There is not enough bitcoins for everyone...

zimmah

legendary

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Quote from: seoincorporation on August 18, 2015, 11:24:16 AM

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

that's why you can divide bitcoin into satoshies

Total bitcoins: 21,000,000
Total Satoshies: 2,100,000,000,000,000
Total humans: 7,360,837,156

That means 285293 Satoshi/human

RodeoX

legendary

Activity: 3066

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The revolution will be monetized!

Solved!!!:
I have invented a workaround for this vexing problem. Using a new thing I invented, I call it a mathematical operand, I am able to "divide" bitcoin into smaller units. Ladies and gentelmen, behold the divider!

÷

BCEmporium

legendary

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Quote from: Mickeyb on August 18, 2015, 01:50:37 PM

In the future you can also change the code and allow 10, 12 and so on decimal places and give ghem names.

Would be better to increase the amount of possible bitcoins instead. It's impossible to accurately calculate decimals (float) with binary, numbers like 0.1 are impossible to represent in binary form.

batou

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Now that Bitcoin is dead it's probably time to buy

nachoig

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Merit: 250

Quote from: seoincorporation on August 18, 2015, 11:24:16 AM

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

So, buy one now, it's still too cheap. You'll be 350 times richer than the average human. Grin

Quote from: Monopoly on August 18, 2015, 10:27:30 PM

No ......
If a BTC will see price 1 million dollar ....... worth of a satoshi will be $0.01 and for a transaction we must pay 10000 satoshi that it's equal to $100 ........
So BTCs are not enough for all of people in the earth and That is a true fact ...........

Bitcoin doesn't have a fixed fee scheme.

Monopoly

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Activity: 546

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Quote from: LMGTFY on August 18, 2015, 11:44:40 AM

Quote from: seoincorporation on August 18, 2015, 11:24:16 AM

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

Total satoshi: 21 000 000 * 100 000 000 = 2 100 000 000 000 000

Total humans: 7,360,837,156

Satoshi/human: 285 293.636

By way of comparison, in 2006 there were estimated to be 16000 tonnes (=16 000 000 000 grams) of gold in the world (that's all the gold that had been mined, ever, up to that point), which would allow for 21.737 grams of gold per person.

I'm not too worried - I think this is sounding like a nice problem to have!

Edit: I misremembered by a factor of 10: it's 158 000 tonnes, not 16 000. Even so, 217.37 grams per person... I'm still happy with Bitcoin!

No ......
If a BTC will see price 1 million dollar ....... worth of a satoshi will be $0.01 and for a transaction we must pay 10000 satoshi that it's equal to $100 ........
So BTCs are not enough for all of people in the earth and That is a true fact ...........

ElectricMucus

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Marketing manager - GO MP

There aren't enough Atari ET game cartridges for everyone.

jaredboice

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Quote from: BCEmporium on August 18, 2015, 12:29:57 PM

Despite BTC presentation of 1.00000000, the dot is artificial, all operations are made in integers, meaning a single bitcoin is in fact 100,000,000 units.
To pass this to our World's currencies the more alike presentation of a bitcoin would be 100 satoshis: 1.00, meaning 1,000,000 "fiat-like" bitcoins per bitcoin.
This means in total we will have 21,000,000 x 1,000,000 = 21,000,000,000,000 "fiat-btc" x 100 satoshi (cents)

That's fine. When the same number of people who have a twitter account can afford to buy 0.015 bitcoin and I have over a Dozen Whole Bitcoin Units, I'll be renting apartments to them. That will be the difference between people who buy now and people who start using it when it blows up

randy8777

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not every person in this world is interested in bitcoin. it's purely an alternative to our currently old fashion financial system. that's it.

g-unit

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Activity: 432

Merit: 250

Quote from: LFC_Bitcoin on August 18, 2015, 02:31:31 PM

Quote from: g-unit on August 18, 2015, 01:26:05 PM

This is why everyone should be buying and holding and waiting for the future...

Some of us are & have been doing for a while now buddy Wink

That's been my plan since I got into bitcoin, buy & HODL, cross my fingers that one day bitcoin goes to the moon & I'm sitting on a gold mine. It'll be either that or I've wasted a lot of money on a load of crap Grin

You and me both. I've yet to place a sell order. Worse comes to worst we just don't make much...

RyNinDaCleM

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Legen -wait for it- dary

You can all rejoice knowing that we will NEVER run out of whole coins that can achieve the exact same function as Bitcoin.
http://mapofcoins.com/bitcoin

LFC_Bitcoin

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#1 VIP Crypto Casino

Quote from: g-unit on August 18, 2015, 01:26:05 PM

This is why everyone should be buying and holding and waiting for the future...

Some of us are & have been doing for a while now buddy Wink

That's been my plan since I got into bitcoin, buy & HODL, cross my fingers that one day bitcoin goes to the moon & I'm sitting on a gold mine. It'll be either that or I've wasted a lot of money on a load of crap Grin

seoincorporation

legendary

Activity: 3388

Merit: 3154

I have read all your replays and thx for share your point of you with me. At last you change my point of view, as you say, if wee see it like satoshis and not like bitcoin, there is some big numbers. And i'm agree, in that is why we must hold now.

Thx to all for your replays you change my point of view Grin

onewiseguy

hero member

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Quote from: seoincorporation on August 18, 2015, 11:24:16 AM

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

what makes you think every single human will want to use bitcoin? At the moment maybe less than 1 Million people own bitcoin of course bitcoin can add the the cash economy obliviously not take over it. but it will used by more any more people.

if you want to give every single person bitcoin you can give them satoshi and if and when bitcoin goes to $10,000 then they can all hold $1

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Yes there is enough. There is 21 million, then you can divide each bitcoin by 8 decimal places, so even 1 satishi can be worth $1.

In the future you can also change the code and allow 10, 12 and so on decimal places and give ghem names.

Then if this is not enough, there will be maybe side chains etc.. All in all, there are endless solutions, we just need to get Bitcoin mainstream first.

sniveling

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Quote from: Amph on August 18, 2015, 01:34:22 PM

first you should not take into account every human being, many are newborns, many other are very old people who will not care ever about bitcoin, let's assume 50% less, so 0.0056(basically 1.5 dollar) btc for every human

then you have that they do not need a whole coins if bitcoin can skyrocket to something like 10k-100k, which will be equal to everyone holding from 60 to 600 usd.

I remember having what coins were explained to me when I was very young. I hadn't got any idea what those funny metal discs were before then. We can safely discount anyone under the age of two, and probably up to most five year olds. After that age they might get their pocket money in satoshis.

rrawa

newbie

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No, you will have 21m bitcoins of bitcoinxt, and 21m more bitcoins of bitcoinxxt, 21m more of bitcoinxxxt and so on..

May be one of them even fork the max limit to 2100000m in the future. There would be more enough than what ever you need, trust me.

Amph

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Merit: 1072

first you should not take into account every human being, many are newborns, many other are very old people who will not care ever about bitcoin, let's assume 50% less, so 0.0056(basically 1.5 dollar) btc for every human

then you have that they do not need a whole coins if bitcoin can skyrocket to something like 10k-100k, which will be equal to everyone holding from 60 to 600 usd.

g-unit

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Activity: 432

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This is why everyone should be buying and holding and waiting for the future...

BCEmporium

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Activity: 1218

Merit: 1000

Despite BTC presentation of 1.00000000, the dot is artificial, all operations are made in integers, meaning a single bitcoin is in fact 100,000,000 units.
To pass this to our World's currencies the more alike presentation of a bitcoin would be 100 satoshis: 1.00, meaning 1,000,000 "fiat-like" bitcoins per bitcoin.
This means in total we will have 21,000,000 x 1,000,000 = 21,000,000,000,000 "fiat-btc" x 100 satoshi (cents)

eternalgloom

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What are you talking about? There are more than enough decimals to serve every human on this planet.

Morecoin Freeman

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Legendary trader

Quote from: Morecoin Freeman

There will not be enough coins for everyone.

LMGTFY

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Quote from: seoincorporation on August 18, 2015, 11:24:16 AM

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

Total satoshi: 21 000 000 * 100 000 000 = 2 100 000 000 000 000

Total humans: 7,360,837,156

Satoshi/human: 285 293.636

By way of comparison, in 2006 there were estimated to be 16000 tonnes (=16 000 000 000 grams) of gold in the world (that's all the gold that had been mined, ever, up to that point), which would allow for 21.737 grams of gold per person.

I'm not too worried - I think this is sounding like a nice problem to have!

Edit: I misremembered by a factor of 10: it's 158 000 tonnes, not 16 000. Even so, 217.37 grams per person... I'm still happy with Bitcoin!

seoincorporation

legendary

Activity: 3388

Merit: 3154

There is not enough bitcoins for everyone and that is why it's impossible for bitcoin to substitute the cash economy...

Just think about this:

Quote

A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files)

Total bitcoins: 21,000,000

Total humans: 7,360,837,156

That mean 0.002852 btc/human

but the total humans number is going up in the time. There is not enough btc for all.

Topic: There is not enough bitcoins for everyone... (Read 2204 times)