Bitcoin Forum

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 would be great since it is the one that we are all waiting for to happen, but it will take some time for this thing to be true, as of now, the Government is not yet accepting bitcoin, because of their own reason, and we don't know what is it. Let's just hope that bitcoin would be like the way we think in the near future.

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.

No. Catastrophic issues. The blockchain cannot scale to such a degree overnight. People (especially older folks) are not educated about Bitcoin and have no idea how to use it. That would cause MASSIVE confusion.
Additionally, there are enough Bitcoins, but not enough subdigits. The satoshi would be of incredibly high value, so we'd need digits below that. Fortunately those are easy to add, but we don't have them.

Bitcoin might be used by every country at some point in the far future. At that point it will be ready as well.

It will be very good for the BTC if every country will start using it. Its value will skyrocket because of the limited supply of it. What concerns me is the capacity of the blockchain to handle the transactions of every user. I thinks the current state of blockchain will not be able to handle it and will produce serious problems in the network. The technology for blockchain should improve and progress for it to handle huge amount of transactions.

Blockchain capacity may be a concern to accommodate total world population. But I believe Xapo kind of off-chain transaction based methodologies could be a solution here.

We never worry about supply of bitcoin for total world population of ~700 millions. The infinitely divisible characteristics of electronic format will support to have any number of basic units under bitcoin ecosystem. (When we are having big value for bitcoins, we will have units smaller than satoshi also).

The basic and immediate effect we could expect, must be the price appreciation. But slow progress in adopting bitcoins would be the feasible way of making countries to use bitcoins. Because no one can be sure about when a bootle-neck may occur.

Then it will mean all the challenges against bitcoin would have been one without any form of reservation in addition to the freedom it will proffers to our new way of life which is something white a number of us will be glad its eventually happening and I won't have to be be worried about the bottlenecks in exchanging my bitcoin into fiat in other to spend even the lowest amount...

no it can not the fee would increase so much that bitcoin would be unusable for the people that can't pay high fee, and you have that bitcoin is also scarse, and those people are in this case obliged to by mroe and mroe bitcoin just to pay the fee, they must resolve that bitcoin don't scale, otherwise bitcoin will remain a thing for 1 millions users

there is no bitcoin for every one so forget this fact and stop dreaming.

1. Current Bitcoin can't handle total adoption, we are limited to 7tx per second due to 1 MB block restriction.
2. 'Panbitcoin' is Sci-fi theory anyway, bitcoin is not regulated (man reason behind continuous ETF disapproval by SEC) and probably can't be stable enough.
3. Long confirmation times and high  fees are not helping Bitcoin to become everyday standard payment method.

Well, most countries with significant economies already do use Bitcoin.


But if it was more than 1% of commerce? (of which it's less than 1% now)


More capacity. We need more capacity for transactions.


And no matter what blocksize maniacs wish you to believe, blocksize increase can't meet worldwide mainstream demand. Even doubling or quadrupling the blocksize is at the limits of what the whole world could handle, Bitcoin would cease to be decentralised if we tried to use blocksize to meet the needs of billions instead of the millions of users that exist today.


So really, we need scaling solutions, not blocksize increases. Making more efficient use of blockspace is one route (with many different ways to get there), but these are often hardforks, and so need alot of user support. 2nd layer protocols are much more suitable to scaling up massively, but Lightning (current major proposal for a 2nd layer) does come with drawbacks, in that it's not as trustless as on-chain transactions are now (but there are ways to mitigate that risk to arguably zero).

The currently Blockchain doesn't have enough capacity to support many transactions at same time, what means it doesn't support many users at same time. So if a considerable percentage of all world countries population start using BTCs it won't be sustainable and confortable for all. Many delays, high fees and probably many transactions being canceled.

Also, it would make the government focus their attention in Crypto Currency world, what isn't good...

More users mean more challenges, more capacity. whole world using the same kind of currency, then could be facing problem like blockchain capacity, transaction issue, etc. It would be great since it is done, maybe only in a dream not in the real world. Therefore It's pretty unexpected all nations of the world to adopt bitcoin as official currency.

If such a situation occurs,then bitcoin price will go high in rocket speed since there would be a great demand but only a limited supply of coins.Bitcoin income would be taxed.Bitcoin would be used in shops for buying daily needs.Already,there is delay for transactions due to limited block size and if every country uses bitcoins,then there would be more delays in transactions and transaction fees would rise much higher.

Actually that is not true, many people think that the fact that bitcoin is limited to a certain supply which is 21 million btc makes it not going to be able to cover all the needs of the whole world, but as the time goes by and people start using it more and more, its price will get higher and higher, which means we will start using fraction of the bitcoin to buy things, if today we spend 0.01 btc in a couple of years we will start using 0.0001 btc to buy the same thing.

If that would happen the Bitcoin price will increase dramatically.
The current supply of bitcoin is 21 million if your planning to give 1 bitcoin to every single person in the world of course it will not be enough.
But if you divide 1 bitcoin into smaller portions like Satoshi i think most likely it is enough to cover every single person in the whole world.

It would be very difficult for a government to adopt bitcoin as its currency but it could issue its own crypto currency and overnight replace its own fiat currency by it at a 1:1 ratio having primed the crypto currency before hand. The government would lose nearly all control and have practically no monetary policy and little ability to regulate except for the use of pre primed denomination of "coinx". I personally think that public finances would sober up and that a realistic economy would ensue, stability would be a great advantage and wealth would not be made through fractional reserve banking and usury both which add little to a society.

If all nations of the world started to use bitcoin than that will be evolution, a great evolution!! But the fact is its not possible at any more. Yes, bitcoins demand is increasing and in future, it will be more demandable but its impossible that every country will be started to use bitcoin.
Its like a dream!

Japan already recognize bitcoin as legal tender, are you still dreaming? All indeed originated from trading volume, then start referring to implement government investment with good regulation, after it spread to their focus on retail and public services. Many different views of hardfork, but do not break the chain of attention to country development through bitcoin.

If that happened then it will be the best thing that will happen in the bitcoin / crypto currency world. The current supply of bitcoin will be distributed and divided and every quantity of Satoshi will count and will be valuable. For sure the price of bitcoin when that time happens will probably reach 5 up to 6 digits.

It would be a dream for some while nightmare for some countries as the cheapest electric ones shall rule the market Share. It would create many issues and most of all tax issue's. The chances are less but Japan Bitcoin law is in action. Let's hope more of it inspires other countries to bring Bitcoin in the system. Wait and watch I would say, we can't even be sure if it will ever come.

This of course will make bitcoin price increases. we can see the movement of the growing number of transactions. Imagine going to the accumulation of the transaction, I am concerned if the process bitcoin delivery time will be slower.

If every countries starts use bitcoin will be impact on price of bitcoin goes up and there are other problem as you said block size, but if all of countries use bitcoin all of comunity bitcoin will make solution for this problem, they will not debate any more like now. They will be focus search the solution together, actually I am waiting this moment all of countries adopt bitcoin.

 If all countries in the world started to use bitcoin then the problem on supply will be covered up by the increasing value. And the problem on mining capacity will no longer be a problem since bitcoin mining farms will appear throughout the world and in large numbers thus even if the blocksize is small it will be compensated by the number of miners and their hashpower.

Well that is not going to happen because the bitcoin supply is limited which means if more popele try to mine and get as much bitcoin as they can means that will be no more bitcoin to cover the needs of the world and this leads to bitcoin becoming a rare thing that not everyone got and its price becomes more and more higher as time goes on.

I agree with you. If all nations take bitcoin, then the price will be much higher. At the disposal of each person there will be only a few satoshs. And who will have the whole bitcoin, they will become real rich people

Obviously, Bitcoin's price would skyrocket 8)

But since nobody knows who the hell Satoshi Nakamoto is and how many bitcoins he holds, no country will acknowledge bitcoin officially. Countries have their centralized FIAT currency so they can have control over their currencies by the central banks.

They won't sign up for any shit which they won't be able to control.

if every country started to use bitcoin, be sure the current price won't be the same, as well the trading volume  ;)

For now, I think developers should find a way to make transactions faster.
We are not even in the 20% of the world's population and yet the traffic at the transactions is so heavy. What more if you put the whole world into using it. That would chaos and they wont agree with that kind of service.  I am thinking more about all the bitcoin have been mined and that is where the start of project developments.

I think most of the countries have already started using Bitcoins. You only need the internet to use Bitcoin, that's all. Even if you don't have a local exchange, you can always buy stuff over the internet and get them shipped to your country.  ;D

If this would happen there are many possibilities and things may happen.One is bitcoin price will decrease due to increase in supply and small demand on buying.Second is bitcoin will be one of the fiat or real currency in the world if all countries will adopt and use bit coins

Thanks for the response guys so therefore we can conclude that Bitcoin can handle even the whole number of people of the world use bitcoin. And the price of Bitcoin will either increase or decrease?

If all the nations in the world start using bitcoins then there will be no government or banks at all .
Well this is never gonna happen as government will never want to lose their power over their people.

Adoption will not happen overnight.  Definitely Bitcoin will adapt whenever there is some need on improvement, it may take some time due to the need of consensus but eventually it will upgrade.  About the supply of bitcoin, definitely it can handle every bitcoin user.  It is only a code if there is a need to divide satoshi then it can be done by the developer.  Though one thing for sure Bitcoin price will really go up.

It will never happen, forget about it.
Bitcoin can't be regulated by the governments and it's only alternative, virtual currency.
In the world, people have possibility to use many different currencies, and each currency have certain purpose or role.
You will receive salary in local currency and spend  it for mortgage, daily expenses etc.
If you go abroad, you will need international currency as US dollar, Euro, Swiss Franks etc.
Bitcoin will always remain alternative way for online and offline payments, decentralized and without government or bank control.

As stated such situation never prevail as well governments won't support it. If it happens entire population cannot afford bitcoin because even a single Satoshi will be more precious. The people who have a single bitcoin doesn't need any more earnings for a luxury living.

I will doubt it will be enough, when people spend it everyday then it maybe enough coin for everyone, but when a lot of people keep it then it can be problem, the price will be very unstable if all nation and everyone used it, it will be great if some people used bitcoin and alt coin, it will balance the price and we will have a backup coin

Your point of view about the possibility is quite logical indeed. The whole nation can used bitcoin because we are living of the day whose technology is widely breached all the possibilities in the world especially the developing country. But there is many way to used bitcoin. If the demand increased there is a possibility that the price may increased or dump on the same way people always uses it on a daily basis. But if they used it as an investment and do a proper hold and usage a good future may take place through bitcoin.

I think with a limited number of bitcoin when it is used in many countries it will make bitcoin prices keep going up. And it is profitable for those who buy bitcoin today. But later in the end will be like currency in general bitcoin prices will be stable, and it certainly makes me as trader cant get big profits. And in the end bitcoin will only be used to pay or buy something, such as money in general. Thank you

The flexibility of bitcoin amount makes bitcoin can be torn apart without limits, and if many people are using bitcoin and make the demands increase, the result is the price pumping and the increasing value of each satoshis, I guess that if every country with all their citizens starting to use bitcoin, satoshi unit will be more often be used to determine how much bitcoin they are currently owning rather than BTC

I really think that this will happen in the future maybe all the people in the world will use bitcoin as there main currency all over the globe..,
When that happen there will be no physical money like what we are using today and it is all just bitcoin a virtual currency which you can just store in your bitcoin wallet maybe in your phone or in your hardware , or computer ..,Or maybe someday your bitcoin wallet is like a chips implanted in your body if this will happen the bitcoin currency will be so high and but it will be easier for us to earn bitcoins in our every day like working in office and just like they will pay you using bitcoin.

If every country started to use bitcoins,it means income got from bitcoins will be taxed.Since bitcoin supply is limited,the demand would be high if all countries use bitcoins,the price will skyrocket.We would be able to buy a cup of coffee using bitcoins.Bitcoin would replace US Dollars as global reserve currency.

although that is what to be happen in future, but still i think it will take some more time. as in present time the users of bitcoin are very few and i think we can expect such kind of situation after some decades, as the users of bitcoin are continuously increasing.

If people from all over the world started using bitcoin the government wont necessarily start charging taxes for the coins,it will be a step process which will take some time but one thing is sure,with more users there will be a huge surge in price and that bubble wont break for a very long time.what ever it may be bitcoin wont replace its local currency.

People all around the world are already using bitcoin.

So I think what you meant is that what if the governments in every single country in the world decided that they should legalise the usage of bitcoin and therefore everyone in their country starts using it.

I would say that bitcoin is definitely up for the challenge, because it was designed to be a global currency in the first place. However therw are still scalability issues to be solved before worldwide adoption can actually begin.

If all the nations will started to use bitcoin then it would be great because it will be a proof that bitcoin network is very strong and stable and bitcoin already built a huge reputation in the world because the nations already accepted and use bitcoin. For sure, bitcoin will be on its highest peak in the situation and a lot of bitcoin investors and users will be very happy and rich.

not it can not, that's why they are forcing segwit, bitcoin can't handle many transactions(more than 3 on average) per second right now, also fee would be increadible high if all toe world begin to sue bitcoin

although if people are intelligent they could force the miners to accept lower fee, by paying less and less and waiting, more, this will in the end force the miners to accept on average lower fee

Yes, people from around the globe are using bitcoin already, but the question was if all country. It is a fact that not all country are using bitcoin as of now but what if that scenario happens. It seems that you did not quite comprehend what was asked.

OP, blockchain can handle every user, that is the main purpose and the design of blockchain itself but the question is how much time it would take in order for blockchain to accommodate each user, I think it will take forever. A further optimization must be done so that it can accommodate such number of users. Today that the number of user is so small, compared to the total number of people in this world, blockchain have some issues upon accommodating every transaction what more if all country uses bitcoin. Blockchain have many work to do to address every user.

If I understand the blockchain correctly we don’t have the technological knowledge needed for everyone to start using bitcoin for everything. Much more computers would be needed to compute transactions or at least computers need to become like 10 times faster to cope with the extravagent amounts of transactions that will be needed. But maybe if that happens governments will have dedicated transaction processors making it possible.

If it happened in a very small time frame, Bitcoin could not stand the challenge, but if it would go bigger and bigger in a bigger time frame, it could be prepared for world usage. The price will be very high, we would maybe even need smaller digits than satoshis and confirmations would be much faster because not much people would use it if it was slow like right now.

At Bitcoin's current state, no it is not able to handle every person in the world. Even now with a minute number of users, we're at capacity and backlogging 6 hours or more for 1 confirmation.

But with new implementations along the way, I'm sure we could achieve something close. One possibility could be that Bitcoin is used as a store of value and not used for daily transactions, while an alternative cryptocurrency could fill that role.

As the users quoted we get accessibility similar to USD. Same time it is not a possible one, because when every country starts bitcoin as the major currency, it is same as the single currency system which affects the development of the nations. Also the value will peak, even a Satoshi will be worth more to afford expensive stuffs.

It will be a good thing actually, with more ways to use bitcoin.

But it may also come with more rules and regulations

It would be great if all the people in all the nations start use Bitcoin, it will increase the accessibility and one can spend and use his Bitcoin quite freely without any hassle. This can only happen if Government accepts the use of it and promotes BTC among the rural/backward citizens of the world.

No, there would not be enough subunits of bitcoin even after all of them have been mined. Many bitcoins have been burned forever but if all of them still existed at the time they were all mined there would only be 2.1 quadrillion. The M-1, M-2 and M-3 tradable assets (down to the smallest subunit, the penny) for the U. S. alone is greater than 2.1 quadrillion. The world derivatives market alone is believed to be worth roughly $1.2 quadrillion (that's 120 quadrillion pennies). Add every nation in the world together down to the smallest subunit of those currencies and you'd need 50 crypto currencies like bitcoin to make it work.

As for bitcoin, it would able to but it will only last for several years or decades depending on how many people
using bitcoin. as for blockchain I don't know if it can handle the overwhelming transaction every second.

In my opinion currently it can't​ be possible , but still if you can imagine then I don't think it is blockchain network can handle the use of bitcoin by the whole world .
Here just think that about 3-4 years ago there was no problem like confirmation but as the people entering in the bitcoin , the problem of confirmation is also increasing , so here I think blockchain will need to improve in that case .
Second best thing will happen that is the price of the bitcoin  , will Became unstoppable .

This is one of the major goal and objective of bitcoin
for this to be,all necessary technological advancement required would be put in place. the blockchain capacity will definitely be upgraded for real. we will get there soon.

This is possible really , Because the advantage of the bitcoin is going increasing and new new ways are generating in the bitcoin to make earning and start business , so no doubt that one day all the nation's will use bitcoin  , and if it will happen then we can estimate that how much the price will jump , Because most of the times price of the bitcoin flutuations fastly but just think what will happen if the whole world will enter in the bitcoin .
Here I will say that just wait for the time and hold bitcoin in your wallet , surely your bitcoin will multiplied by 100 ;)

There's a need to develop more ways to make bitcoin transaction faster, Its really possible that every nation will use it but its also hard to accompanied now a lot of users,due to its demand and lot of users people it might be hard to accommodate all the transaction smoothly.

I totally agree, despite the progress that bitcoin have made over the years and all the obstacles that it faced there is a lot has to be made before it can support mass worldwide adaptation and as you said the blockchain network is barely supporting the current user rate and as more people keep getting interested in the bitcoin domain and entre the bitcoin network the more pressure there will be and honestly it is not all the blockchain fault I think the miners have to do with it because they are the ones confirming these transactions, and if we need to advance we need to find a better way to confirm them, rather than paying fees and hoping for the transaction to be received faster.

hi .. thanks for fortunate more digits ... but if you can explain it where we have to add subdigits ...
from center wee can not bring all nations together to crypto, due to nationistic paradigm and domination they want under pretence that they protect us against other nations ... what they do really ... so we have to run from off-centre to keep decentralization in equilibrium ...
......................
centralized --- decentralized --- offcentralized .. or in true: fiat ---- crypto ----- divine
......................
in practice it is a brand new paradigm of divine universalism with generation of new divine money
.....................

then we see some path towards divine providence in experience that provides us with 10 000 divine dollars yearly per born citizen
.. join my betting pattern on site: http://zikalkiszik.blogspot.hr/ .. thanks for fine answers ... carry on .. you are on the shiny path

That's right, as for now bitcoin have its scale problem and struggling to overcome this. What I worried is when many people are joining bitcoin within a short span of time, bitcoin will becoming really slow that will make the transactions get confirmed after waiting few hours, it's not good and probably make bitcoin's image becoming ugly.
With this small percent of people using bitcoin compared to the whole human population around the world, we're already facing some serious problems.

On the one hand, popularization of bitcoin in countries' meetings will be good, and on the other hand the system may not withstand such a heavy load. In any case, we need to move in this direction.

I think it will be more good if all the race will accept bitcoin and it will make bitcoin to be surplus. Then i am sure it will be plenty and limited. When it come to be things will be good and people everywhere experience one mutual love.
I hope that would happen very soon and i am sure that will unite the world.

Managing all bitcoin users is possible but the problem comes when people want to deliberately spam the network to slow it down and cause backlogs or force everyone to pay high transaction fees to benefit miners but every country getting on board might need the blocksize increased to speed up things.

As we have already seen many times, it is not a big problem for a group of organized people,  to make a big traffic in blockchain network, which causes high fees and longer time to confirm the transaction.
We would need to have some kind of improvement of the blockchain technology to maintain whole world using this network, imagine only 100 million people using blockchain in one day and that would be already a really big traffic.

Bitcoin is worldwide indeed, but for now it is not adapted to holding so many users in its web, without any solution it would be just useless with all it's traffic and very high fees.

When the way i see it. In my personal point of view if bitcoin become more popular and will be using by other nations lot of young teenagers who needed an extra income can choose bitcoin as there alternative options same goes to middle age and to average option they will know how to know a bit about trading and investment because of bitcoin.

i think that national states societies countries will not approve any additional sources of money to teenagers or poor people
jobless and helpless, so again we need to create our own source of money universally over internet an that is divine money

Well it that happens you are sure that bitcoin is being accepted by the government and not a single one is out there who doesn't know what bitcoin is and maybe it is now the one currency accepted or if not it is accepted but other currency is still in use but have decline greatly in value, or maybe if it is accepted in all nations the value will just become stable and no more sudden movements but it is too high that dollar is demonetize? well there are many things that could happen specially when it comes with bitcoin!

it  will also help in the trading of goods and any type of online shopping. despite of using dollar or some other digital currency to be used. an online currency which will be used by all over the world and trusted enough to be used is very helpful in trading of goods and online shopping. it will help the users as well as traders because one of the main problem of trading in a specific country is its currency and exchanges links. as we all know the internet world is spreading like a storm so, a cryptocurrency is pretty helpful to be used all over the world.

it is good, the bitcoin will increase the number of investore and the number of users. it will lead to the grow of bitcoin and it will be known in all countries it tends to be every store in the world will accept bitcoin as its payment.

 Bitcoin is pretty much the new payment method for almost every Country in the world. If I wanted to pay for something online then I would much rather talk to the owner of the Business and pay with Bitcoin so I would have a better experience when purchasing an item from their Company.
Things like PayPal and other payment processing Companies won't survive unless they adapt with Bitcoin because the people would want to use something that costs less for them when they purchase a item.

you are right that if the number of investor for bitcoin will increase then there will be large users of bitcoin and if the users of bitcoin will be increase then the price of bitcoin will increase day by day and due to which gradually many nations will start to use bitcoin then bitcoin could be a world currency in future.

If you're talking about every country using Bitcoin as an official currency, that's not going to happen. The most likely scenario is that many countries will allow Bitcoin just like credit cards or PayPal. There will also be countries that feel threatened by it and will highly regulate it.

It's not good because at the same time the network will be flooded with unconfirmed tx like what's happening recently. What more if everyone is using bitcoin we might reach millions of unconfirmed transactions.

if all nations in the world make stated use bitcoin i think the current supply will not enough to all of bitcoin users and the effect is the price of bitcoin will very expensive and i think the victim from these situations is the people who live on the third countries cannot use bitcoin because usually most of them is poor countries

I think it will cause very high amount of traffic for blockchain, and probably it will cause many issues, like getting so many transactions unconfirmed, and the transactions fees will increase as well.

everything expands so far as it could go, cryptos will stay under slavery of fiats so long until the divine intervention delivers them from that slavery
when obama came to power he said: look people, i have to bail out banks so that you can have source of money for lending, i can not bail out you
only god can bail out the people, as almighty god is prohibited and banned by the science and religion to become born so we ought to create secular god
solution is too close to be seen, i was sailing as a ship's mate and we had radar with off-center option, that center is position for our secular god
crypto industry online is 2cents2%, we can't earn cryptos, we must buy cryptos to satisfy fiats owners, they will scam and scum us, we spam & slam

Imagine that suddenly there are 200m transactions per second in the mempool, but wait that would mean 200m tx and every one of them should contain at least a few bucks worth of bitcoins, I think 50 years from now that'll become a reality. right now let us have 10-15 tx per second and fees reduced then we'll think about all the world using bitcoin.

That is exactly what is happening currently. To think that only a small portion of the world's population is using bitcoin for transactions, what more if the whole world uses bitcoin. I'm afraid that the current system that handles every transaction is very far from being capable of handling a massive number of transactions. This needs a lot of improvements and attention.

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.

If everyone in the world used Bitcoin then I would think that the price of Bitcoin would get pretty high. With a huge amount of people trying to purchase the coin to purchase other things with it and receiving a discount on things just by using Bitcoin will cause the price to go up really high each day.
I would also think that the transaction speed would be improved because of the amount of people carrying and spending Bitcoin.

I hope everyone is using bitcoin as a means of transaction and if it happens will be good for the growth of bitcoin,
but to realize it will take a long time.

If all nations will use bitcoin as their mide of payment if their government will accept it  wholeheartedly, it will surely the value of bitcoin will increase together with the demand of the bitcoin users.

if all the nations used bitcoin with our current system, I think we will be doomed, there will be a lot of unconfirmed transactions, many users will be dissapointed, and many users will eventually convert to altcoins that is better than the transaction of bitcoin. We need bigger blocks and quick confirmations. Maybe it will happen if a fork will be implemented, I mean after a fork is. Maybe a soft one, but not a hard one.

if all nation of the world start to use bitcoin then we can easily use for direct shopping and online shopping and bitcoin going to more advance currency in the future.

then it will be a golden age for bitcoin the price will reach to the sky and every early investor will be a millionaire even with one bitcoin investment. The issues of blockchain will not be a problem as then major entities will involve to work for that technology and they will find out the solution.

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.

If all the nations of the world started using Bitcoin I think the worldwide government will have no choce but to accept Bitcoin. By that time there will be issues if Bitcoin will be the universal currency or not. Also, the valie of Bitcoin might rise to mountain due to it's demand.

Why there's no choice? I guess that if the world started using bitcoin it's might be only for an alternate currency and not for the main currency unfortunately, though, not accepting bitcoin will not affecting the economy that much, or even don't affect at all.
If the government sees that bitcoin could be a threat for them, they simply refuse, that's it.

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.

Yes, it will very well raise the price of bitcoin and give an opportunity to become millionaires to those who bought coins at the very beginning.

Yes and bitcoin will become global currency in the world because of all of countries adopt bitcoin in their countries
the fiat currencies will be useless because of bitcoin,
 the peoples will have stable value if out their whealty in bitcoin because there are not inflation in bitcoin
and will many people consider bitcoin is new gold.

yes .. gold and bitcoin are similar in appearance as being mined and being standards (valuable). block is nugget ...
maybe crypto is just try to go back to stable golden standard, the pretence was that crypto will equalize society members
the civilization is organized as a big pyramid, similar to a large ponzi scheme, where upper part is exploiting lower part
the god is trying to lay the pyramid down, as well as national barrel to tear down, to leave people to sneak out to divine universalism ..
but every liberation is dangerous, it can unleash various strange and devious forces ..
this fiat money is made from thin air and debts .... btc is made by algorithm ...
divine money can be generated only by activation of goodness with help of god .... so, god help us

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.

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?

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.

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.

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.

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.

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.

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.

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.

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.

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 .

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.

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.

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.

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.

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.

Once very nation will start to use bitcoin that can be a very fast way of living. Because most of us will just have transactions by bitcoin and the price will become higher. I think by that time the blockchain network can now cope up with vast transactions and there would be upgrade that our transactions will be confirmed within seconds.

Yes,its everyone's dream around here, if every country accepted bitcoin options on paying things will be fast but then transactions will be slower than what we have now because the volume of user of bitcoin will blow up.

I think if all nation do that the price of the bitcoin will go through out because the bitcoin is based in the supply and demand so the price of the bitcoin will increase so high, Because many people are using it the supply will lessen the price will pump.

Nearly all nations in the world already "use Bitcoin" in the sense that they are capable of doing so for any transaction that they want to do and the currency that they use is agreed between the two parties doing the transaction.  It'll never become legal tender because of the nature of government regulation, and it'll never replace legal tender for the same reason.

In poorly developed countries, very little bitcoin is used and maybe not all have heard of it and do not know what to do with it or are simply afraid to try it.

Those poor countries are not using bitcoin because they didn't aware of this opportunity and they just need to be aware from this currency and if they get well educated in bitcoin then they can easily use bitcoin and they will know what to do and how to use it as an another currency in their country that can help them especially in terms of remittances.

Yes, developer must be ready of thousand transaction every second of it. Because if bitcoin is use all over the world and being publicize the transaction will bulk and so there will be times of unconfirmed txd which we hate the most right?
I hope if someday this thing will happen we hope that developers resolve that problem.

For sure the value of bitcoin will go in the sky. The people who had bitcoin from faucets will be billionaire. And the people will act not with bitcoin a not with satoshi but with microsatoshi and nanosatoshi. Who will own one bitcoin with be rich in generations.

Now let's get out of sleep and let's see the reality. This thing will not happen even for at least 100 years. And for this 100 years bitcoin will have to many competitors. Some of those are in life since our days.

i think also: govt is centralize by its nature of ruling and disposing and crypto is a try to decentralize and liberate tender legal and illegal ... so, we need an universal structure as additional space where btc can be used and prosper ... but without help of divine money it is less likely to be realized
...The structure of a process system, or its architecture, can be viewed as a dualistic relationship of its infrastructure and suprastructure. The infrastructure describes a process system's component parts and their interactions. The suprastructure considers the super system of which the process system is a part. If fiats are infrastructure, then cryptos are virtual infrastructure , so, we need only suprastructure: divine universalism!

It can be handled.
Per bitcoin value will grow very high and we are going to use satoshis as means of usage. If it is way too expensive then every satoshi earned will be like a USD.
It is just like gold. Even for just an ounce of it, its price is way too high. As long as there are demands it will grow in price also.

It is indeed that the possibility for Bitcoin to stand high with the rest of the cryptocurrency and the actual one depends on how well Bitcoin cope up or adapt together with the increase demands because if not then Bitcoin will disappear that is why continuos modifications and improvements shoould be done in order for Bitcoin to stay intact.

I think that it would be really good because people who have invested in Bitcoin, us, would earn a lot of money because there would be so much demand and we would be able to supply. I don't know whether the blockchain would be able to handle all the users though. Only time can tell.

Blockchain won't and it will slow down, just look today, it's already slow. it's really boring waiting for confirmation.

Good idea, but if so, who will collect taxes?

usa got rid of king by revolution against taxes .... now we avoid revolution and we run universalisation
how, simply "by help of god", we will introduce a secular god and he will pay all taxes to governments

The government obviously.

Well only those businesses that are registered on the government that officially accepts bitcoin will be taxed. The government will require registration, I think, for any business that will accept bitcoin as a mode of payment, that way, the government can monitor who shall be taxed. The government may use other methods in monitoring businesses that will be taxed and that's up to them. I am sure that whatever approach they'll use is convenient for them. Also, the businesses that accepts bitcoin will obviously add value added tax to their products and services as well as bitcoin changers, bitcoin to fiat, will have fees and these will be taxed also (I think this will be the banks or other company that might emerge). However, if individual citizen will be taxed, it will be difficult and the government will have a hard time in doing so since they cannot monitor every citizen that uses bitcoin.

Bitcoin should be the defacto universal currency of the world and also for interstellar transactions, since it is decentralized and digital.  If we have other species or humans in other planets, naturally bitcoin would be the currency of choice, since I'm not gonna bring my fiat to other planets to transact with other parties.

Government or any organization should not be allowed any control of currency since it is known to destroy currencies throughout history. In fact, the idea of centralized governments are also obsolete since people can self govern themselves, just like bitcoin is self governing by the network.

yes they simply afraid of joining bitcoin because they don't fully aware of bitcoin they just need some awareness and some education about bitcoin and need to tell them how can they make money from bitcoin then their interest will grow to join it.

I think not.  Just some country.  using and capable of using is very different.  The first one had already committed an action while the latter one  just stating the capability and neither commit any action towards the subject.  Honestly your words are confusing, Japan already declared Bitcoin as legal tender so that contradicts your stand as you were stating the countries in this world as a whole in your argument.

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Even if not all countries use Bitcoin, but rather acknowledge Bitcoin, it will increase in price exponentially since adoption will increase exponentially causing the demand to pile up which can cause people to panic buy outbidding other buyer just to have a piece of Bitcoin.

I think that you do wrong, assumpting that bitcoin is not used by all nations worldwide, it is pretty much used everywhere, but just by some units, not a whole communities. It is because not everybody knows about cryptocurrency, and even those who know, do not use BTC in every case, some people are just not interested, or they think this is some kind of a ponzi scheme.

And, about your speculations, it is rather a known fact, that blockchain would not handle so many users, we already have problems with a big traffic on network, probably SegWit would have fixed that, but many miners are against the SegWit, in favour of Bitcoin Unlimited.

Nah, I actually think that even if people in that poor country know bitcoin very well, bitcoin is still kind of expensive thing for them and due to the fluctuation it will add more fear towards the people in poor country, they're not going to risk their money which is still needed to fulfill their expenses for the sake of bitcoin.
Education or anything towards bitcoin in poor countries is nothing if they don't have any money.

We would all be rich right now if that happened the increase in supply would sky rocket well past 100x

It stands to reason bitcoins value will thus increase 100 fold as well. It will actually be a few 100 Bitcoin. We will all be very early adopters and the rich elite.  ;)

If it covers 70% and above of our population then those unrealistic prices might stand a chance to come true. the certain thing is we can see a huge

increase on bitcoins price. those people on the goverment will eat their words so they will accept it but i agree that it will take some process but wont

be too long. i believe that those volatility thing that they talk about why they can't accept it is just a big excuse because if most of us will use it.

worrying about that is useless since it will not be lower like what they think.

Good to see people whose minds are not clouded by the euphoria that seems to be going around.  I agree with the above, and I would also point out that when people start using things like Bitpay, the merchant does NOT receive bitcoin.  They receive fiat.  Correct me if I am wrong on that.  And ultimately bitcoin gets dumped on the market, so this has a hammering effect on the price.  Also correct me if I'm wrong there.  There are definitely issues that need to be addressed before btc becomes a global currency, which I have serious doubts about anyway.

If so, I think Bitcoin will trigger a new age that is the Era of Higher Digital Awareness. Also the transactions are done now in a techy way than the traditional one that is by doing transactions with the actual money pr fiats

Already most of the countries use bitcoin, but very few countable number of countries use it with government support and legal regulations. If every country starts using with government support then the world gets a change in the structure framework in the functioning of different firms.

A few Chinese would then rule the world, as they would decide who gets what transaction published.

There is nothing impossible in the idea of making payments with bitcoin or with other crypto normal. Some app as Bitpay would solve all this in a moment. I think crypto currencies ase the greatest step in all worlds economy and step in the future. And this future may come true already tomorrow.

This is true that most of the countries in the world have bitcoin users because of the continuous growth of bitcoin and because of its attractive high price but there is only a few government supported because government of other countries doesn't know what is bitcoin and what are the advantages of it. And if ever that bitcoin is accepted and supported by government then it will be a big event for bitcoin.

A lot was talking about this in the forum that when is the government would accept bitcoin, and nearly all was saying that because of the uncontrollable transaction provided by bitcoin to some users that are using bitcoin for illegal purposes that is why some countries are banning it for good I think we should consider can we really prevent this kind of things, but there are no choice in doing this,

How we can prevent it if bitcoin users are fully anonymous from using it and i would love to see if bitcoins will remain uncontrolled and no government intervention since if they will enter the scene surely bitcoins will be limit and price will be hold and controlled by them. And for saying that we don't have a choice well you should set your mindset since people always have a choice.

I don't think they would, to be honest. Most countries prefer to deal in the fiat they print, as they can change the rate of inflation. Since no state actor can control bitcoin (except maybe China, as they own it), I don't think the world economy would unilaterally switch to accepting bitcoin. Would cause capital flight nightmares for some of those small, corrupt countries. And the banks wouldn't appreciate this one bit, not so easy to fractionally reserve bitcoin with the proper safeguards in place.

Well all nations are represented by few people over bitcoin already, sure if all people around bitcoin it would mean an instant insane up into the price, i believe it would reach without issues 5000-10000 dollars, due the supply avaible for new investors. The worse is that blockchain isnt able to handle the current transactions volume imagine it to grow 1000x-100000x it would be insane.

reaching a full adoption of bitcoin to every country will result to a great change in to bitcoin and it is what most people are waiting because once it happens the price will surely get in to the higher value aside from I don't know yet what will be the result of it to the bitcoin network and to the blockchain .

Try to not use too much logic and reason on this forum. It scares the cheerleaders and they'll attack.

You're correct with one exception. BitPay has said in the past that they exchange their redeemed btc "off book" so they don't disturb the price. That's just another factor that keeps me from believing the current "market price". As long as huge btc buys and sells are happening "off book" there will never be a known true market price.

What kind of change? The transaction confirmation will take longer? There will be a pile of unconfirmed transactions? Transaction fees will become higher? We don't need to wait for all the nations of the world to use bitcoin to see these changes because it is already happening. On the other hand, bitcoin's value will surely soar up and this I think is what we all what, right? ;D

excited its will be great, may be with use bitcoin can help the poor country . so come on education everyone in the world about bitcoin and use bitcoin                                                                       

Its not the supply that needs to adjust but it is the user who will. Why? Because if we think of it the supply of Bitcoin is limited and if the demand goes higher the prices will surely will go up as well. Also thinking of it being globally present means that it will surely have a demand that will be greater than the supply. We are looking at a price that even 10000 Satoshis is meaningful to us.

The supply remains the same all the time, but the demand changes, it depends on the amount of users in the blockchain (and those who store bitcoins) and it depends on the bitcoin popularity too.
Let's say that half of the planet population would use a bitcoin, what may happen?

There would be a huge roadblock on the path of the blockchain, because even 1 billion people can make such a big traffic that confirming these transactions could take a reaaally long time.
Without significant change, such as SegWit, bitcoin won't be prepared to maintain under such a massive amount of people wanting to send their money to other place.

This is the question that everyone in the bitcoin space has pondered many times over.

Personally, I tend not to have the view that everyone 'must' adopt Bitcoin. Bitcoin has it's use, it's the door through which everyone must pass - if they'd wish to interact with the digital asset market... this alone, suggests that the user base of bitcoin will continue to grow.

To speculate, it wouldn't be far from rational if digital assets morphed to be viewed more as consumer products - in short, consumer products that behave like financial products.

The way music and movies are categorised into "genres" forces producers to tailor their product to match the needs and behavioural patterns of the end consumer. As a result, the products are laser focused and therefore more likely to meet the needs of the end consumer.

I feel that digital assets should be constructed using this same frame of thought.

In the future, we may find ourselves in an ecosystem in which a variety of digital assets and currencies are built to achieve very specific tasks... self driving cars paying each other... consumers paying self driving cars... universal gaming tokens that are convertible into fiat currencies...

in a system like this, speculators and investors will be betting on the fact that people will continue to pay the fares charged by self driving taxi cabs.... since this activity forces consumers to be frequent purchasers of whichever digital token self driven cars accept, real economic behavior becomes associated with this specific digital asset.  

This is more logical than the current status quo in which exchange rates for digital currencies change at random, and with no obvious reason.

and as stated initially, Bitcoin will be the entrance into this market of digital assets.. just like it is today, we must first purchase some bitcoins before we can get our hands on a specific altcoin. Or purchase bitcoins in order to get out of a specific altcoin. This might continue to be the case.

So I don't think every country needs to adopt bitcoin in order for it to be successful. So long as bitcoin ends up becoming the chief currency of the internet, I think growth is somewhat assured

I don't know where you get that.  On kraken, for instance, you can buy eth, xmr, dash, ltc, .... directly with fiat, without going through bitcoin.   And you can sell them again to obtain fiat directly.  The list is not as long as on poloniex or bittrex, but most of the "big" crypto can be bought without ever passing by bitcoin.

I remember that report which stated if BTC would handle only 5% of Visa transaction, 1 BTC would be $40.000 worth. However, I dont think this is the main question, BTC will never become an actual currency. Instead it s a store of value over time, which appreciates due to its scarcity. The same as gold. 

cryptos are good solution for the civilisation, only fiats are too strong, they have real life and weapons, cryptos are weak and must serve as slaves to fiats
nhhh .. i see solution only in divine money to deliver cryptos from slavery ... divine intervention ... but, so far i am only one in this area, anyone join me, lol

That is their problem! and I have just said that there are no choice in doing this, but if there is a way in preventing this kind of illegal things in bitcoin I think that is the time when the government have a total control over bitcoin and I myself would want bitcoin to be as anonymous as possible because I don't want other people to know how much bitcoin I have, and that would be dangerous in my part for evil people having interest in it.

We will see a huge rising and it will give the early adopter a lot of profit, and also we will see so many people implemented bitcoin in their business beacuse it is being used by a lot of people from different country, but if it is being used by too many people the amount maybe wont be enough and there will be people cant own bitcoin

This is not possible because each country have different frames and regulations in their governing bodies. Just hypothetical if it happens then major currency of the world the rates will fall and everyone will use btc when they go or want to buy any thing from anywhere in the world.

It wont happen because if all nations would accept bitcoin and make it as a mainstream then chaos would really be mold up since most powerful nations would accumulate as much as they can and knowing that there are only 21 M bitcoins and how would all nations would divide it? There would be no circulation because on the lack of supply but expected prices would really be valuable but it wont happen even on my dreams.

This would takes years this thing to happen. Because we all know that government is having rules and regulations to make bitcoin as the world currency. I think there will be difficulty to make this happen.

If all countries started to use Bitcoin, then it would be much easier to use money transfers. I think this is a good idea.

I don't think there will be any impact on supply since it is limited and maximum what could happen is increase in price of per fraction units. However, due to increased transactions it is possible that fees will hike due to increase competition in fees paying and fees will become the matter of superiority and faster confirmation.

Yes I also agree with you! Actually for me it might take decades before it happens because right now, the world government doesn't fully embrace Bitcoin and there are also countries that banned it. Aside from that, not all people globally have the idea what Bitcoin is all about. I think we should work on those matter first before all nations can start to use it.

I think that's the smallest issue there is tbh. Blockchain would be flooded by transactions and do you think that banks would let bitcoin go into mainstream without them intervening? I don't think so myself, if you ask me, bitcoin will always be and remain the second option to fiat.

ROTFL  5% of Visa transactions. That's too funny.

There were 27 Billion eft transactions last year, that's 27,000,000,000 transactions. That's almost 74 million transactions a day.

The Bitcoin network processes 350,000 transactions a day and its struggling to do it. Ach/eft seamlessly handles 211.5 times more transactions than Bitcoin handles. Bitcoin would crash and burn if it tried to handle 5% of Visa transactions. On a good day, with the wind at its back and all the miners holding hands and singing Kumbaya, Bitcoin may be able to handle one half of one percent.

If everyone in the world used Bitcoins then I would think that Bitcoins Blockchain will slow down some.

You may be right. LOL

It will be a great opportunity to both bitcoin and bitcoin users in the world of cryptocurrency. The value of bitcoin will skyrocket as more and more people will be now using bitcoin as their medium of exchange. This will be a great time for bitcoin user to invest in bitcoin.

i think its actually can be good for every people because they can send and receive bitcoin with low fee but the problem is we need to get confirmed first by blockchain and now blockchain is too slow to receive too many transaction in a day. but if blockchain can increase the speed of transaction and in every country have a good internet connection, then i think it will be good but we need to thinking what the government will react about this and i am sure that they will not quiet to see bitcoin is use in every where.

Yes that would be great to all user. But as you said that is to happen because they need adoption for government. If government approve that i think that bitcoin can use in every country.

the government sees the bitcoin from two perspectives of pros and cons they tend to be more to the cons that is of the absence of taxes on bitcoins that do not provide benefits to the country, the anonymous bitcoin properties can be used as a tool for crime. Those things are often talked about by goverment.

At this state it must have handle all demand that willl happen if bitcoins would be accepted and use everywhere.If bitcoins would be accepted by all country then thats the time when bitcoins will be more well knowned and will become one of legal currency

First and far most, bitcoin is already being used by many people all around the world and us talking about it on this topic is a proof that it is international, and second even if bitcoin was approved by law to become a legal not everyone will use people chose to weather acknowledge it or reject it and even though it may increase the value and the number of people using it, but it will be like gold a thing not everyone will choose to invest in, or have access to.

So you think the current low fees per transaction is because there's few people only use bitcoin and do transact?
I think the low fees should be keep that way , higher fee will make bitcoin no difference with other online payment processor.
That's what makes bitcoin special , i believe when a lot of people use bitcoin there will be a new way to handle it.

I think even though the next few decades the government will never accept and legalize bitcoin. And it is impossible for all countries to unite to have only one currency

As said the price of bitcoin would peak much higher than what's been predicted. Recent days it's been predicted that the price might go higher as much as $50k per bitcoin. So the limitations in mining of specific number of coins will not fulfill the entire requirement for which only way is to increase the value.

Then we would reach the scaling problem much sooner and there would have to be a solution in place for all the instant gratification buyers in the world (i.e. vast majority of consumers).

It all depends on what it is that they start to actually use Bitcoin for.

It would be great if all the people in world uses bitcoin, It can cause fast transaction and any kind of matter, like in grocery shop, using bitcoins for paying plane, boat ticket, paying bills, paying food. Also safe because you can travel without putting  any money  in your pocket  just like a credit card. People may also use bitcoins for paying advertising in T.V and radio. The more important thins is to it will also bring world peace. Because of all us nation is reunited  as one because of using bitcoins.

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

I don't think that it will happen , If the whole world will use bitcoin then the whole world can't remain without internet  , so the need of the better internet the owners of the internet provider will charge more money by us to give better service.
But here we should be think about that the problem of confirmation will increase if it will happen , Because as the bitcoin network is growing the fee is increasing , so we can make estimate that it may be possible that in the future we need to pay more than 1$ ( regraless of the input and output transaction​ , minimum will remain $1/transaction)

If that happen it will surely that each nation's their economy status will be in a progress status immediately, because all their citizens will going to use bitcoin to their daily lives and the price also increase as everybody expecting it to be happen. And the prediction will be fulfill too to become the the new world currency.

It  will be a very welcome idea...cause it will become known and widely accepted...

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

Also you can't really expect much of those free internet that they provide. The influence of Bitcoin to all the nations needs to qualify to the major qualifications of an individual that is they know how to use gadgets or internet which is a problem in countries that are poor and applicable to those who are wealthy enough to have access with this and next is for them to understand the Bitcoin itself. The definite solution I can think of regarding the internet to access Bitcoin is to make it to be accessed in a free data like facebook but I don't know if it is possible or not or how will it be.

That's a fact in other countries and places but here in my country, you won't see a place like that. There might be "wifi zone" but don't expect that you can connect to the network easily. There are people that instead of connecting to that wifi zone places they are ordering some coffee at Starbucks just for them to be able to have access in the internet. I don't expect that free internet will happen even all countries will use bitcoin.

It is a mere dream that certain countries would have it, and not all county has the same thing in common and the internet is a huge thing other countries does not progress in, sad to say is my country is just like what you have in your country even if there are more room to make a progress the government don't want it, well maybe some countries government really is preventing their people from using bitcoin and by doing this they can lessen the people using it.

If all nation continue using bitcoin maybe it can be the main currency in the world one digital currency will exist in the word and the world would start adopting the changes that is happening.

This will increase the price of coins, but you need to improve the system so that there are no failures due to a huge number of transactions.

Just like what I said internet is a big business in the entire world. Big companies are taking advantage about it and well it's hard to think that bitcoin will be known worldwide and all the nations will start to use bitcoin. But still we don't know what is going to happen about bitcoin, there is a chance and there is also the opposite.

@janprix, exactly! it will skyrockets but i thing it will cause too a huge volumes of traffic transactions due to a large volumes who uses bitcoin. this my also result to higher fees for miners. i also agree that blockchain needs to improve and innovate more its current technlogy in order to meet the the massive transactions.


regards.

If all nations will use bitcoin, I think we who believe in bitcoin now will become very rich.
That is possible if we will not panic selling our bitcoin, we can see the price will grow faster and that is what we like.
I think that is possible but it will take time so we need to wait.

I agree. And I think that the bitcoin blockchain system can never maintain a huge number of transaction daily if the whole world starts using Bitcoin. There will be another altcoin strong enough to sweep Bitcoin away

if its happen, bitcoin banks will be build and many stores in the market started to accepts bitcoin as one of the coins that they are accepting. It is also good for us , why? because in order for bitcoin to be live for a long time. It must be circulates.It must be spend not always to be invested. People needs to spend it in order for it to circulates like other coins worldwide.

Nope.
You can't continue using something that you're not using right now.
And no nation in the world is using bitcoin right now.

People are using bitcoins and the chances of a nation adopting bitcoin right now are as big as going for the gold standard.
It won't happen too soon.Unfortunately....

Those problems that we are experiencing will surely be fix when all the nations are already using and adopted bitcoin. And it's a thing that will make the price to pump, the demand will be higher and the supply will be lesser and I guess when it happens, satoshi's / bits will be more valuable by that time and has a very good value.

Well you're idea is acceptable and if nations will adopt bitcoin I think many hardworking people will have profitable income in the future. More individuals will gain good fianancial sources that can help them with their daily spending particularly with the support of food budget and basic needs like for education of the children as well as other spenses for family bonding like going to malls; and also buying things needed to look better. Lifestyle will be improving if all nations will adopt this kind of digital currency and cashless society will be promoted.

Yes that will attract a lot of people because it's either they will be forced to use bitcoin since many are using it or it will be implemented by the government or it will be declared as a safe and recommended crypto currency. But if ever this will happen then there will be doors opening for other alt coins as well, it's possible.

Yes there are certain other business that exactly need internet access and a lot of people can do this kind of stuff but what people need in bitcoin is a certain knowledge to really earn with it, and we can certainly know what is up for us in the future of bitcoin, we can never say what will happen in the impending major events that might happen that can impact bitcoin value!

to me i think it is already the future of bitcoin that all the people of the world will accept bitcoin as legal currency and then all the people will be using for online shopping as well as they will also use it in local shops for shopping and so many other purposes. i think the trend of new generation is already toward online shopping ans business therefore they can have bitcoin as the best option for fulfilling their wishes.

Bitcoin has the potential to be the currency that everyone in the future will use because of its advantages over our current fiat system. The problem however lies in the congestion of transactions and the fees that keep increasing. Even if bitcoin’s price increases significantly over the years, if we continue to encounter problems with delayed transactions, it will always be just another currency that caters to a niche market. People will tend to hold it more for investment rather than as a currency.

Bicoin has its room of improvements and I expect for it to cope with the demand of its users worldwide and also if government would decide to legalize it in their respective country then I'm sure that they will help improve the system of bitcoin and also the advantages and benefits of bitcoin has its very sharp edge for other alt coins to touch it.

Well currently it's fair to say that but what if there's a solution for a possible change in block size which will be agreed by all ? That's why I hate conclusive statements because nobody knows tomorrow.

If you think the whole world will use it, I'm sure that they will try to catch up to to the furthest development for of the bitcoin project. People all over the world, programmers, developers etc will combine all knowledge to make an extraordinary update for bitcoin. Why would the whole world use a limited blockchain system?  ;)

That is the only problem for bitcoin to be used in all nations of the world; being limited in terms of supply. If bitcoin was unlimited to its supply then there  is possibility to be adopted by the people around the world and their nation. But the disadvantage for that is bitcoin will become cheaper and more stable which most of us don't link because one of the things that make us interested in bitcoin is its price and being volatile.

Is the project bitcoin missed something. It seems to me that this system is developing steadily and systematically. Yes, there are some problems, but they can still be solved. I'm talking about a long confirmation of transactions

then why the problem hasn't been solved yet? the long confirmation problem have been there from a long time ago and it's still unsolved

If all countries will adopt bitcoin then the price of bitcoin will no longer increase but become fixed since the government will make a move to make the price of bitcoin stable. The only change in bitcoins value is when the US dollars value will increase. But it is a long way to go and we are still uncertain if who among our ideas will occur but hopefully there is a bright future in bitcoin.

Which government?

Because there would have to be a consensus for that ;).
And we're barely managing to have a consensus between 20 miners and 10 developers what are we going to do with 230 goverments with different politics and left/right views?

In nearest future impossible to imagine that all nations started to use bitcoin, because every country has its own financial system, tax income, money emission and inflation. It is a huge control lever over masses.

Yes, I agree with you, providing free internet in public places will not have that much benefit for people. As many people will use the internet in places that they will have free internet. I'm sure the internet speed will be slow, especially in my country, where we were ranked as one of the lowest country with poor internet connection.

You're all right if all of that happens now but since our technology is rapidly increasing we can expect better things in the future . I also have the same situation as you, My country is one of the slowest but expensive internet connection although our government is currently searching for a solution to this problem . One things for sure, if things like free worldwide internet connection and all nations accepting bitcoin will happen, It won't happen anytime soon .

If that would be the case then bitcoin is mostly over. The prices will rise to some 10k but no use the transactions speed will be slow. It would 48 hours to process a payment with some 10$ fees. The low fees payments can take months.

Even Bitcoin will get adopted and developed for those situations. If the governments start using BTC then they will surely think about its development but the anonymity will be a big hurdle for them as they will not be knowing about most of the transaction senders and receivers.

It will be on a room of improvement and it's already on the room waiting for some upgrades that should be done. The bitcoin surely will pump the government will play a very important role for making the belief of many about bitcoin from negative to positive. They might improve the system but not totally all about it, mostly with regulation.

Yeah, I agree, the only way governments will agree on making bitcoin as a legal currency is if we agree on giving up one of its best quality which is being anonymous, and if that happens than the bitcoin will go down because most of the bitcoin market is powered by illegal actions that take place in shadows of the net, otherwise what benefits will they have in doing so, I think that is why they haven’t made any decisions regarding regulating bitcoin.

It would be a great thing if all countries in the world started using bitcoin. Everything will become easier, Bitcoin is accepted and users will no longer have to worry about its legality. It can become a currency rather than an electronic currency. The value of Bitcoin will increase sharply because of the many users, so the supply is lacking. This means Bitcoin exploitation will be more difficult. But I think this is hardly possible because all the countries in the world are not the same, there are some poor countries have not thrived, their people are unknown to Bitcoin

That's the time Bitcoin will declare as new world currency I think if that happens. Which means majority of the businesses or merchants are bitcoin accepted. How I wish that to be happened soon ;)

Bitcoin is already a currency and bitcoin will not be a new world currency because lack of supply and it will not be sustainable for the entire population of our world. If bitcoin will be used by all nations then it will be great because the price in that time will be huge and we will be millionaires because of that.

IF all nation started to use bitcoin it will be great because the demand of bitcoin will go up and no doubt that the bitcoin price will also increase and bitcoin will have lot of partnership and you can use it in many store where you can buy using digital currency.

Lack of supply?
That is exactly why bitcoin is doing so great compared to fiat.
It's limited unlike fiat which can be printed any second the government is out of toilet paper.

How is possible that people who use this forum for months can still spout crap like this?

That's good in our bitcoin community. Because the price of bitcoin will pump. But The question is if all nations of the world started to use bitcoin if they can handle this traffic of transaction? If this transaction will confirm faster ?

Japan have accepted bitcoin, what do you think japan's comment about some slow transaction confirmation that take days to be confirm? do you think they would rather give big amount of fees so their transaction could be confirm quickly? Well I think they just keep it as is because the part that is important is the technology of bitcoin, well that is my opinion well let's just see if the whole world would really accept bitcoin just like japan did.

The only problem that can encounter if ever every nation will use it ,is the confirmations delay. This is already happening now even in some countries that are not known it yet,what more if they acquire it also, So your right that there is really a need to develop it and make it faster.

this is the main problem that bitcoin have and its should fixed so the confirmations is no need to waiting for too long. i am sure that if all nations is started to use bitcoin, then blockchain will be fast in confirmatin because the teams of bitcoin will not let blockchain to get slow in confirmations so they will fixed this as soon as possible.

For countries that are moving any sort of a sum of money, typically it's not a terrible thing to only have to wait 10 to 30 minutes for the transaction to go through. Using conventional methods, that can take a lot, and I mean a lot, longer. The only convenience that countries have available to them is that they get a bit more priority due to the nature of what they do. If they opted to use Bitcoin, it not only moves faster, but is also traceable, and seeing a multi-million or potentially multi-billion dollar move on the blockchain would be something everyone would be watching.

Bitcoin's value is dictated by the demand and supply, so how come that bitcoin's value will be fixed if all country adopts bitcoin and to think that the demand of bitcoin on that point is very high. Obviously, based from the law of supply and demand, bitcoin's price will soar up.

How come that the government will do something about bitcoin's price? They cannot even touch bitcoin. So please enlighten us on how will they do it.

Bitcoin's value is not dictated by supply and demand, at this point the majority of the market is more interested in speculation and guessing games rather than actually buying or selling due to a need or surplus of it. That one ETF is going through the SEC again and there's a high chance that the current market value of Bitcoin is partially speculation about that, along with other movements happening due to Bitfinex screwing the value up for everyone.

Single currency system won't exist to make the financial system run in a perfect manner. Because the money value varies between Countries. Also in future bitcoin might be used as an currency for cross border transaction where as within the country the transaction will be made using the country's own digital coin.

Bitcoin will be only an additional currency with which you can not only pay off, but also earn on the growth of the price.

It sounds like utopia that every nation in the world uses Bitcoin. I'm not saying this could be impossibe but at the moment there are no cinditions for such thing because not all have the equal knowledge and access to the new technologies and Internet and Bitcoin can't be used everywhere under same conditions. And it's not very likely that it would become the main currency.

A universal currency is much more ideal, because we can’t really expect countries to just ditch their local currencies and go gaga over a digital currency. Just like what the dollar is now, bitcoin can be that currency that the world over will prefer to use when it comes to international purchases or something that you can rely on because of the value that it holds. That could be the day when even a satoshi would have a significant amount and is enough to buy a cigarette.

I highly agree since their own currency is more than a thing used in transactions but also reflects their culture, country, and governments authority to their jurisdiction. In our country, in every coin and especially every bill has our history or any beautiful wonders in our country printed aside from the heros and the former president who have served in our country with love and blood.

that's why bitcoin will be hard to implement as universal currency ,it can be the most known crytocurrency or internet money, but in actual when government , laws and principles to be on the list . It will be a long run to promote bitcoin and to adapt physically.

the price will increase, for sure. And then no one wants to use Bitcoin anymore because I believe that 21 millions Bitcoin can not adapt 7 billions people and more over, miners and the blockchain can not confirm 1 transaction in less than an hour

If that really happens in future then the price of bitcoins will reach to the moon and it will be used and accepted as a fiat currency but I don't think that will ever happen as some countries will never allow usage of bitcoins in their country.

Bitcoin price would go very high if every country used bitcoin. Would probably mean higher fees if that happened right now. We would need segwit for sure to get this solved.

Yeah that is right. The more people use bitcoin, the higher the fees are. Therefore, we must encourage more people to join our community and tell them how beautiful and remarkable Bitcoin can be. Tell them that Bitcoin has changed your life and make you richer than ever

There are already people from every nation using bitcoin. Just not on a huge level. But the fire has been started....

yeah many people do not spend their bitcoin because they are sure that bitcoin price increasing constantly everyday then they hold their bitcoin and waiting for more high price and i hope they will be get a big profit in the future.

As much as possible I do not enter into any bitcoin spending now since were really sure that its value will increase more than what's happening now, anyway it is seems a way of investing in a safer way since bitcoin value is obviously increasing.

Same the possibilities are limitless if it starts being used officially by nations. Its one of those things where you see more and more people using it so you know its going to keep going up as long as that trend continues.

Then I am sure that the price of bitcoin will start to increase more and more faster and at that time the investors will like to store more coins and the demnad will be that much that the price of one satoshi will reach to about $1.

Yes t will increase more high. And if all the governments will guarantee for the security of bitcoin then everyone will have their own bank in their wallet and will store their money only in bitcoin on their wallet

That will be a crazy time for the users of bitcoin as at that time bitcoin will be a more precious asset of the world because the supply and amount of bitcoin is limited and the demand will be from all of the world and even a single satoshi will be much precious to buy. The current users will be the more rich people of the world.

Probably this things might happen since from $300 to $2000 value of btc been seen how it progress in such a small period of time, Bitcoin users now can be able to save more and benefit from future increase and development of bitcoin since we already see that bitcoin have the ability to reach bigger value than expected,so value our btc now as much as possible.

yes its true the price will increase , the demand will increase too. im hoping that someday all of the countries will accept bitcoin as one of the mode of payment that we can paid off. the more people using it, the more opportunities are being opened. and more an more people will invest bitcoin and they will be happy and satisfied for using it.

With the prediction that if every country uses bitcoin, I bet this condition will be more and more changers emerging, this is a chance that everyone wants, and transaction costs will continue to rise.

This would scare the living shit out of me, as thus would make bitcoin the one currency the Bible talks about. For one, I don't think it will happen as a state can't control the rate of inflation, which is crazy important if you are planning something as lofty as finacial policy for a whole nation. Also, if States were interested in adopting bitcoin, they would mine it. If any one state attempted to mine bitcoin for itself, it would be an arms race as nations competed to build the best/ most efficient miners. No private company, not even BitFury or Bitmain, could compete with a state actor concerning bitcoin.

Easier to make a new, more controllable bitcoin than subvert the original coin.

I think it's such a great change if every country in the world started to accept and use bitcoin. But i think it is quite difficult to happen, since not all country have same technology development. I bet there's still some place who doesn't even know what internet is and even if every country accept bitcoin, not many people will be able to use it since not many people know and understand bitcoin. Even when i explain about bitcoin to some people they're clueless af and don't care about it since they think it's difficult and prefer using something more common.

I've heard that bitcoin is already being used in Russia and Japan, but officially I've yet to find citizens using bitcoin transactions directly. I think there is currently no official State using bitcoin.

Well if that happens, I think that's the time that bitcoin was being declared as a world currency.
Yes, the current supply of bitcoin in the blockchain has a capacity to sustain all the supply in the whole world user.

In my personal point of view nothing or no big change will happen in such country or a country that patronizes bitcoin cause bitcoin is cause mostly like those are online investment businesses. however it has a big contribution to those individuals who is in to bitcoin.

Provided each user can afford waiting a several thousand years until his payment has been processed by the bitcoin matrix.

Fact: Backlog increasing, transactions on hold for weeks. Right now. Look at the stats.

People like you should stop writing and start reading.

The blockchain capacity refers to the number of transactions that can be confirmed in a given time.
It has no whatsoever correlation with the supply of bitcoins or their number.

So next time before making yourself look stupid do a bit of research.

The current blockchain is going to serve the whole world if bitcoin is being adopted as the world currencies. Is all about it values maybe by then bitcoin will be trade above $1,000,000 and if a country have few bitcoin it will be enough for them.

Yes people are now interested in bitcoin. Especially for those people who are in the eastern. If all nations started to earn bitcoins it will be good. Because people will get interested on it. And they will invest their money. The bitcoin price will go higher because of the demand of the people.

LOL. I don't know about Russia, but Japan is legalizing bitcoin already and used as legal tender. I would considered Japan as the only nation who are using bitcoin together with their national currency (Yen).  So I guess their citizens now are using it just like their currency. And there are a lot of bitcoin ATM's as well. So they can withdraw fiat if they want to used fiat as mode of payment.

If bitcoin represented 10% of the whole Fiat. Bitcoin would be worth at least $ 100,000 each.

Bitcoin is not legal tender in Japan, its just accepted as currency. Legal tender means that shops are required to accept it and that status is reserved for the yen. There are more and more shops that CHOOSE to accept bitcoin however and big interest but lets not go pretending its a widespread thing, at least not yet.

That would be a great thing but yeah i guess the blockchain need some upgrade to handle all the bitcon user all over the globe we better start adding a technologies that can help about this problem ithe coming year if not were gonna need another curency that was like bitcoin to handle rhe situation.

Japan is doing its best to establish bitcoin to the whole country system and I am very excited to hear that news. Anyhow, bitcoin is not legalized yet and it will take many years for Bitcoin to become an international currency

both russia and japan legalizes bitcoin as a form of payment , it's doesn't mean a lot of people would use bitcoin there . just pushing people trust , once government make a public announcement , alot of investor would start to take bitcoin seriously as a place to invest and also some merchants would consider to adopt bitcoin as the payment processor. it's pretty clear could leading into bull market.

When all the whole countries in the world start to use Bitcoin then the cryptocurrency world would have arrived. The block chain capacity will be increased and all will benefit from fast payment and low cost of fund transfer and ultimately profit for all. That is the expectation.

I heard that not only Japan and Russia legalised bitcoin even Austrailia also legalised this bitcoin their country. But I don't know in that country people are accepting bitcoin for payment mode or not. But bitcoin ATM 's are opened in this country. I hope in future the govt will allow people use bitcoin in all business.

First thing will happen according to my thinking is,
If every country starts to use bitcoin then bitcoin price will definitely hit $20k per bitcoin  ;D
But it will not happen if only few people of every country starts to use bitcoin, but it will need lots of people's involvement from every country.

Lets assume that currently we have 1 million bitcoin users and we have all made it possible to take the price at $2400+
Lets think what will happen if we get 10 million bitcoin users?

As about the capacity,
I believe everything will get updated time to time to handle every possible issues.

The prices will obviously go up if everyone from all over the world start using Bitcoin. And it will be a revolution for all cryptocurrency and more will be adopted by the people. I think it will happen before 2020

Bitcoin price will hit $10000, but i worry about this one. In $2000 price, transaction cost between $1-$2 what is your prediction if bitcoin hit $10000? is it still worth for payment?

Imo tx fee will become 10-$15 and it's not worth again as payment method, but it will be digital assets.

IF ever that every nation starts to use bitcoin, obviously the price will be so high with 6-7 digits without decimal places. All people who held bitcoin for so long will start to rejoice because they are super rich. However, if that event occurred and the current system of bitcoin is still alive then we will encounter more that a million unconfirmed transaction and that is a sad number to deal with. Bottleneck in the blockchain was never a good news. Also, expect a higher transaction fee at that point.

The price is really neck to neck with the fee's of transaction and I don't really think increasing fee's are a good news for the users who had a lot of bitcoin right now, even if the price is really great right now but yeah that is how fee's work right now and I think we should still be thankful that bitcoin reach the full length increase and right now it is still proving to goes up!