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Author Topic: BTC has too few coins to function as a global currency.  (Read 3211 times)
serjent05
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October 20, 2016, 04:34:27 PM
 #81

No bitcoin has 210000000000000 Satoshi which is more than enough for whole world. And each person could hold more than 100 Satoshi at a time. And when there will be crisis then obviously price will rise up and we will have a time when we will use Satoshi instead of bitcoin. So then there would be no crisis of bitcoin.

lol that is too many zeros in there to be too few to function as glbal currency 2 100 000 000 000 000.  That is how it look if we took the satoshi unit as 1 measurement.  Now thell me is it still too few?  I think no.  And the number is just fine to be use as global currency. It was planned ahead of time.

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October 20, 2016, 04:47:42 PM
 #82

BTC has too many decimal houses to make it work as a global currency. 100.000.000 satoshis are 1 BTC. And each satoshi can values more in the future if Bitcoin price rises a lot. It's possible to introduce many people using Crypto-Currency and making many transactions at same time without problem. It was very well developed, don't worry about it.

 
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October 20, 2016, 05:26:24 PM
 #83

yes it does have low amount of total coins but that is being pre fixed by satoshi . i think there must be either a reason or satoshi himself never imagined that bitcoin will became so much popular

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October 20, 2016, 05:37:06 PM
 #84

We all know and believe that the future of bitcoin will reach a point that demand and supply will make the price, knowing that bitcoin has a limited supply i do believe the price will go up a lot, but the thing is when this will happen. I do believe bitcoin its ready and its already a global currency, the total coins into circulation are more then enought.
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October 21, 2016, 09:51:26 AM
 #85

We all know and believe that the future of bitcoin will reach a point that demand and supply will make the price, knowing that bitcoin has a limited supply i do believe the price will go up a lot, but the thing is when this will happen. I do believe bitcoin its ready and its already a global currency, the total coins into circulation are more then enought.
I agree with you. I think that the price will increase in thus BTC will become able to be global currency. About transaction fee OP was trying to say... I didn't think about it actually. I don't know: is 20 000 satoshi a fixed fee that can't be changed? If it isn't then 1 satoshi may become a new fee in the future.
I think there is a problem BTC will face on its way to becoming global: different states will try to make it their. And I am thus not sure if BTC would be able to stay independent.

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October 21, 2016, 10:11:14 AM
 #86

Yup that is the point exactly I was talking about. 21,000,000 ain't enough too function as a glob currency not unless someone Quadrupled its quantity but doing that will decrease its value that I think it will be like  valued as a regular fiat money. Also I am satisfied on the development of Bitcoin they are currently in.
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October 24, 2016, 05:04:43 PM
 #87

How is this still going? Check the link below and discover the infinite magic of decimals.
https://en.wikipedia.org/wiki/Decimal_mark

You will see that 1BTC is infinitely divisible and more than enough to replace all the worlds currencies. If you are still unclear then consider whether 1.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 1 is a big enough number.
If not, I can add more zeros. As many as you like.

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October 24, 2016, 05:10:50 PM
 #88

if the size of its blockchain  is solved ,i suppose bitcoin can still scale the hurdle of transaction fees
I think transaction fee will be not be a big issue as miners can process transaction with even few satoshi fee if bitcoin price become 1000x than it is right now.
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December 05, 2016, 09:27:52 PM
 #89

It wasn't meant to be global.

Only the off shoots known as altcoins were supposed to be the global currency.

Similar to how gold is not a currency and the masses get the dirty paper.
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