How many coins would a digi. currency need when it is used worldwide by eveyone?

[n2004al]

Question without answer in a certain meaning. In the meaning that never will be possible to know it for the all the world. It is only one way but even this may not be true because to many countries lies with their data.

Normally would be the sum of the price of all the goods in the market in all the world in one given moment. But in the other one the goods will change (maybe price, maybe amount, maybe variety) and new goods may be in the market. Even not maybe but for sure. So the amount needed need to be changed.

Normally within one nation are predictions that predict the amount of currency in the market in with those are occupied the economist. And are the monetary policies (applied by them) which determines the amount of currencies in a certain period in a country. To speak about those is not easy and cannot be a post that can be enough for that. If you want to learn a little more you can read this: https://en.wikipedia.org/wiki/Money_supply

[randy8777]

First, 0,0000000001 does not exist. Bitcoin only has 8 decimals.
You should not think in decimals at all. It matters which term you use. Lets say you want to buy 1 Satoshi, so it's 0.00000001.

You can divide 1 BTC in several units which are all without decimals.
100,000,000 Satoshi or
1,000,000 μBTC or
1,000 mBTC

My guess, in the future, we will think about more in this three units instead in Bitcoin.

Its just ugly to buy an egg for 0,0000000001 something like 0,5 would be better.

i guess we'll find it more useful to at some point only use mbtc. it looks better than splitting everything into satoshi's and it's easier as well.

[Miss Fortune]

I like the idea of bitcoin, but buying an egg for 0,00000000000000000000000000000001 in 50 years is kind of stupid. In my opinion a digital currency needs the capability to be useable by everyone world wide and it should be possible to use one coin to buy something small like an egg. How many coins would a digital currency need if every person on this planet would use it?

Is there already a digital currency that could accomplish this?

When it has to be used by everyone around the world I think it would a lot of coins. But there with digital currency I think nothing impossible.

[mordekaiser]

I like the idea of bitcoin, but buying an egg for 0,00000000000000000000000000000001 in 50 years is kind of stupid. In my opinion a digital currency needs the capability to be useable by everyone world wide and it should be possible to use one coin to buy something small like an egg. How many coins would a digital currency need if every person on this planet would use it?

Is there already a digital currency that could accomplish this?

Probably a lot more coins that is needed, I cant wait for it to happen when everyone is using this worldwide I think purchasing is a lot easier.

[1Referee]

You have to face the reality that there are people simply not interested enough in Bitcoin to actually use it. I'm sure the current Bitcoin userbase will grow and see a rise of perhaps x10 or x20 compared to now. But then again, even if you realize these x10-x20 gains, Bitcoin will still be a small economy. mBtc is more than enough to serve & satisfy the users in the longterm.

[Slark]

Bitcoin could only be divisible to 0.00000001 So it is not that bad as having 20 zeroes. But still you probably won't be counting this yourself like you are counting your paper money, but instead you would be using an app to pay for groceries, so I really don't see a problem here.

[coinplus]

I think cheapest thing that you can buy with bitcoin is around 0.001BTC or 1 mBTC
But, we'll think another short name for 0,00000000000000000000000000000001BTC when bitcoin become very popular, maybe 1x10^-32 or 10 yocto-satoshi

Maybe we will call 1BTC as mountain of diamond

Yes. I agree with you. This is highly possible to happen. Because bitcoin is divisible into any number of decimals.
So, theoretically bitcoin is already with enough number of units to serve everybody in the world regardless of how many people  would be in the population of world.

[mookid]

I like the idea of bitcoin, but buying an egg for 0,00000000000000000000000000000001 in 50 years is kind of stupid. In my opinion a digital currency needs the capability to be useable by everyone world wide and it should be possible to use one coin to buy something small like an egg. How many coins would a digital currency need if every person on this planet would use it?

Is there already a digital currency that could accomplish this?

In a weird way, I have to sort of agree with you on this. It has been a struggle to teach most people, including children the 2 decimal places in most of the fiat currencies today. The complexity of 8 decimals are a bit complex for most people.

On the other hand, it seems as though people are more clever than we think, when it comes down to money matters.

Let's take Zimbabwe as a example... On the 15th of June 2015 ...  35 quadrillion Zimbabwean dollars were equal to US $1 {Most people cannot even count to 1 million}

I bought one of these notes for $5 as a novelty item, to remind me, how fiat currency can collapse.



Most people did not do the physical math, they just refered to these notes in colors..or they gave them nicknames {Give me 4 of the blue notes} They also gave sweets & candy as change, because the minting of the coins is too expensive.

In 2008 the monthly inflation rate hit 3.5 million percent with an egg costing 50 billion Zimbabwean dollars.

On 12 June 2015, the Reserve Bank of Zimbabwe said it will begin a process to demonetise the Zimbabwean dollar, to officially value the fiat currency at zero.

In summary, it looks like people could adapt to changes like these, if they are forced to... BUT workarounds would quickly occur to make it easier to understand .

Look at the serial number of that bill, you see the double A? it means that there is huge number of bills in circulation, and the Central Bank ran out of letters (from A-Z) to use, so they add another one.
This sort of thing is happening right now in my country (Venezuela) as we reach hyperinflation. Very, very sad.

[n2004al]

I like the idea of bitcoin, but buying an egg for 0,00000000000000000000000000000001 in 50 years is kind of stupid. In my opinion a digital currency needs the capability to be useable by everyone world wide and it should be possible to use one coin to buy something small like an egg. How many coins would a digital currency need if every person on this planet would use it?

Is there already a digital currency that could accomplish this?

In a weird way, I have to sort of agree with you on this. It has been a struggle to teach most people, including children the 2 decimal places in most of the fiat currencies today. The complexity of 8 decimals are a bit complex for most people.

On the other hand, it seems as though people are more clever than we think, when it comes down to money matters.

Let's take Zimbabwe as a example... On the 15th of June 2015 ...  35 quadrillion Zimbabwean dollars were equal to US $1 {Most people cannot even count to 1 million}

I bought one of these notes for $5 as a novelty item, to remind me, how fiat currency can collapse.



Most people did not do the physical math, they just refered to these notes in colors..or they gave them nicknames {Give me 4 of the blue notes} They also gave sweets & candy as change, because the minting of the coins is too expensive.

In 2008 the monthly inflation rate hit 3.5 million percent with an egg costing 50 billion Zimbabwean dollars.

On 12 June 2015, the Reserve Bank of Zimbabwe said it will begin a process to demonetise the Zimbabwean dollar, to officially value the fiat currency at zero.

In summary, it looks like people could adapt to changes like these, if they are forced to... BUT workarounds would quickly occur to make it easier to understand .

Look at the serial number of that bill, you see the double A? it means that there is huge number of bills in circulation, and the Central Bank ran out of letters (from A-Z) to use, so they add another one.
This sort of thing is happening right now in my country (Venezuela) as we reach hyperinflation. Very, very sad.

With this fact is connected one of the best qualities of bitcoin. Bitcoin is not inflationable because of the exact number of coins which are and will be always in circulation and for the fact that this number is always well known. For this quality can bitcoin be considered as a very strong currency. To tell the right this may cause problems if it will be the only coin of one country but are difficulties that can be overcomes. Even this cannot be sure always because are to many the factors which must and need to be taken in consideration