donbu7 (OP)
Member
 Offline
Activity: 119
Merit: 10
|
 |
November 15, 2013, 02:58:16 PM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
|
|
|
|
|
piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
|
|
November 15, 2013, 03:28:32 PM |
|
how did you manage to leave the newbie section without reading an FAQ on bitcoins I wonder? Go here and read all: http://bitcoin.org/en/faqto answer your immediate question - yes, bitcoins, being code, are infinitely dividable (up to 0.00000001, called 1 satoshi, and can be easily extended if needed). but really, read faq before asking any other questions. |
i am satoshi
|
|
|
|
Johanna
|
|
November 16, 2013, 03:00:42 AM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
I remember the creator mention that it can go lower then 1 statoshi... |
|
|
|
|
Sindelar1938
|
|
November 16, 2013, 03:09:29 AM |
|
Yes, the protocol can be extended beyond the eight zeroes if needed..
|
|
|
|
|
MilesJohan
|
|
November 16, 2013, 04:48:47 AM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
Thats what alt-coins are for  |
MileyJohanson
|
|
|
Peter R
Legendary
Offline
Activity: 1162
Merit: 1007
|
|
November 16, 2013, 06:07:10 AM |
|
Satoshi chose his numbers very carefully. A reasonable "extreme upper limit" to BTC valuation could be to say that BTC has a market cap equal to the combined M2 money supply of the USD and Euro. To make the math easy, lets call this 21 trillion USD. That means each coin is worth about a million dollars. Since each bitcoin is divisible by 100 million, 1 Satoshi is still only worth a penny. So even if bitcoin is *successful beyond our wildest dreams*, the resolution is still fine enough to facilitate the vast majority of financial transactions.
|
|
|
|
|
Rupture
|
|
November 16, 2013, 06:33:29 AM |
|
The chance that those units of bitcoin will be used in our lifetime is slim.
|
|
|
|
|
|
Feneusens
|
|
November 16, 2013, 07:55:00 AM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can split as much as you want. It can even go as small as 0.0000000000000000000000000000000000000001. |
|
|
|
Blueberry408
Member
Offline
Activity: 97
Merit: 10
One American Sumbitch Which Love 8
|
|
November 16, 2013, 01:31:52 PM |
|
As long as everyone on the network switches to an agreed upon arbitrary data structure to work with such long numbers. If less than everyone agrees to mosey on over to the new abstraction structure, it would be complicated. let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can split as much as you want. It can even go as small as 0.0000000000000000000000000000000000000001. |
Feel free to send along any spare floating point remainders: 1CVTqVbqHTw35xGKfp4vmxggKdkMVwswtr
|
|
|
|
MarketTime
|
|
November 16, 2013, 05:08:35 PM |
|
As long as everyone on the network switches to an agreed upon arbitrary data structure to work with such long numbers. If less than everyone agrees to mosey on over to the new abstraction structure, it would be complicated. let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can split as much as you want. It can even go as small as 0.0000000000000000000000000000000000000001. What do you mean? I though the creator can split whenever he wants so he don't really need everyone's permission right? |
|
|
|
|
|
cdtc
|
|
November 16, 2013, 06:04:47 PM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can be easily extended so there is no problem there. |
|
|
|
|
BitchicksHusband
|
|
November 16, 2013, 07:36:28 PM |
|
As long as everyone on the network switches to an agreed upon arbitrary data structure to work with such long numbers. If less than everyone agrees to mosey on over to the new abstraction structure, it would be complicated. let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can split as much as you want. It can even go as small as 0.0000000000000000000000000000000000000001. What do you mean? I though the creator can split whenever he wants so he don't really need everyone's permission right? It's an open source program, so everyone on the network would need to agree at the same time. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
|
|
|
pabloangello
Legendary
Offline
Activity: 1344
Merit: 1001
|
|
November 16, 2013, 08:09:39 PM |
|
let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
People (especially developers) are smart enough to make it work for everyone  |
|
|
|
|
lucaspm98
|
|
November 16, 2013, 08:32:11 PM |
|
We can split it as much as we want, but there really isnt a reason to split it anymore yet.
|
|
|
|
|
Corenin
Legendary
Offline
Activity: 1008
Merit: 1000
|
|
November 17, 2013, 12:10:32 AM |
|
As long as everyone on the network switches to an agreed upon arbitrary data structure to work with such long numbers. If less than everyone agrees to mosey on over to the new abstraction structure, it would be complicated. let´s suppose that BTC gets so popular all over the world that you can even buy everything in all over the world with BTC, the question is since BTC is a currency limited (21 million by year 2140) the BTC will have to split into .000000000001 for instance? or how is it going to work? if all the people all over the world will use BTC?
Regards
It can split as much as you want. It can even go as small as 0.0000000000000000000000000000000000000001. What do you mean? I though the creator can split whenever he wants so he don't really need everyone's permission right? It's an open source program, so everyone on the network would need to agree at the same time. I don't get it either, how people agree or disagree? Is it like a poll or something? |
|
|
|
|
|
