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Title: If bitcoin had a max cap supply of 16 million then how much each bitcoin? Post by: very_452001 on July 30, 2017, 04:11:02 PM Lets say 16 million all mined by now like there is currently is 16 million bitcoins out there. Instead of official 21 million.
Why Satoshi chose 21 million? Is it a random figure from his head? Then how much 1 bitcoin is worth now you think? Title: Re: If bitcoin had a max cap supply of 16 million then how much each bitcoin? Post by: Variogam on July 30, 2017, 04:21:57 PM Why Satoshi chose 21 million? Is it a random figure from his head? Do not forget every Bitcoin has 100 million Satoshis. The amount of all Satoshis should not be far away from the amount of T1 money available or so, so not definitively random number. Title: Re: If bitcoin had a max cap supply of 16 million then how much each bitcoin? Post by: Reid on July 30, 2017, 04:25:36 PM That is hard to answer because the economy will be the one to rule it.
Buy and sell. How much is bought and the demands it have. Example. A gold is worth like 1250+ USD and the one from a sunken ship can double it. Why? Because of its rareness. Same with what bitcoin will be. It will be rare. Those 16 million that you say will be owned by wallet sites and let us say 1 bitcoin per average people. So there can only be 16 million people who can hold it. What if a newcomer of investors wants to have one each? That will be demands. We will be forced to sell it when the price of it grows wild. Title: Re: If bitcoin had a max cap supply of 16 million then how much each bitcoin? Post by: very_452001 on July 30, 2017, 11:43:08 PM Why Satoshi chose 21 million? Is it a random figure from his head? Do not forget every Bitcoin has 100 million Satoshis. The amount of all Satoshis should not be far away from the amount of T1 money available or so, so not definitively random number. What do you mean T1 money available? Title: Re: If bitcoin had a max cap supply of 16 million then how much each bitcoin? Post by: Pearls Before Swine on July 30, 2017, 11:55:15 PM I'm not sure it'd matter much; as pointed out, bitcoin can be divided down to 99 million satoshi,
so there's enough to go around. Maybe the price would be higher, but there's no telling. In my view, the price is purely based on supply and demand. If demand tanked because it suddenly got outlawed or some bug got found out, or because something else came along that was better, it wouldn't matter in the least how many coins existed. Does that make sense? So none of us can really answer this question with any certitude. It is an interesting thing to think about, but that's about all any of us can do. |