Bitcoin Forum

Fun topic! :P

The population will continue to grow at an exponential rate. Demand will grow for Bitcoins and other cryptocurrencies, uncertainty will grow in the Stock and Real Estate Market. This is creating the perfect storm for increased purchasing power for BTC.

Due to its rarity and world population boom with many of them being un-banked, there only option will be Bitcoin and other crypto's!  ;)


UPDATED 5-18-2017

Thanks for all the great replies to this thread! I admire all of your thoughts. There plenty who agree and disagree as expected. Even if only a small portion of the world economies invest and utilize Bitcoin, those strong holders and users will continue to accumulate more on an ongoing basis.

I accumulate mBTC's daily. About $5 per day automatically after accumulating my core position between $250-$450 per Bitcoin, so I am pretty happy overall. I don't think about the price. I am in this for the long haul and using Bitcoin's momentum to build my purchasing power. By the time I sell/trade my Bitcoins it will be to buy Real Estate to rent when it's extremely undervalued for more cash-flow to again invest in more Bitcoin. Or I will loan out my Bitcoins for continued interest rate of return.

David BTC Silverspoon
~He Who Own Bitcoin, Makes The Rules!

7 Billion is the world population according to United Nations as of 2011 and there's only 21 Million Bitcoin capped according to this site https://www.quora.com/How-many-Bitcoins-are-currently-in-circulation so if that is the case then there's only 0.003 BTC available for every one in that 7 Billion. That is if my calculations are correct.

More than half of the population thinks bitcoin is an evil pyramid ponzi scheme destined to fail due to lack of bank overlord regulation.

Feel free to be conservative with those estimates.

 :D

Well, let's be a bit more fair and say that Bitcoin becomes popular with the entire population with internet access, so something like 40% of the world population, or 3.2-ish billion people, and remove the rest since they can't effectively use Bitcoin.
You're looking at something like 1 BTC per 125 person, which is still a small amount, however it is less large than the 1 per 357 figure.
Maybe in the future with a sort of hyper-connected world (if we get that far) we can see that number increase, but for now I think we still have >1 BTC/person in the Bitcoin community.

1 in 357 LOOOOOOOOOOOOOOOL

It is a pozi and you don't even see it.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This is the death blow to universal acceptance, greed.

I don't think these kinds of numbers should even be surprising to anyone, and this makes a ton of sense and honestly I wouldn't expect for it to be any other way.
However, looking at the chart they provide, having a majority of wallets with next to nothing in them isn't something that really means anything since people use different addresses or they have something more than $2 of Bitcoin in their address. As SOON as you pass $1.68 (now) in your wallet you become part of the 99%.
Weak chart, proves nothing special. I'm part of their 1% off of this.

Now work out how many satoshi per person and try again. Then factor in a hard fork in the future with twice as many decimal places giving us .0000000000000001 BTC as the smallest denomination and try again.

It is not surprising because it is exactly how the world economy works and we are rallying against the elite when in fact the BTC situation is IDENTICAL!

It is disgusting and honestly heart breaking to see clear as day that the limitations are in place for a small towns worth of people to get ultra rich then the house burns down, mine as well be fiat at this point in the long run.

The real advancement here is the tech, the chain NOT the BTC.

Similar topics have been brought up several times. If my calc is incorrect, I'm sure someone will correct me.

A satoshi is this part of a bitcoin = 0.00000001.

This means that there are 100,000,000 satoshi's for each bitcoin.

This means that when all the bitcoins have been mined, there will be 2,100,000,000,000,000 satoshi's around.

If there are 10,000,000,000 people in the world at that time, there will be on average, 210,000 satoshi's per person.

If a satoshi is comparable to a peny, each person will have, like $2,100.

If this isn't enough, the devs of future Bitcoin clients can divide the satoshi as greatly as necessary.

Take a look at http://gizmodo.com/5995301/how-much-money-is-there-on-earth, and do the calculations to see that there is a lot less money around now, than there will be in satoshi's once bitcoins are all mined.

8)

...

I don't think that ratio is going to work out the way you might think.  It will already be sometime (years) before total BTC population reaches 18 - 20 million...  Plenty of time for a new technology (perhaps an "Alt") to come along and dethrone BTC.s

Plenty of time for clever hackers or hostile governments to come along and bust things up.  Think that .gov can't hurt (maybe not kill but severely damage)?  How about banning easy buying and selling?

Thinking too long-term re concentration in Bitcoin probably is risky....

I will want to disagree with you analysis as per the topic of the thread based on the following:

1.  Not everyone in world will have access to bitcoin. Because that population you quote involves the old people in far Asia or Africa who in their entire life have to access to the internet in which bitcoin solely relies.

2. The crypto space is not a socialist system where everyone is to one thing no, but rather a callitalist system where if I can afford 100btc I can go for it and another person might not be able to afford just 1btc.

i had to double check the date of this comment before say anything :D
at this point in time nobody thinks bitcoin is a pyramid ponzi unless they are an idiot. the days of thinking bitcoin is a ponzi is for back in the earlier couple of years and those days are long gone.
and it was mostly because nobody knew bitcoin and on top of that there was no place to spend it, so nobody got the feeling of the currency part.

now look at Japan, they are the living proof that bitcoin is a legit currency. that is why i said they are idiots.

Youll just be right if and only if all 7 billion people living in our planet earth will use and adopt bitcoins as their store of wealth or investment.And if all 7 billion people have acces to the internet which seems impossible specially for remote areas in the world

The theme sounds very original. But there's nothing to do with reality because I'm completely sure that Bitcoin will not be popular among mankind. All people will use real money and
 Bitcoin is the currency for a particular society of people. So do not look at the number of people on the planet and the number of Bitcoins that have a limit.

There are a few billion people on this planet that have no access to education, food or water so although it averages out like you say, in reality things are very very different. I do believe though the gap will narrow as more people begin to have access to technology, like mobile devices in developing countries. This may  bring more and more people to Bitcoin than previously anticipated.

1 for every 357 is more than enough when bitcoin will reach astronomical value such as 100k-1M range in $

357 people would get almost $3k out of it, i fidn that bitcoin might help the economy distribution better than fiat in the future, because the poorer who buy now will be richer in the future

and the richer can't buy many or there won't be enough for the pooerer to buy and help the value increase, it's a win win situation

The theory is flawed in so many ways. A big percentage of these people are kids or elderly people, who have no clue about Bitcoin. A large percentage of the remaining people are totally illiterate or they have no internet access. < rural areas >

I would guess almost 2 million bitcoins are lost already and some coins are not even mined yet. A very large percentage of the remaining coins are being hoarded and not available to be distributed or up for sale. ^hmmmmm^

Once bitcoin will reach high prices and get an interesting number of users, people will make their deals with mBTC so often then with satoshis and so on...  ;)

You are really right and if without pride there are not those results of the prices that predict and this amount is not only $ 10,000, but there are forecasts and up to $ 100,000 for 1 Bitcoin But this will be after a certain number of years. Then it is really Satoshi who will need to equalize the number of people, not Bitcoin.

Indeed, it took me some time to realize that, but the basic religion of bitcoin, which is deflation, is what is making it impossible for this thing to ever become a widely accepted currency.  The seigniorage of the early adopters is so tremendiously large that this is never socially acceptable, and moreover the deflationary spiral in which it is falling (on purpose), is turning this in a very highly speculative asset.  That said, without this, nobody would ever have heard of it because one wouldn't have the starry-eyed dream of getting rich quickly without it.  So probably Satoshi had no choice but to make a would-be currency that turns into a speculative asset and leaves its "universal currency" dream behind it, on the head of the useful idiots that got it running.

You didn't factor in population growth in the next 120 plus years and the number of bitcoins that are being lost along the way. The technology in that period of time is surely going to change drastically and only our great great grandchildren are going to witness whether bitcoin or fiat or whatever the currency is by that time.

There will be a lot of factors to consider before we can say that everyone want's to have a Bitcoin or at least a Satoshi. Keep in mind that not every part of the world have internet access so for those who doesn't have access to it you can count them out of the equation. Another thing that we need to consider is if Bitcoin is allowed in that Country, if not then count them out as well. Lastly is if Bitcoin is accepted in that Country, accepted meaning there are merchants and exchanger's in that Country, if there's none I don't think that will add an appeal to Bitcoin for it to be wanted by a person.

You better recalculate. Some of us have more than 1.

Probably when all bitcoins are mined it possible that more than 7 billion people will use bitcoin but to do that it would be hard so I guess we need not to worry about it now since no one can really know how much one can have since there will always be a person that have more bitcoin and the one with lesser amounts and population grows fast so computing now how much every people will have in the future is pointless.

Do we really have to account for more than 1.5 billion people without even food and water to drink in order to survive, having internet access and enough body strength being able to think about something else?

Are you going to count the elders, infants/ disables/ and generally a few billion people which care for nothing not even their own fate?

You forgot the indifference people, unshaken by any thing other than breeding, working/ eating/ sleeping just to live their time and calculating even seconds to see when they'll die to be rid of their miserable lives?
Strikethrough my parents in the list to see how many we're left with :D now you want to add a few zeros and break 1 satoshi further into millisats?

Don't get me started about altcoins shills and bitcoin haters and government's employees and bottom feeders of armies and all which are quite comfortable with their fiat currencies?

Great analysis! Totally makes sense. I wanted to express the scarcity and demand factors of Bitcoin and why it programmed to increase in value over time vs fiat paper money which is programmed to decrease in value over time.  :-X

David BTC Silverspoon
~He Who Owns Bitcoin, Makes The Rules!

Everyone in this forum will be rich :). Meaning we win and the government lose... about damn time...