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If bitcoin is overpopulated how will it stop to limit the users?
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Topic: If bitcoin is overpopulated how will it stop to limit the users? (Read 423 times)
laryillary
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 23, 2018, 07:10:11 PM
#41
The Bitcoin system is unique in that only 21 million bit-coils can be created. However, this will not be a limitation, because transactions can be denominated in small denominations - for example, in bits - every bit is one millionth part of bitcoin. Bitcoin is divided up to 8 decimal places (0.000 000 01) and potentially even further, if this is required because of the decrease in the average transaction size.
Kray
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 23, 2018, 07:11:55 PM
#42
Overpopulated is not always a bad thing, especially in a trade. Do you understand the basic principles of the market, the supply and demand? Overpopulated means very high demand, so it's a good thing for Bitcoin because the price is going to rise and everyone will be happy.
Ulan01
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 24, 2018, 12:23:02 PM
#43
bitcoin is a digital asset and currency of the future. this is a treasure that anyone can have, meaning there is no ownership restriction, so I do not think there's a word of overpopulation. for the bitcoin made, so everyone has it.
pisston
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 24, 2018, 12:32:18 PM
#44
Quote from: potatocrasher69 on March 15, 2018, 02:40:03 AM
How bitcoin will prevent overpopulation?
Overpopulation? But how does bitcoin know the whole world if you restrict visitors? We all want that everyone knows about bitcoin and at the same time talk about overpopulation? As it all is not logical
I think that it is necessary to attract more people to bitcoin.
dothebeats
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 24, 2018, 12:39:24 PM
#45
What kind of overpopulation? Frankly, I think that the more people holding the coins, the better, because it promotes better wealth distribution compared to a few businessmen and geeks just holding the coin. If you're talking about network congestion and a proper scaling solution, that is now in the works through LN which, hopefully, would help bitcoin scale when bitcoin goes big. Also, it wouldn't be a nice concept if an open-source code controls how many users can only hold coins.
YzzyGo
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Re: If bitcoin is overpopulated how will it stop to limit the users?
March 24, 2018, 12:46:56 PM
#46
While I am against overpopulation, having many user to access and use bitcoin is quite helpful for the community in spreading it. More people using it, the higher value of bitcoin will be. Given that some will use it for bad reasons, we can't do anything about it.
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