With Bitcoin Maximum cap . Can it be used by the whole world ? - page 3.

AlexAtom

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Quote from: munareal on May 15, 2018, 03:18:12 AM

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 ?

Thats why bitcoin price is the most expensive coin in cryptocurrency.
With very limited supply, bitcoin has a high value so the peoples will buy in fractions.
therefore, the whole world still can use bitcoin, a coin that have the highest market cap because its value.

loveinberlin

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I don't think that the maximum cap will prevent bitcoin from becoming the main currency. I am sure that this figure will change when the demand will increase as they are interconnected. The bitcoin concept has appeared not now but for many people it is still very innovative. In the nearest future, this will change

yatogami

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Quote from: munareal on May 15, 2018, 03:18:12 AM

Bitcoin can not be used as money by the whole world because it has a maximum cap.

Fiat money also have a kind of a hard cap - inflation starts if there are too much pieces of paper (or plastic) that are not supported by precious metals, goods or servies.
Remember what happened to Zimbabwe? Inflation there has reached some crazy several million percent over the past years.
Still the whole world uses paper money without thinking of some "hard caps" because they regulated it in a certain way that allows all these "cents", "centimes", "kopecks" and so on.

In this way, satoshis will rule when all BTC are mined.
Let's do the simpliest calculations:
1. 21 million BTC * 100 million satoshi = 2,100,000,000,000,000 (2 QUADRILLION) satoshi .
2. Divide 2,100,000,000,000,00 satoshi to 10 billion people that might live on the Earth in like 5 years = 210,000 satoshi per person.
It means that everyone (including old men and infants - and perhaps their pets Grin

) can get their share of the overall quantity of bitcoins mined.

allthingsluxury

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BTC is insanely divisible, so yes.

eashikde

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Bitcoin to the price will fall if he does not find cooperation with the government. And to be outside the law and to conduct major transactions and operations no one will give him.

jonalva

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Yes , Bitcoin can certainly be used by the people of the whole world. The transaction system in Bitcoin is much secured and time saving. It is already being used as a method of transaction by a vast portion of population.

Kotone

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Quote from: munareal on May 15, 2018, 03:18:12 AM

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 ?

To me, the cap is a moot point and was just made to point out that even if this is a digital currency that this would still be running on limits that are alike what we deem and limit the paper currency to exist and operate. The limit is much more for its safety and more to the goal that bitcoin or the cruptocurrency market is not a currency that a person or a group of people can tinker and replicate an i inite number of cryptocurrency would have.

loismanny88

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Quote from: Jeff333 on May 17, 2018, 11:54:57 AM

It's good, that it has the maximum cap. It exaggerates its value. And it is not the reason why the world can not use it.

Yeah, I agree with you 100%.
I forgot to say that in my earlier post.
The smaller the quantity of bitcoins in circulation, the higher the value.
The cap is at 21mil but there are also many "lost" millions by the first miners when Bitcoin had 0 value. So the real quantity in circulation will be much smaller than 21mil and hence the greater value.

Jeff333

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It's good, that it has the maximum cap. It exaggerates its value. And it is not the reason why the world can not use it.

garymorgen

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change your thinking bro, don't you know that 1 BTC is 100.000.000 Satoshi. so there wont be any problem to use it world wide. 21 million bitcoins are enough.

Haliburton

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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.

cryptojenna

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Quote from: munareal on May 15, 2018, 03:18:12 AM

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 of course, as others have mentioned it can be split into its base units, Satoshis, which is a tiny amount of BTC and can be used worldwide potentially. The maximum cap doesn't matter, as long as it can be divided small enough.

loismanny88

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Of course it can.
It doesn't matter if the cap is 1bitcoin, 21 million bitcoins or gazillion of them because it's a digital currency that can have millions of decimal places. For example in the future maybe you'll only need 1BTC to be regarded as a rich man. Maybe that number will be 10/1000/1000BTC or maybe it'll be as small as 0.00001BTC and all of us will be millionaires with few people with mega-giga trillions in their pocket. Grin

Or let say your salary in Bitcoins is 10BTC/year at this time. In the future as the value of BTC goes up maybe it'll be 0.5BTC/year. The cap is not important because the math solved that problems long ago.
Even if the cap was at 1BTC that would be plenty for every single transaction on the Earth for the end of time...

JiuMiBe

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Bitcoin users and the use of Bitcoin offer a constant trend of increasing, regardless of the ups and downs, like any new technology. The latest data show that a record number of nodes can The approach has spread all over the world. despite regulations, the government crackdown since late last year. With maximum limit of Bitcoin. It can be used worldwide.

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Quote from: munareal on May 15, 2018, 03:18:12 AM

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 ?

Bitcoin has the liquidity so one bitcoin cn be divided into so many parts and it maybe enough to handle 7 Billion people of the world.But we don't have only bitcoin as the crypto currencies and other thousand more crypto currencies are also available so it can be enough to replace the fiat money system.

tegarp90

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Quote from: munareal on May 15, 2018, 03:18:12 AM

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 ?

I think if the price becomes stable like US dollars.
It would be become a world currency.
But it still need improvement on it's transaction speed, if it not improved i'm not sure it will be world currency

salinaangel

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Bitcoin is one of the best crypto currencies in the market with this we can buy anything which is known as limitless trading. Not now this money can’t be used for all over world but after few days later this opportunity will come and this online buying format is changing and nowadays everyone wants easy way and profitable way of buying system so bitcoin is here to solve this problems.

tomwell

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Bitcoin As an online installment framework, Bitcoin can positively be favored for a few reasons, for example, exchange expense waivers and opportunity from regular cash chance. While as a venture resource, Bitcoin likewise has the benefit of encountering enormous esteem development stunningly, making it named as computerized gold. In any case, shouldn't something be said about the Bitcoin work as the cash that turns into a medium of trade in an exchange? Still Bitcoin has a "solid position" that makes it better than regular monetary standards, despite the fact that the framework isn't focused under the expert of any nation

samuraijin

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of course it can be used not even bitcoin but there are other alternatives like ethereum too, so that everyone can keep their money in the wallet both in satoshi pieces to buy and pay whatever they want certainly make the bitcoin price higher so that each piece of satoshi really has value

cryptoabc

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Yes bitcoin has a lower acceptance compared to the regular currencies. The reason behind this is not that it has a limit of 21 million rather due to its volatility many are afraid to deal with it and many countries has even banned it. For these reasons it has a lower acceptance and is not being used by the whole world as a formal currency.

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