Bitcoin Forum

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?

Bitcoin can actually be used as a digital money or currency but the reason why the world is not accepting bitcoin as payment is not due to its maximum cap but it can be traced to the acceptance of the community towards bitcoin. Even if you have 1 billion bitcoins ot 1 Trillion bitcoins and the people are not accepting bitcoin as payment then it is still cannot be used as a money or currency.

I guess in that way we can use it but there will be one single time when its actual market cap will do reach to the maximum threshold thus leaving us no choice but halting it there. I mean you can cost 1 Satoshi 100K USD as we dont have any further units or breakdown of the bitcoin and thus it will become non trading. I mean even if it becomes worth 10 bucks then what about the smaller things that cost below that, how will you purchase them anyway? That kind of questions might arise in the future.

This limitation is one of advantages of bitcoin. It makes money printing impossible if bitcoin is used as money. Money printing causes inflation.

I think bitcoin wasn't invented to be used as "money by the whole world". And also, bitcoin can be parted to satoshis. But nevertheless, it wasn't meant to be used just like fiat. It is a digital currency which value isn't affected nor controlled by a central entity. And if bitcoins total supply will increase, its value will decrease.

less, it will only make the middle-class economy down
should the developers begin to improve the features of BTC, and committed to be able to internationalize the new coin in order to be adopted in bulk

bitcoin is a digital currency and it can be used for the whole world the only problem it faces is that it is not yet accepted by all 

If currencies were to be replaced by bitcoin, humans would be freer than they are now, and they would no longer be plundered by the central bank. The system of financial trust based on bitcoin will break down regional barriers so that all human beings can use safe, fast and reliable currencies. Hayek said that money is the greatest freedom that man has ever invented. Only money will be open to the poor, and power will never be. Bitcoin is a free currency that is open to the world's poor.

well I cannot say at the moment may be maybe not but one thing is clear it will solve the worlds biggest problem if the whole world accepts it

Having a finite supply in many ways is actually a good thing as it ensures that demand stays up which also means the price will increase--at least that's how the model is supposed to work. Don't look at btc as a future world currency that overtakes fiat, instead look at it as an alternative currency that people use whenever they see fit and that merchants accept if they choose to. For the btc ecosystem to survive after all coins have been mined it will be dependent on btc value continuing to increase--as its model is structured to do. If this stays true, miners will then be able to charge worthwhile fees for each transaction on the network thus keeping incentives alive and allowing for further dissemination of btc.

Of course because 21 million is too small compared to people in the world and i think 21 million of supply will becomre more high price because of the supply and demand i am sure bidding will increase more because of the people wants to get a lot of money.

Although the supply of coins reaches only 21 million, it does not reduce the potential for bitcoin to become an official currency, because with a supply of only 21 million, then there will be a rotation of ownership of bitcoin. The rotation is caused by the transaction.

bitcoins 21m cap is the same as saying there are only 175,000 tonnes of gold

at code level there are not 21million coins going to be produced. its actually measured in satoshi's at code level. and thus there are 2.1quadrillion sharable units of measure(analogy: gold ounces)

but the main point is. bitcoins whole ethos falls flat if bitcoin took over the world and became the only world currency. bitcoins ethos and purpose is/was suppose to be a open barrierless choice away from FIAT. so having a choice and options is good.. but being forced to only use one currency is bad. so dont expect everyone to store their entire life savings in bitcoin.

but yea if you imagine 1 billion(12.5%) of the world using bitcoin partially invested as part of a portfolio then each person can have a noticable amount of satoshi's in their control

bitcoin can not be used as digital currency or country currency not because of its limited maximum amount. but I think because bitcoin has fluctuative properties and also some countries can not accept bitcoin as a means of payment.

why do you think that? did you give it any thought or just a guess?
there are 2,100,000,000,000,000 units currently available to bitcoin. and 1 unit of it is called 1 satoshi which is worth $0.000083 even if bitcoin reaches $1 million, 1 satoshi will be worth $0.01 which is will be the same as smallest unit of USD. so why do you think there isn't enough of it available?

Yes it is true and I think so too with the world population and the amount of bitcoin is not enough, and there should be an increase in the number of bitcoin or maybe it could be using other coins like ethereum and Ripple.

I think bitcoin can not be used for the whole world, because Bitcoin around the world is almost reaching its limit. To date, there are already 16.8 million Bitcoin successfully mined by miners. The depleted digital currency stocks are running low. Because it is only 20% of the total 21 million Bitcoin pegged by Satoshi Nakamato, the creator.

This is a common misconception that people have about bitcoin.

Bitcoin can be divided into insanely small fractions of itself, so whenever the value of bitcoin rises due to more adopters, it would simply mean that a smaller fraction of bitcoin is worth the same fiat amount.

And if ever need be, BTC can definitely be changed to support even more decimal places.

The maximum cap that bitcoin has got in place is actually an extremely attractive thing, as it is something that fiat lacks, and what makes bitcoin a good store of value in the long run.

Bitcoin is number one digital crypto currency in the world but there are some countries they are banned bitcoin if you have 1 billion bitcoin but this coins are not accepting by your government then it will not banifited for you.But the situation is changing many countries governments are accepting bitcoin.

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

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

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

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

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

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

Of course it can.
It doesn't matter if the cap is 1bitcoin, 21 million bitcoins or gazillion of them because it's a digital currency that can have millions of decimal places. For example in the future maybe you'll only need 1BTC to be regarded as a rich man. Maybe that number will be 10/1000/1000BTC or maybe it'll be as small as 0.00001BTC and all of us will be millionaires with few people with mega-giga trillions in their pocket. ;D Or let say your salary in Bitcoins is 10BTC/year at this time. In the future as the value of BTC goes up maybe it'll be 0.5BTC/year. The cap is not important because the math solved that problems long ago.
Even if the cap was at 1BTC that would be plenty for every single transaction on the Earth for the end of time...

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

Even if the supply is capped at 21 million coins, Bitcoin was made divisible by design. This is something that cannot be done with regular fiat money, as it's only divisible up to 2 decimal places. Bitcoin is divisible by 8 decimal places (correct me if I'm wrong) allowing it to be transferred in minuscule amounts.

In the future, if fees decline in the Bitcoin network, then payments in Satoshis (the smallest form of Bitcoin) would be practical once more. With this, people can send 0.00000001 BTC easily without hassles. Depending on BTC's price in the future, that amount could be worth $1 or so. Therefore, if you divide 21 million Bitcoins into 0.00000001 BTC (which equals 1 satoshi), then the real cap of Bitcoins would be 2,100,000,000,000,000 coins in existence. That's quite enough for anyone in the world. :)

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

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

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

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

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

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

BTC is insanely divisible, so yes.

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

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

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

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

Bitcoin's maximum cap is only 20 million but you can break it down to smaller value. You can use Satoshi instead of a whole Bitcoin. Aside from that, there are now lots of altcoins which can use as Bitcoin alternative.

The hard cap will not be increased in the future and it will be 21 million bitcoins centuries from now, a single bitcoin can be divisible to eight decimal places and we have more bitcoins for the entire world, it is not necessary to hold an entire bitcoin to trade, even when the price of bitcoin reaches a million dollars you are able to trade as usual if the scaling is done correctly transaction charges wont eat your profits.

When time comes that whole world accept bitcoin,this will be the precious of them all,meaning people dont need just to use bitcoin because thousands of altcoins if not millions are in circulation to be used.depending on their value,thats why if you still have a chance you must gather how many as you can hold so in future you will be ready and relax with your bitcoin on hand while others are begging to have one

The limited number of bitcoins of 21 million is not related to its possibility or impossibility to use it as a world currency. The impossibility of such use of bitcoin is associated with its high volatility. It is the instability of bitcoin that prevents its use as a world currency. If the price of bitcoin is constantly changing, the economy of the country will not be able to work normally. Therefore, bitcoin as money can be used only along with the usual national money of the state.

I also have same kind of doubt like you. But I hope that it has the chance to be used as common currency in the world. 1 btc can be divided into 100,000 satoshi which is a big number. So it might not be a problem in future.

You have a point to an extent.
Crypto is a very new type of currency.
15yrs is nothing compared to few thousands of years that paper money is being used, or even gold.
So BTC will stabilize in the future, maybe in 10, 20 or 50 years but that won't be enough for it to become a single world currency.
We don't have yet the single world currency because it would need one central bank that controls it. Every nation has it's own so it can control the economy and inflation with it.
In EU they have euro but every country has it's own fiscal policy and that's the reason that euro isn't doing very well.
Who would control, and how, the bank of BTC?
And why would we even allow that?
You said it, the BTC is probably going to live alongside national money and that's it.
But it can, and will be, used by the whole world because there is not obstacle for that.

it will enough for whole world. 21 million is just a number. if more peoples using bitcoin and the supply is not increasing anymore,
then the value will increased instead. it is supply and demand principal. current circulation is 17mil and will be more added by mining.

Correct! As Bitcoin is divisible by design, there's plenty of coins available for all the inhabitants of the world. The smallest unit of Bitcoin is a satoshi, which is a very diminutive form of a whole Bitcoin. Therefore, as I said previously, you can calculate how many Bitcoins would be available by just dividing 1 satoshi into the total supply of 21 million. This in effect gives you a result of a quadruple amount of Bitcoins in existence. So, even if Bitcoin's value rises to astronomical levels, it can be divided into smaller amounts for anyone to enjoy.

And, there's always the choice of altcoins which opens up the level of accessibility from everyday people into cryptocurrencies. In the end, there will be plenty amount of Bitcoins for everyone, but not everyone would be able to use the digital currency, as it is not scalable yet. But, once it does, Bitcoin will become a truly worldwide phenomenon. ;)

Yes, considering the global number of population, 1 Bitcoin for everyone is not possible but that's why the creator has introduced divisibility. As we know 'A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction.' and that is sufficient for everyone across the globe and the price will increase as per the growth in the demand so one should never worry about max capital. In fact, that is helping Bitcoin to sustain and increase its value.

Bitcoin to me is a digital currency which can be used as store of value , and on the 21mln total supply and if it can be use by whole world , yes it can cos people buy and sell Bitcoin everyday and more demand makes it grow in value which will makes people to only own Satoshi in future but those that own a Bitcoin then will be in money and more people will be looking to have it while it value will keep increasing .

According to my opinion the answer is can, because the maximum amount of Bitcoin as we already know is very much that is 21million ... And of course all countries must be able to use it, but it must be in what easy way they will have it ...

I like to think about 1 satoshi value as 1 cent in the future. In that way we have 21*10^6 bitcoins, each comprising of 10^8 satoshis (=cents) which makes 21*10^14 cents, same as 21*10^12 dollars. Obviously that amount of dollars can be used by the whole population.

I think it is being used all over the world, and many dark networks have used bitcoins for many years. There is no need to worry about its total size. It can be divided into very small units, and 1 bitcoins can be divided into many Satoshi. With the decline of bitcoin volatility, it will be adopted by more countries and companies.

Satoshi Nakamoto was a pure genius since he not only created a digital currency with limited supply, but also with the ability to expand itself into many units if it were to be necessary. As such, Bitcoin can be used for nearly anything we could think of since there will be plenty of coins for everyone to enjoy.

No matter if Bitcoin's value would be too expensive in the future, it can be divided into fractions of a whole Bitcoin, to allow anyone to use it. This is a huge benefit if compared against fiat currency, as different divisions of the cryptocurrency could further expand its use cases such as micropayments, colored coins, and more.

Therefore, I think that as Bitcoin fees become cheaper with new scalability upgrades like SegWit and Lightning Network, people can transact with even 1 satoshi in the future. So, even holding a single Bitcoin could give you 10,000,000 satoshi (that's ten million satoshis) which can be worth a lot of money by then. ;D

Yes i think it is enough. but peoples will use it in very small fractions because the price is very high.
i dont know why the developer of bitcoin decide 21 mil for its supply. bitcoin has the most volume on the crypto market despite the small supply.

You forgot about something.  ;)

There are currently millions of Satashi's coins that have never been touched and then you have loads of coins that were send to burn addresses. There are also people who has lost their paper wallets or hard drives and memory sticks with bitcoins on it.

At the rate that this is happening the total amount will be significantly less and we would come to a point where a decision will have to be made to divide a Satoshi in smaller units.  ;)

maybe it could be, because now there are many who use bitcoin, and I hope bitcoin can be a worldwide currency, because the bitcoin can help everyone.

The system of financial trust based on bitcoin will break down regional barriers so that all human beings can use safe, fast and reliable currencies. Hayek said that money is the greatest freedom that man has ever invented

yes you really are true bitcoin will not be used for major currencies across the country that exist in this world because when bitcoin has reached the maximum limit of the total supply of bitcoin available then the price of bitcoin will not be stable.

Bitcoin has the cap of 21 million, but also it is divisible to the 8th decimal place. Thus, there will be no problem that bitcoin can serve the whole planet, given that its price is sufficiently high. By the way, this is one of the reasons I think the price will be high eventually :)

Because of the limited number of bitcoins,
Only worth investing in people will be valuable.
And the value of Bitcoin lies in the technology of the blockchain, which deserves our attention.

Bitcoin supply is 21millions and have 100millions per bitcoin. Its mean bitcoin supply is 100millions*21millions because right now people trade bitcoin on sats volume.
On regulation i think its hard to make bitcoin as currency but as mathematical calculation, that could be happen

I think that this is a great feature of the Bitcoin currency, since its capabilities can be expanded to other things that were never thought possible before with real world currency. As such, Bitcoin is at the same time a finite currency, and an infinite currency for hundreds of uses in the world. Given that Bitcoin is designed to be divisible, there's a huge possibility that it's price will be much more expensive in the future.

Maybe by then, we'll end up paying satoshis of a Bitcoin worth a couple of dollars. Depending on current price, and the needs of users on the Bitcoin network, it can easily be divided into many more units (more than 8) if necessary. Therefore, that is one of the advantages Bitcoin has over traditional currencies, allowing anyone in the world to use it to their hearts desire. :)

Unfortunately yes, Bitcoin is capable of handling very many transactions but for a very large scale like "the whole world" could meet a deadlock because of its max cap. Maybe that's where the altcoin's role can fill the gap but it’s still gonna be very long to happen. This max cap is not what affects the interest of market merchants on demand of Bitcoin, for now the obstacle is its volatility, it’s still a scourge at the same time makes Bitcoin famous.

The problem about transaction speed that takes a long time will be no more soon because of Lightning Network has begun to develop, but don’t know when. The big problem is its horrible volatility, great for investors but not for its primary purpose as Cryptocurrency

I'm a bit doubting if Fiat will really perish or even transformed into another form, the digital world is no doubt in its development but still cryptocurrencies run using electronic technology and it requires electricity to work, 2 things that can be dangerous if relying entirely on Cryptocurrencies.

"Maybe by then, we'll end up paying satoshis of a Bitcoin worth a couple of dollars" :)
Maybe not, but my expectation would be that a satoshi is eventually worth 1 cent of a dollar, making one bitcoin effectively worth a million dollar, and it is actually an expectation and estimation of many other forum members as well.

I concur with you my friend. Even if the number of divisible units of Bitcoin won't be sufficient to meet the needs of people, there's always the choice of altcoins. In this sense, it could be said that cryptocurrencies are infinite, since they could be expanded to a huge user base, in contrast to government-issued currencies like the Dollar. This is a huge advantage that cryptos have, leading to a global economy where anyone can join or leave at will.

So, in the future, we won't need to worry if Bitcoin's prices rise to astronomical levels, since it can be divided to many units. By then, we might be dealing with satoshis of a Bitcoin, due to the high price Bitcoin will have. ;)

Are you talking about Bitcoin's scarcity when Bitcoin is fully exploited? Since then, the value of Bitcoin will be increased due to the law of supply and demand of the market? I do not think so. The first worldwide use of Bitcoins must be made by the governments of the rest of the world. However, this is very much dependent on the country manager. They have the right and the right to decide whether Bitcoin is lawful in their country. Then comes the other causes. With Bitcoin Maximum cap, it can not be asserted that Bitcoin will be used around the world.

Do you suspect that Fiat will completely disappear in the future when the electronic trading market will dominate the trading activity? I do not think so. The development and popularity of Bitcoin is undisputed, but the real value of Fiat is undeniable. Fiat may lose its popularity, but it is certain that Fiat will remain in the works of human society for a long time. Historic values ​​have proven that Fiat will not lose.

The current cap for bitcoin is nearly 148 billion us dollars but many people according to analysts at wall street say that the maximum cap for this currency is undecidable enormous but with guarantee can reach 1 trillion USD by the end of half a decade, major industrialists and capitalists also have a similar opinion.

The current supply of bitcoins in the market is approximately 40 million units but once it reaches 92 million coins which are exponentially increasing as more and more servers are involved in the mining of bitcoin the price value controlled by both demand and supply will only be controlled by demand, in short, exponential increase.

it can be used by whole world, because bitcoin has 8 decimals, called satoshis. Your opinion is not educated, so better do some research first. It's available literally for everyone..

Bitcoin is already being used as digital money now. it is not being used by the world because the whole does not accept it. even if bitcoin has no maximum cap if the world does not accept it, then it cannot be used by the whole world as money.

That means you can cost 1 Satoshi 100K USD because we do not have any next unit or breakdown of bitcoin and therefore it will become non-trading. That is the kind of question that may arise in the future. The concept of bitcoin is still new to everyone. That is why the maximum limit is limited to 21m bitcoin. So do not worry.

Irrespective of the number that how much it can be mined let’s say 22 million but still there are other ways and factors in which bitcoin can be used. Bitcoin is very sustainable crypto currency and bitcoin can be use in other ways other than mining also. Bitcoin is a type of crypto currency and is a circulating crypto currency and let’s say if if it has reached maximum point then it can be circulated among people and it is a type of crypto currency that can be use by the entire world.

That means you can cost 1 Satoshi 100k USD because we do not have any next unit or breakdown of bitcoin and therefore it will become non-trading.

It's true that Bitcoin's price will rise over time, as demand surges among everyday people. While the limited supply of 21 million coins in existence might not seem enough for everyone around the world, it's all the contrary since Bitcoin is a highly divisible currency unlike traditional real-world currencies we've been accustomed to for quite a long time.

Maybe, in the future we might be dealing with a Satoshi, instead of Bitcents, since prices will be a lot higher than what they are right now. By that time, Bitcoin would've scaled to handle millions of transactions per second, allowing anyone to make use of it regardless of the region or place in the world. In theory, Bitcoin is at the same time a finite and infinite currency since it can be expanded to billions of units of a single Bitcoin, while preserving its value (unlike the Dollar, Euro, and other real-world currencies). Therefore, it can be used by the whole world. ;)

Our attention. As such, Bitcoin is a finite currency, and an infinite currency for hundreds of uses around the world. Maybe at the time, we will end up paying for a bitcoin worth a few dollars. Therefore, it is one of the advantages Bitcoin has on traditional currency, allowing anyone in the world to use it for their desired heart.

I see no problem with Bitcoin having a maximum total supply. After all, with Bitcoin's supply, we are assured that it will not be manipulated by someone powerful who has the access to it. Unlike with fiat money, we really know nothing about its supply and value creation. At least with Bitcoin, the supply is fixed. In addition, Bitcoin has a total of 8 decimals. It has a lot of leeway even if a single Bitcoin will reach $100,000.