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Author Topic: Was bitcoin designed to be global?  (Read 4503 times)
krishna1
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October 11, 2016, 05:49:40 PM
 #41

if we have a second version of it then it will generally be called an altcoin and nothing is better than this 21million btc thing yes it looks very small amount but it will be adjusted by time because there are already many altcoins avalible in the marker so when btc will be full then users will start using alts

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BitcoinSupremo
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October 11, 2016, 07:16:01 PM
 #42

Bitcoin is so perfect that we don't need a second version. It is designed to be a global currency since it can be divided in to many commas like 0,00000001 btc for example. 21 mln coins are enough that everyone who may want and for sure will be using bitcoin after 40 years or so will have the chance to have his fair cut of bitcoins.

The real problem is we should not think for 40 years after when we don't know if will be alive by that time. We should  just enjoy bitcoins in our time and making our lives better with it.
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October 12, 2016, 07:02:10 AM
 #43

I think bitcoin was designed to be global. It was designet to be used on the internet and internet is global thing. So bitcoin's creators knew that one day it will be known in many countries and used.
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October 12, 2016, 07:29:15 AM
 #44

if we have a second version of it then it will generally be called an altcoin and nothing is better than this 21million btc thing yes it looks very small amount but it will be adjusted by time because there are already many altcoins avalible in the marker so when btc will be full then users will start using alts

This doesn't make any sense. 21 million coins is more than enough to suit the needs of people using Bitcoin as currency and as investment, etc. The higher the price goes, the lower the amounts will be that people can afford. Don't forget that 1BTC can be divided into 100 million smaller pieces (satoshi's).
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October 12, 2016, 07:55:54 AM
 #45

Don't forget that 1BTC can be divided into 100 million smaller pieces (satoshi's).
That must be a scenario of what we are having right now. Fortunately, bitcoin is divisible even further to go flexible for the requirement of minimum possible unit to be transacted. (When one satoshi hit value of $1, we need smaller unit to transact $0.01). Basically bitcoin system will be able to have unlimited number of units, so that bitcoin can serve to any volume of people.
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October 12, 2016, 08:11:06 AM
 #46

Absolutely, bitcoin is designed to be global because it is decentralized and no person is operating it so you can ensure that it is real and no personal interest will be serves, with bitcoin we are united here for one purpose, to spend and earn at the same time taking advantage on the early stage of bitcoin.

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October 12, 2016, 08:37:36 AM
 #47

Given the fact that there are only 21M bitcoins, one could wonder if bitcoin was designed for a few selected or first few adopters and not to be a global currency in a world with +7 billions people.

What happens 40 years from now when most of the people on earth turn to using crypto currency? simply use alt coins when they see bitcoin already in hands of a few hundreds people and not wanting to be manipulated by them or even by 1m coins of satoshi?

Can't we have a second version of same code with same team and the same credibility developing it?


I don't think it would be much of a problem even if all the money in the world would be replaced by Bitcoin.

Let's see what would happen if it would be the case right now.

We have roughly 5 trillion USD worth of circulating money and around 15 million Bitcoins. If we'd replace all the money with Bitcoin the price of 1 BTC would rise to $333,000 and since 1 BTC = 100,000,000 Satoshis we'd have the situation when 300 Satoshis would be equivalent to 1 USD, or in other words the minimum you can pay for a thing would be $0.003.

Although I know that there are countries where "everything is cheap" I doubt that you can find a thing there which costs less than $0.003.

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October 12, 2016, 11:37:05 AM
 #48

Yeah I do think that Bitcoin was designed to be global because they have made use of the internet and almost all people in the world have access to the internet. They knew what they were doing when they started with Bitcoin and launched.
It has become pretty popular and I think that in the future it is even going to be more popular around the world.
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October 12, 2016, 11:46:08 AM
 #49

Given the fact that there are only 21M bitcoins, one could wonder if bitcoin was designed for a few selected or first few adopters and not to be a global currency in a world with +7 billions people.

What happens 40 years from now when most of the people on earth turn to using crypto currency? simply use alt coins when they see bitcoin already in hands of a few hundreds people and not wanting to be manipulated by them or even by 1m coins of satoshi?


The more people using Bitcoin, the difficulty of the mining will increase that will make the price higher. Which means we will never running out of Bitcoin, so you actually shouldn't worry about that.


But however, this might happen. But about the same team, I think it won't happen because satoshi is still missing.
Can't we have a second version of same code with same team and the same credibility developing it?

faucet used to be profitable
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October 12, 2016, 01:34:31 PM
 #50

It is. Banks are global. As I read to some analyst, they say one reason is to change the banks method of transacting money. I think satoshi have a bigger insight to what it can do more. But we are left with bitcoin and we should take care of the rest.


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October 12, 2016, 01:53:15 PM
 #51

Most probably, yes. Bitcoin is designed to be a currency on the Internet and any one in the world can access the Internet. Thus, people that are far away from each other can send Bitcoins to each other. It was designed to be used globally and every single human being has the rights to use it. Maybe that is why you can hide your identity very easily when using Bitcoins, so even if your government bans you from using it, you still can.

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October 12, 2016, 02:07:20 PM
 #52

I dont know how you can call it becuase they are not gettign global i dont thjink allot of north coreans are using the bitcoin you know and that is just becuase i know that
they are not able to use it while the president of them is using it.
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October 12, 2016, 02:19:32 PM
 #53

explicitly. didn't bitcoin mentioned that to send  the bitcoin anywhere of the world?
second version is called dogecoin already, so it is other matter.

Aside from being quite supported by many, I don't see any other pros that dogecoin has to be entitled as "second bitcoin".
There is no really second bitcoin yet for me as of now.

Yes! I do agreed with you, Bitcoin will always be still a bitcoin. It is true that in our time now I don't see any signs of second bitcoin. because still there is a big difference gap in the price from Bitcoin vs. altcoins.
AicecreaME
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October 12, 2016, 02:47:26 PM
 #54

I think it is possible to be global, to be used by the billions of people around the world. During our software freedom day way back when I was in second year college, the speaker said that bitcoin is going to be the future money, that' why I believe that it is possible to be global and not just only for some people who is using it for a long time.

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October 12, 2016, 02:55:29 PM
 #55

Don't ask! It's a fact, BTC is global now, in a sense that you can use it as easily in Europe, Asia or America. There are enough BTC for everybody. Nobody said you have to own one full BTC to be part of the community. Scalability is more of an issue the number of transactions the network can handle per day).

If you're looking for a trading/lending place, better avoid Poloniex, as it socializes losses. Learn more about it on this topic.
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October 12, 2016, 02:59:25 PM
 #56

When bitcoin hits $50000 per coin if you held 1M coins you'd be rich as hell Smiley
No one putting much cash in bitcoin they only mine it and play with small paper money amounts like few billion bucks, it ain't global yet.
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October 12, 2016, 03:08:44 PM
 #57

if we have a second version of it then it will generally be called an altcoin and nothing is better than this 21million btc thing yes it looks very small amount but it will be adjusted by time because there are already many altcoins avalible in the marker so when btc will be full then users will start using alts

Its indeed hard to say I think that the bitcoin is now still the biggest and will stay this but on some point the alt are gonna take it over.
The bitcoin is designed for some part globally in my eyes.
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October 12, 2016, 03:13:39 PM
 #58

I think bitcoin was designed to be global.
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October 12, 2016, 03:35:32 PM
 #59

i do not think it is made for the global but maybe it can somehow can manage that much pressure well i have a idea that if we use bitcoin only for transfering porpose and not for storage porpose then maybe we can solve this issue

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October 12, 2016, 03:52:11 PM
 #60

The number of Bitcoins isn't important matter although 21M is great number, you can see that some casinos and sportsbook deal with 1m BTC, this can be a new standard if Bitcin price reached much higher price, you can compare it to the Gold, when we buy gold we buy X number of grams, and yes I think it has been designed to be used globally, because the target of Bitcoin is that no one can control the network, so it is open for everyone.
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