What if all nations of the world started to use bitcoin - page 9.

stergium

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

If every country starts to use bitcoin,its price would go very high as its supply is limited.Bitcoin earnings would be taxed.We would be able to buy all products in markets using bitcoins. Many nations would start storing bitcoins as reserve currency instead of american dollars.

to me i think if everyone will start using bitcoin i think it will be in favour of bitcoin as bitcoin will become the main currency for everyone and the whole world will unite with one payment system and which will be really a good news for all the world.

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Quote from: Vikingr on April 16, 2017, 05:15:39 PM

Quote from: meliodas on April 16, 2017, 02:37:33 PM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

I think it will cause a huge pump in bitcoin price and it would be great for all of us,
but I hope that Blockchain could handle it .

The hope is definite as the developers will also increase if the users of bitcoin will increase and the contribution of all of its users will bring the strength in the technology of blockchain and sooner all of the issues if appear will be solved by the supporters of bitcoin.

If that happen then the price of bitcoin will be reached to a highest value and then people who will have invested will be the lucky people because then will be then the most rish people of the world because of the profit they get with their stored bitcoin.

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Quote from: wahb on April 16, 2017, 10:36:47 AM

Quote from: jovs on April 16, 2017, 08:28:43 AM

Quote from: Yakamoto on March 31, 2017, 10:41:33 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

It all depends on what it is that they start to actually use Bitcoin for. For example, if every country started to use Bitcoin as a means to store value (in the same way gold is viewed now) then chances are the price would rise decently, but not dramatically.

If all countries started to use Bitcoin as their primary currency, then the price would become irrelevant. Bitcoin would become -the- currency, and everything would just be based around a quantity of Bitcoin. For example, in this scenario, a house might end up being 0.00004 BTC, since there's a 21m cap and everywhere uses it, meaning a few trillion (if now quadrillion) dollars of value now have to be contained in 21m highly divisible coins.

The blockchain would likely not operate very well in the later scenario.

All nation of the world has the capability to used bitcoin because we all know that bitcoin is internet base meaning it is moving its transaction through the power of internet. And we currently living in the 21st century that is technology is defined and developing together with the years. But i agree the effect of it depends on what usage will be going all over the nation. It may moved and changed the demand of it making its price on either to increased or dump. But if the people choose to hold and buy at a specific rate it may lead to a good movement on the price of bitcoin.

i think a time will come when all the nations of the world will start using bitcoin. i am hopeful that a time will come when the facilities of bitcoin will be available everywhere in the world we will be using bitcoin for shopping in our local shops.

yes in present time the users of bitcoin are not enough because still most of the people do not have knowledge but now as the users of bitcoin are increasing therefore we are hopeful that in future all the people of the world will be using bitcoin.

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Quote from: meliodas on April 16, 2017, 02:37:33 PM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

I think it will cause a huge pump in bitcoin price and it would be great for all of us,
but I hope that Blockchain could handle it .

The hope is definite as the developers will also increase if the users of bitcoin will increase and the contribution of all of its users will bring the strength in the technology of blockchain and sooner all of the issues if appear will be solved by the supporters of bitcoin.

KingdomHearts

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Quote from: wahb on April 16, 2017, 10:36:47 AM

Quote from: jovs on April 16, 2017, 08:28:43 AM

Quote from: Yakamoto on March 31, 2017, 10:41:33 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

It all depends on what it is that they start to actually use Bitcoin for. For example, if every country started to use Bitcoin as a means to store value (in the same way gold is viewed now) then chances are the price would rise decently, but not dramatically.

If all countries started to use Bitcoin as their primary currency, then the price would become irrelevant. Bitcoin would become -the- currency, and everything would just be based around a quantity of Bitcoin. For example, in this scenario, a house might end up being 0.00004 BTC, since there's a 21m cap and everywhere uses it, meaning a few trillion (if now quadrillion) dollars of value now have to be contained in 21m highly divisible coins.

The blockchain would likely not operate very well in the later scenario.

All nation of the world has the capability to used bitcoin because we all know that bitcoin is internet base meaning it is moving its transaction through the power of internet. And we currently living in the 21st century that is technology is defined and developing together with the years. But i agree the effect of it depends on what usage will be going all over the nation. It may moved and changed the demand of it making its price on either to increased or dump. But if the people choose to hold and buy at a specific rate it may lead to a good movement on the price of bitcoin.

i think a time will come when all the nations of the world will start using bitcoin. i am hopeful that a time will come when the facilities of bitcoin will be available everywhere in the world we will be using bitcoin for shopping in our local shops.

i agree with you that one day all world will start to use bitcoin in the future because everyone in the favor of bitcoin and a lot of people adopting bitcoin for the future.

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

I think it will cause a huge pump in bitcoin price and it would be great for all of us,
but I hope that Blockchain could handle it .

BitcoinHeroes

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in basic terms, one of the great results would be that we would likely receive a little more financial freedom with global bitcoin acceptance and legalization. finances would likely be stronger, as one bitcoin, despite several drops is still worth over $1200 in USD alone. we would also likely witness more ease in the way we use money and how we work in finance in general. with the entire world using the same kind of currency, international business overseas would probably become much simpler than it is right now.

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Quote from: amacar2 on April 16, 2017, 01:58:28 PM

Yes it can because even 1 satoshi can be transferred which can even be divided further more with soft fork if needed. Bitcoin have supply of 21 million but its true supply is 21 million x 10^8 times.

However segwit and LN need to be activated to handle big amount of transactions per second if not bitcoin can't be used for fast transactions like right now.

Can you explain me, how is bitcoin's real supply 21 million x 10^8? What do you mean?
Now what's about thread, to my mind this process is already started because countries accept bitcoins without any problem but of course there is one problem, exchangers are mostly us and china based, so buying bitcoin isn't beneficial for many people because so many currency converts and fees.

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Yes it can because even 1 satoshi can be transferred which can even be divided further more with soft fork if needed. Bitcoin have supply of 21 million but its true supply is 21 million x 10^8 times.

However segwit and LN need to be activated to handle big amount of transactions per second if not bitcoin can't be used for fast transactions like right now.

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We would have scaling problems if it would happen overnight. Also, we would be having problems to divide bitcoins into smaller units and we might even need to look into sub-units for bitcoin. Take also into consideration the lost coins that we wouldn't be able to recover since their private keys are gone. It would be a catastrophe to say the least and wouldn't be feasible for long.

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If every single nation in the world would use Bitcoins then Bitcoin would become unique world currency. But that is not very likely to happen because not all people in the world have equal opportunities to access the Bitcoin and use it. That would probably also influence the price that would rise extremly but like I've said this is not likely to happen.

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Quote from: jovs on April 16, 2017, 08:28:43 AM

Quote from: Yakamoto on March 31, 2017, 10:41:33 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

It all depends on what it is that they start to actually use Bitcoin for. For example, if every country started to use Bitcoin as a means to store value (in the same way gold is viewed now) then chances are the price would rise decently, but not dramatically.

If all countries started to use Bitcoin as their primary currency, then the price would become irrelevant. Bitcoin would become -the- currency, and everything would just be based around a quantity of Bitcoin. For example, in this scenario, a house might end up being 0.00004 BTC, since there's a 21m cap and everywhere uses it, meaning a few trillion (if now quadrillion) dollars of value now have to be contained in 21m highly divisible coins.

The blockchain would likely not operate very well in the later scenario.

All nation of the world has the capability to used bitcoin because we all know that bitcoin is internet base meaning it is moving its transaction through the power of internet. And we currently living in the 21st century that is technology is defined and developing together with the years. But i agree the effect of it depends on what usage will be going all over the nation. It may moved and changed the demand of it making its price on either to increased or dump. But if the people choose to hold and buy at a specific rate it may lead to a good movement on the price of bitcoin.

i think a time will come when all the nations of the world will start using bitcoin. i am hopeful that a time will come when the facilities of bitcoin will be available everywhere in the world we will be using bitcoin for shopping in our local shops.

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Quote from: Yakamoto on March 31, 2017, 10:41:33 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

It all depends on what it is that they start to actually use Bitcoin for. For example, if every country started to use Bitcoin as a means to store value (in the same way gold is viewed now) then chances are the price would rise decently, but not dramatically.

If all countries started to use Bitcoin as their primary currency, then the price would become irrelevant. Bitcoin would become -the- currency, and everything would just be based around a quantity of Bitcoin. For example, in this scenario, a house might end up being 0.00004 BTC, since there's a 21m cap and everywhere uses it, meaning a few trillion (if now quadrillion) dollars of value now have to be contained in 21m highly divisible coins.

The blockchain would likely not operate very well in the later scenario.

All nation of the world has the capability to used bitcoin because we all know that bitcoin is internet base meaning it is moving its transaction through the power of internet. And we currently living in the 21st century that is technology is defined and developing together with the years. But i agree the effect of it depends on what usage will be going all over the nation. It may moved and changed the demand of it making its price on either to increased or dump. But if the people choose to hold and buy at a specific rate it may lead to a good movement on the price of bitcoin.

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Quote from: SamMurphy on April 15, 2017, 01:28:32 PM

What would be a beginning for a better world. The economy would be more stable and the price of BTC would be too. And it wouldn't be easy for someone to steal money because the system would be way more safe. And everyone will know that there are only 21M btc to use, and this is a way for nobody to ''make'' more money.

All those are pipe dreams and most unlikely to see the light of any day, because at no time would all nations take to the use of Bitcoin as that would mean giving a nod to a technical knockout to their local currencies! What can be expected is that in almost all countries, we are likely to find people using Bitcoin regardless the stand of their governments.

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

I don't know the possibility but if ever that happen,there will be a problem in transactions hundred thousands are going to happen in a span of one minute so if ever happen the developer should finally resolve this issue that keeps bitcoin from developing further.

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Quote from: Wowcoin on April 16, 2017, 04:38:36 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

Thats really great if every country started to use bitcoin its very easy to do transfer money in othef country using bitcoin. We don't need to go fall in line to pay your bill in just one click to your bitcoin Wallet you can pay all your bill. Hope it will be happen.

However, it is good to hear right buddy. If you able to use the bitcoin in paying for bills, gasoline, electricity and other utilities means then the bitcoin is centralized and we can use bitcoin are everywhere. From this year starting there is lot of news about bitcoin and block chain technology adoption.
I hope bitcoin to be centralized and price more than 10000$ very soon.

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Quote from: VTCutch on April 16, 2017, 06:05:47 AM

Quote from: jc89 on April 16, 2017, 05:58:04 AM

Quote from: DoublerHunter on April 16, 2017, 01:27:54 AM

Quote from: wahb on April 15, 2017, 06:06:56 PM

Quote from: SamMurphy on April 15, 2017, 01:28:32 PM

What would be a beginning for a better world. The economy would be more stable and the price of BTC would be too. And it wouldn't be easy for someone to steal money because the system would be way more safe. And everyone will know that there are only 21M btc to use, and this is a way for nobody to ''make'' more money.

to me i think that is the future of bitcoin. although it will take such long time as still only 1 % people of the world are using bitcoin but we can see that the users of bitcoin are continuously increasing.

The population of bitcoin users are now keep increasing, you are right that 1% of the people in the world or more use bitcoin as of now and it will continue to rise if we will just keep being active in this forum and any bitcoin community site and also keep promoting bitcoin until its popularity will be enough for bitcoin to stand alone and keep growing.

Seriously? 1% of the total population in the world is using bitcoin? The total number of bitcoin users is so much far from the 1% you are saying. What do you think is the 1% of the world's population? There are more than 7 Billion people in this world and the 1% of 7Billion is 70 million. The number of bitcoin user is not even near 10 million so from where did you get that statistics of yours?

Yes. Users bitcoin is much more. For all of its existence, it has gained popularity with many people.

I think you clearly did not understand that discussion. jc89 there claims that the number of bitcoin users is less than 1% of the total population and now you claim that the number of bitcoin users is more than that. And your reply was even out of the discussion. What gives man?

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Quote from: jc89 on April 16, 2017, 05:58:04 AM

Quote from: DoublerHunter on April 16, 2017, 01:27:54 AM

Quote from: wahb on April 15, 2017, 06:06:56 PM

Quote from: SamMurphy on April 15, 2017, 01:28:32 PM

What would be a beginning for a better world. The economy would be more stable and the price of BTC would be too. And it wouldn't be easy for someone to steal money because the system would be way more safe. And everyone will know that there are only 21M btc to use, and this is a way for nobody to ''make'' more money.

to me i think that is the future of bitcoin. although it will take such long time as still only 1 % people of the world are using bitcoin but we can see that the users of bitcoin are continuously increasing.

The population of bitcoin users are now keep increasing, you are right that 1% of the people in the world or more use bitcoin as of now and it will continue to rise if we will just keep being active in this forum and any bitcoin community site and also keep promoting bitcoin until its popularity will be enough for bitcoin to stand alone and keep growing.

Seriously? 1% of the total population in the world is using bitcoin? The total number of bitcoin users is so much far from the 1% you are saying. What do you think is the 1% of the world's population? There are more than 7 Billion people in this world and the 1% of 7Billion is 70 million. The number of bitcoin user is not even near 10 million so from where did you get that statistics of yours?

Yes. Users bitcoin is much more. For all of its existence, it has gained popularity with many people.

jc89

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Quote from: DoublerHunter on April 16, 2017, 01:27:54 AM

Quote from: wahb on April 15, 2017, 06:06:56 PM

Quote from: SamMurphy on April 15, 2017, 01:28:32 PM

What would be a beginning for a better world. The economy would be more stable and the price of BTC would be too. And it wouldn't be easy for someone to steal money because the system would be way more safe. And everyone will know that there are only 21M btc to use, and this is a way for nobody to ''make'' more money.

to me i think that is the future of bitcoin. although it will take such long time as still only 1 % people of the world are using bitcoin but we can see that the users of bitcoin are continuously increasing.

The population of bitcoin users are now keep increasing, you are right that 1% of the people in the world or more use bitcoin as of now and it will continue to rise if we will just keep being active in this forum and any bitcoin community site and also keep promoting bitcoin until its popularity will be enough for bitcoin to stand alone and keep growing.

Seriously? 1% of the total population in the world is using bitcoin? The total number of bitcoin users is so much far from the 1% you are saying. What do you think is the 1% of the world's population? There are more than 7 Billion people in this world and the 1% of 7Billion is 70 million. The number of bitcoin user is not even near 10 million so from where did you get that statistics of yours?

Wowcoin

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

Thats really great if every country started to use bitcoin its very easy to do transfer money in othef country using bitcoin. We don't need to go fall in line to pay your bill in just one click to your bitcoin Wallet you can pay all your bill. Hope it will be happen.

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