a few bits will be good enough someday.
I still don`t know what percent of all btc users are just holders that wait for the price to increase and don`t do anything with their bitcoins.
I wish i was a btc adopter back in 2010.
It is kind of true. People looking to buy into bitcoin now will not want to buy $500 worth, meaning 0.33BTC.
They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
If you and everyone else keeps saying this to yourself, then you'll never get or understand what Bitcoin is now, or will be in the future. How do you think Bitcoin will survive in the future when it's exchange rate = $10K/btc, or $100k/btc? You think that will somehow prevent people from buying and using it? On the contrary, it will be the exact opposite.
Satoshi could have just as easily launched with 1 BTC as the cap, and there is still enough bitcoin for everyone in the world to buy and use it. The whole fkn point of having 8 decimal places, with room for 8 more with a single line of code change.
You obviously still don't get it.
People are not going to stop buying and using something nearly infinitely divisible, just because the single unit exchange rate is showing something more than they can afford. The amount of world merchant adoption will be the only measuring stick for any cryptocurrency's popularity and usage at world scale, not the exchange rate.
Bitcoin is not a form of "bling" and there are no bragging rights. It's simply money, to be saved and spent. You can buy any amount of it now, or in the future, no matter what the exchange rate is.
Quote
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
I explain it to you in easy words you may capable to understand. The maximal nr if Bitcoin will be 21.000.000. The current nr of world population today is 7.502.189.056 (http://www.worldometers.info/world-population/)
Now the law of mathematics say: 7.502.189.056 is a bigger number than 21.000.000
If everyone would receive a fair share, that would be awesome 0.00279 BTC for everyone.
0.00279 Bitcoin does not equal to "a Bitcoin".
Therefore the simple truth is:
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
But there is enough satoshi for everyone
. I guess having not enough bitcoin is not an issue but rather a strong feature of Bitcoin. This will make bitcoin price to increase due to the demand of people. And on the contrary not everyone will have personal computer and definitely not everyone are able to use a computer / gadget that is connected to internet. so I guess there is some discrepancy in the computation. It is kind of true. People looking to buy into bitcoin now will not want to buy $500 worth, meaning 0.33BTC.
They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
How is that a problem again? If yhey have no fiat money to buy 1 BTC they will just buy half or 1/3 does that matter?They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
If you want to own a lot of coins then buy LTC wen it is still cheap, or better something like DOGE.
No one said that you need to have 1 full BTC or else your are not true bitcoin owner.
It is kind of true. People looking to buy into bitcoin now will not want to buy $500 worth, meaning 0.33BTC.
They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
I feel lucky that I bought in the 2014 dip and have more or less held. I am not sure that the only way is up, but I am scared that if I sell, I will be left looking stupid when Bitcoin is worth $25k per coin!
How many of the total Bitcoin supply are actually available to buy anyway? I reckon way less than 1mil
They will want at least one whole Bitcoin. That isn't really viable for a lot of people though.
I feel lucky that I bought in the 2014 dip and have more or less held. I am not sure that the only way is up, but I am scared that if I sell, I will be left looking stupid when Bitcoin is worth $25k per coin!
How many of the total Bitcoin supply are actually available to buy anyway? I reckon way less than 1mil
Quote
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
I explain it to you in easy words you may capable to understand. The maximal nr if Bitcoin will be 21.000.000. The current nr of world population today is 7.502.189.056 (http://www.worldometers.info/world-population/)
Now the law of mathematics say: 7.502.189.056 is a bigger number than 21.000.000
If everyone would receive a fair share, that would be awesome 0.00279 BTC for everyone.
0.00279 Bitcoin does not equal to "a Bitcoin".
Therefore the simple truth is:
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
Well that is how it was designed! This was an intentional thing as bitcoin was somewhat patterned with gold where gold is easily mined at the start and gradually becomes harder but in the end, gold is also scarce at it is also finite. This is a truth we must face as well as, if there is no limit then it will just continue to produce more of it.
Other than to signify an exchange rate, a 'bitcoin' is simply an abstract unit of measure, and a pretty meaningless one at that.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Yup. Literally everyone in the world can afford a satoshi or even (wow!) 100 Satoshis. No one is THAT poor. Although some people may not be able to afford a computer/phone with Internet so I guess in that case they would never have bitcoins.
Other than to signify an exchange rate, a 'bitcoin' is simply an abstract unit of measure, and a pretty meaningless one at that.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Yup. Literally everyone in the world can afford a satoshi or even (wow!) 100 Satoshis. No one is THAT poor. Although some people may not be able to afford a computer/phone with Internet so I guess in that case they would never have bitcoins.
Other than to signify an exchange rate, a 'bitcoin' is simply a unit of measure, and a pretty meaningless one at that.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying it at all.
well, for now people are measuring things with "bitcoin" and there aren't enough of that "unit" for everyone. soon they'll realize this and become like those drawings and start measuring things with "uBTC" then that won't work either then they start smaller and smaller and finally "Satoshi".
Don't Worry, be Happy! .... I will just shift some digits and create some more. 
.... At least there will be enough Satoshi's for everyone.
To really think about it, MANY of us will not own a single Bitcoin in the near future.... because most people will start selling at $5000/BTC or at
$10 000/BTC ..... and the big guns in the markets will buy up most of the coins. Owning a Bitcoin will be a luxury.
.... At least there will be enough Satoshi's for everyone. To really think about it, MANY of us will not own a single Bitcoin in the near future.... because most people will start selling at $5000/BTC or at
$10 000/BTC ..... and the big guns in the markets will buy up most of the coins. Owning a Bitcoin will be a luxury.
So first of all we can't blame satoshi nor the system he created because his pure motive to start something like bitcoin was to introduce an alternative to gold. Does gold have unlimited supply = No right so therefore why would you expect bitcoin to have unlimited supply. And also the whole world is also not aware of bitcoin so supply for everyone wouldn't be useful at all
Other than to signify an exchange rate, a 'bitcoin' is simply an abstract unit of measure, and a pretty meaningless one at that.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Saying there are not enough bitcoins is like saying that there aren't enough bars of gold, or barrels of oil, for everyone in the world.
Stupidest. Thing. Evar. To. Say.
Right next to "Bitcoins are too expensive." Yeah, so are bars of gold, but that doesn't stop people from buying smaller amounts, or keep them from buying gold at all.
Not everyone will use it anyway, so it will just be fine. And scarcity drives the price higher so benefit for bitcoin adopters. And you do not need to have a complete bitcoin. If the price keeps on going up, a few bits will be good enough someday.
Let's presume that when 21 millions of bitcoin have been mined, Bitcoin price would be $100,000 each. So even 10bits (which is a very small amount of bitcoin – 0.00001BTC) of Bitcoin would be worth $1 at that time, hence, the 21-million coins would be enough for everyone, but we are not going to be there soon, worry not.
This is true. We, as Bitcoin users, got a long way to go before all the Bitcoins will be mined. Would be nice to teach our next generation about Bitcoin and pass it over to them.
Let's presume that when 21 millions of bitcoin have been mined, Bitcoin price would be $100,000 each. So even 10bits (which is a very small amount of bitcoin – 0.00001BTC) of Bitcoin would be worth $1 at that time, hence, the 21-million coins would be enough for everyone, but we are not going to be there soon, worry not.
it is too soon, people still don't get it. well some might but majority still don't really understand how scarce bitcoin is!
i keep telling my friends that there are very small amount of bitcoins available compared to the population of the whole world but they take it as a joke. some of them have come back recently with the rise and thought more about what i once told them but most of them are still in denial.
i keep telling my friends that there are very small amount of bitcoins available compared to the population of the whole world but they take it as a joke. some of them have come back recently with the rise and thought more about what i once told them but most of them are still in denial.
You're not wrong =)
THERE ARE NOT ENOUGH BITCOINS FOR EVERYONE !!!
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