Topic: With Bitcoin Maximum cap . Can it be used by the whole world ? - page 2. (Read 1146 times)
Bitcoin has the cap of 21 million, but also it is divisible to the 8th decimal place. Thus, there will be no problem that bitcoin can serve the whole planet, given that its price is sufficiently high. By the way, this is one of the reasons I think the price will be high eventually
yes you really are true bitcoin will not be used for major currencies across the country that exist in this world because when bitcoin has reached the maximum limit of the total supply of bitcoin available then the price of bitcoin will not be stable.
The system of financial trust based on bitcoin will break down regional barriers so that all human beings can use safe, fast and reliable currencies. Hayek said that money is the greatest freedom that man has ever invented
maybe it could be, because now there are many who use bitcoin, and I hope bitcoin can be a worldwide currency, because the bitcoin can help everyone.
Even if the supply is capped at 21 million coins, Bitcoin was made divisible by design. This is something that cannot be done with regular fiat money, as it's only divisible up to 2 decimal places. Bitcoin is divisible by 8 decimal places (correct me if I'm wrong) allowing it to be transferred in minuscule amounts.
In the future, if fees decline in the Bitcoin network, then payments in Satoshis (the smallest form of Bitcoin) would be practical once more. With this, people can send 0.00000001 BTC easily without hassles. Depending on BTC's price in the future, that amount could be worth $1 or so. Therefore, if you divide 21 million Bitcoins into 0.00000001 BTC (which equals 1 satoshi), then the real cap of Bitcoins would be 2,100,000,000,000,000 coins in existence. That's quite enough for anyone in the world.
In the future, if fees decline in the Bitcoin network, then payments in Satoshis (the smallest form of Bitcoin) would be practical once more. With this, people can send 0.00000001 BTC easily without hassles. Depending on BTC's price in the future, that amount could be worth $1 or so. Therefore, if you divide 21 million Bitcoins into 0.00000001 BTC (which equals 1 satoshi), then the real cap of Bitcoins would be 2,100,000,000,000,000 coins in existence. That's quite enough for anyone in the world.
You forgot about something.
There are currently millions of Satashi's coins that have never been touched and then you have loads of coins that were send to burn addresses. There are also people who has lost their paper wallets or hard drives and memory sticks with bitcoins on it.
At the rate that this is happening the total amount will be significantly less and we would come to a point where a decision will have to be made to divide a Satoshi in smaller units.
The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?
Yes i think it is enough. but peoples will use it in very small fractions because the price is very high.
i dont know why the developer of bitcoin decide 21 mil for its supply. bitcoin has the most volume on the crypto market despite the small supply.
Yes, considering the global number of population, 1 Bitcoin for everyone is not possible but that's why the creator has introduced divisibility. As we know 'A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction.' and that is sufficient for everyone across the globe and the price will increase as per the growth in the demand so one should never worry about max capital. In fact, that is helping Bitcoin to sustain and increase its value.
Satoshi Nakamoto was a pure genius since he not only created a digital currency with limited supply, but also with the ability to expand itself into many units if it were to be necessary. As such, Bitcoin can be used for nearly anything we could think of since there will be plenty of coins for everyone to enjoy.
No matter if Bitcoin's value would be too expensive in the future, it can be divided into fractions of a whole Bitcoin, to allow anyone to use it. This is a huge benefit if compared against fiat currency, as different divisions of the cryptocurrency could further expand its use cases such as micropayments, colored coins, and more.
Therefore, I think that as Bitcoin fees become cheaper with new scalability upgrades like SegWit and Lightning Network, people can transact with even 1 satoshi in the future. So, even holding a single Bitcoin could give you 10,000,000 satoshi (that's ten million satoshis) which can be worth a lot of money by then.
I think it is being used all over the world, and many dark networks have used bitcoins for many years. There is no need to worry about its total size. It can be divided into very small units, and 1 bitcoins can be divided into many Satoshi. With the decline of bitcoin volatility, it will be adopted by more countries and companies.
I like to think about 1 satoshi value as 1 cent in the future. In that way we have 21*10^6 bitcoins, each comprising of 10^8 satoshis (=cents) which makes 21*10^14 cents, same as 21*10^12 dollars. Obviously that amount of dollars can be used by the whole population.
According to my opinion the answer is can, because the maximum amount of Bitcoin as we already know is very much that is 21million ... And of course all countries must be able to use it, but it must be in what easy way they will have it ...
Bitcoin to me is a digital currency which can be used as store of value , and on the 21mln total supply and if it can be use by whole world , yes it can cos people buy and sell Bitcoin everyday and more demand makes it grow in value which will makes people to only own Satoshi in future but those that own a Bitcoin then will be in money and more people will be looking to have it while it value will keep increasing .
Yes, considering the global number of population, 1 Bitcoin for everyone is not possible but that's why the creator has introduced divisibility. As we know 'A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction.' and that is sufficient for everyone across the globe and the price will increase as per the growth in the demand so one should never worry about max capital. In fact, that is helping Bitcoin to sustain and increase its value.
Bitcoin's maximum cap is only 20 million but you can break it down to smaller value. You can use Satoshi instead of a whole Bitcoin. Aside from that, there are now lots of altcoins which can use as Bitcoin alternative.
Correct! As Bitcoin is divisible by design, there's plenty of coins available for all the inhabitants of the world. The smallest unit of Bitcoin is a satoshi, which is a very diminutive form of a whole Bitcoin. Therefore, as I said previously, you can calculate how many Bitcoins would be available by just dividing 1 satoshi into the total supply of 21 million. This in effect gives you a result of a quadruple amount of Bitcoins in existence. So, even if Bitcoin's value rises to astronomical levels, it can be divided into smaller amounts for anyone to enjoy.
And, there's always the choice of altcoins which opens up the level of accessibility from everyday people into cryptocurrencies. In the end, there will be plenty amount of Bitcoins for everyone, but not everyone would be able to use the digital currency, as it is not scalable yet. But, once it does, Bitcoin will become a truly worldwide phenomenon.
The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?
it will enough for whole world. 21 million is just a number. if more peoples using bitcoin and the supply is not increasing anymore,
then the value will increased instead. it is supply and demand principal. current circulation is 17mil and will be more added by mining.
The limited number of bitcoins of 21 million is not related to its possibility or impossibility to use it as a world currency. The impossibility of such use of bitcoin is associated with its high volatility. It is the instability of bitcoin that prevents its use as a world currency. If the price of bitcoin is constantly changing, the economy of the country will not be able to work normally. Therefore, bitcoin as money can be used only along with the usual national money of the state.
You have a point to an extent.
Crypto is a very new type of currency.
15yrs is nothing compared to few thousands of years that paper money is being used, or even gold.
So BTC will stabilize in the future, maybe in 10, 20 or 50 years but that won't be enough for it to become a single world currency.
We don't have yet the single world currency because it would need one central bank that controls it. Every nation has it's own so it can control the economy and inflation with it.
In EU they have euro but every country has it's own fiscal policy and that's the reason that euro isn't doing very well.
Who would control, and how, the bank of BTC?
And why would we even allow that?
You said it, the BTC is probably going to live alongside national money and that's it.
But it can, and will be, used by the whole world because there is not obstacle for that.
I also have same kind of doubt like you. But I hope that it has the chance to be used as common currency in the world. 1 btc can be divided into 100,000 satoshi which is a big number. So it might not be a problem in future.
The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?
The limited number of bitcoins of 21 million is not related to its possibility or impossibility to use it as a world currency. The impossibility of such use of bitcoin is associated with its high volatility. It is the instability of bitcoin that prevents its use as a world currency. If the price of bitcoin is constantly changing, the economy of the country will not be able to work normally. Therefore, bitcoin as money can be used only along with the usual national money of the state. 
The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?
When time comes that whole world accept bitcoin,this will be the precious of them all,meaning people dont need just to use bitcoin because thousands of altcoins if not millions are in circulation to be used.depending on their value,thats why if you still have a chance you must gather how many as you can hold so in future you will be ready and relax with your bitcoin on hand while others are begging to have one The concept of bitcoin is still new to people. It's been few years that bitcoin has invented and the demand is getting higher day by day. But, when it was created the demand was very low. That's why the maximum cap is being limited to 21m bitcoins. So, as the demand is increasing, this maximum number will also increased in the future. So, don't worry. Satoshi has a better plan!
The hard cap will not be increased in the future and it will be 21 million bitcoins centuries from now, a single bitcoin can be divisible to eight decimal places and we have more bitcoins for the entire world, it is not necessary to hold an entire bitcoin to trade, even when the price of bitcoin reaches a million dollars you are able to trade as usual if the scaling is done correctly transaction charges wont eat your profits.
Bitcoin's maximum cap is only 20 million but you can break it down to smaller value. You can use Satoshi instead of a whole Bitcoin. Aside from that, there are now lots of altcoins which can use as Bitcoin alternative.
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