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boyptc
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March 16, 2017, 07:35:55 PM |
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If there are a lot of potential investors that are going to come in the future then I can say that 21 million bitcoin is enough for the whole world. Because I know that not all the population of the world will be getting in bitcoins. Less out those burned coins still that can cater the people in the world that are using bitcoin no matter what.
In future there might be more potential investors. 21million is very small compared to the entire population around, so only with the increased price and denominations the bitcoin network can serve the entire world for the better. Yeah that is what we will exactly see when all 21 million bitcoins has been mined. Plus those coins that are sent to the wallet that are lost forever, there's no way to recover it. That will make the demand higher because of those coins because they are reducing the quantity of total coins in the market, so a fact that price will become higher. |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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Raja_MBZ
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March 16, 2017, 07:52:57 PM |
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Only time can tell... IMO, that's enough, at least for our life-times.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
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Victoo
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March 16, 2017, 09:01:54 PM |
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When it's pretty much divisible by an infinite amount, yes.
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Winner
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March 16, 2017, 09:58:51 PM |
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Only time can tell... IMO, that's enough, at least for our life-times.
...however, this could become one of the reasons of sky-rocket price of bitcoin. Either it will go very up, or in the worst case, very down.
Yep, now that the price is getting more volatile than it was before before because of that Bitcoin ETF thing there will be more people holding coins and less people having any access in getting any coins from Bitcoin Exchanges (At least not as much as they hope to get). If Bitcoin actually pumps up towards the $1 per Sat then there would be chaos, there is a bunch of people that loss a large amount of coins just by playing Bitcoin Dice games. |
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Salazarian
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March 17, 2017, 03:00:27 PM |
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I mean its only 21million btcand there are 6billion people in the world , how can it be enough
Just think about the number of people that will be using bitcoin in the future, we can not be able to determine if the whole pulation will use bitcoin at this time and for sure it is not 100% of the entire population will adapt bitcoin . Also, not all people will be able to obtain 1 bitcoin easily so I can say that 21 btc is enough . i think that in future most of the people will be using bitcoin. as we can expect that in future the price of bitcoin will increase too much and hope that in such time we will count bitcoin in satoshi as because of its high price. |
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Kevin77
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March 17, 2017, 03:06:42 PM |
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i think that in future most of the people will be using bitcoin. as we can expect that in future the price of bitcoin will increase too much and hope that in such time we will count bitcoin in satoshi as because of its high price.
Yes, when bitcoin prices reaching million price levels or 10 millions levels, we need to use lower units than satoshi to have convenient notations. The biggest advantage of electronic payment systems, we can have unlimited number of units hence 21 million bitcoins is just a theoretical limitation not for practical usage. When it's pretty much divisible by an infinite amount, yes.
Literally we can say bitcoin has infinite amount of units to serve us regardless of how many people will be adopting it. Mr. Satohsi has given us a versatile system to withstand for any future requirements. |
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CyberKuro
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March 17, 2017, 03:30:26 PM
Last edit: March 17, 2017, 03:56:39 PM by CyberKuro |
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You are getting it wrong. Let me explain.
There's some 170k-180k tons of gold mined. Let's say 170 000 000 kg. Your question is like asking why can't everybody have 1kg of gold.
Not everybody wants Bitcoin and also Bitcoin has subunits (in the same way 1kg has grams). People can get 0.1 BTC. Or 0.0001 BTC. Some day even that may be pricey.
So the answer is yes, there's enough Bitcoin.
For human greed, 21 billion is not enough. But, I do agree that not all of man will have bitcoin, just a few of us. Furthermore, not everyone knows about bitcoin even just heard about it. Bitcoin isn't so attractive for some people instead of using fiat money or holding gold. I realized that bitcoin is not created for all of us such as fiat money, but only for them who wants to use this technology but not as currency. |
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audaciousbeing
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March 17, 2017, 03:35:34 PM |
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I Dont even believe that bitcoin was originally made for the whole world in the first place. Its either that Satoshi never had the idea that the project will be as successful as this or the 21 million maximum cap is a ruse for everyone to believe that the number of bitcoin is limited so as to keep the pressure high and miners can make more money. But either way, I dont see the 21 million enough to cater for everyone.
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Rinder
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March 17, 2017, 03:38:41 PM |
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Well the 21 bitcoins might be enought knowing the bitcoin price will keep raising over the years, but bitcoin were made for all, even not expecting such big sucess. Not all people do transactions online, soo bitcoin could handle a big part of those transactions, but with the high fees being charged bitcoin should become an option like gold, to store value.
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iv4n
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March 17, 2017, 04:03:50 PM |
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Nobody can say how much can worth that 21 million bitcoins, in this moment by the current price that is 2.52E10, for 10 years total worth of all bitcoin can be 3 times bigger then it is now. If bitcoin increase a lot, there will be enough for everyone, look how the bitcoins are distributed now, everyone can still earn or buy bitcoins, and many of the people here are holders. There will be enough bitcoins, milibitcoins, one day microbitcoins for every person in this world.
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PokerFace3
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March 18, 2017, 08:04:20 PM |
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Nobody can say how much can worth that 21 million bitcoins, in this moment by the current price that is 2.52E10, for 10 years total worth of all bitcoin can be 3 times bigger then it is now. If bitcoin increase a lot, there will be enough for everyone, look how the bitcoins are distributed now, everyone can still earn or buy bitcoins, and many of the people here are holders. There will be enough bitcoins, milibitcoins, one day microbitcoins for every person in this world.
Indeed, there might seem that 21 million BTC is not enough to cover the whole needs of the world with the current price, but remember that the price of the bitcoin is always rising and the more people are going to use it the higher it gets and that means that if you need 0.1 btc to buy something in the future you will be using 0.0001 btc to buy the same thing. |
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Captimiz
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Hoqu.io – Decentralized Affiliate platform
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March 18, 2017, 08:19:22 PM |
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Of course, the richest 1% will own 50%+ of all bitcoins...
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Mikez
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March 18, 2017, 08:21:32 PM |
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Nobody can say how much can worth that 21 million bitcoins, in this moment by the current price that is 2.52E10, for 10 years total worth of all bitcoin can be 3 times bigger then it is now. If bitcoin increase a lot, there will be enough for everyone, look how the bitcoins are distributed now, everyone can still earn or buy bitcoins, and many of the people here are holders. There will be enough bitcoins, milibitcoins, one day microbitcoins for every person in this world.
Indeed, there might seem that 21 million BTC is not enough to cover the whole needs of the world with the current price, but remember that the price of the bitcoin is always rising and the more people are going to use it the higher it gets and that means that if you need 0.1 btc to buy something in the future you will be using 0.0001 btc to buy the same thing. Yeah and with limited supply of bitcoins and higher demand will help in taking price to extreme high level in future and once many people will start using bitcoin this amount would not be sufficient but its good that we have limited amount of bitcoins as it will make bitcoin more powerful currency in future. |
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mobilestrike
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March 18, 2017, 09:00:36 PM |
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I mean its only 21million btcand there are 6billion people in the world , how can it be enough
The developers of bitcoin are much more brilliant and they have a good planning for internet currency in the form of bitcoin and they have decided their own calculation for that currency so that will be better. The other point is that bitcoin also have sub division so there are numerous in these 21 million bitcoins which will serve for the people of world. |
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BADecker
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March 18, 2017, 09:07:56 PM |
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At the rate Bitcoin is dumping as of this writing, there'll be about 21 million more bitcoins than needed.  |
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aardvark15
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March 18, 2017, 09:54:30 PM
Last edit: March 18, 2017, 10:38:35 PM by aardvark15 |
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It is enough for it .it was planned very well and executes too .there are 8 units for satoshi .it is more than enough for some people .by the time the price of bitcoins would reach up to a maximum height .
Even though you can split a Bitcoin down to 8 decimal places, you can't really send just 1 satoshi. What would the fee be for that transaction? Even if the fee was 1 satoshi, the fee would be 100% of the transaction price. For that reason, we can't really say that we can break a Bitcoin down to that small of an amount. |
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freedomno1
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Learning the troll avoidance button :)
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March 18, 2017, 11:20:01 PM |
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I mean its only 21million btcand there are 6billion people in the world , how can it be enough
As likely mentioned already it is enough if we treat Bitcoin as an asset class and alt-coins or sidechains replace the usage of Bitcoin for p2p transactions and Bitcoin and the mining turns more towards b2b but divisibility works that way if we can increase the block size. |
Believing in Bitcoins and it's ability to change the world
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bncbnc
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March 19, 2017, 06:55:07 AM |
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Well the 21 bitcoins might be enought knowing the bitcoin price will keep raising over the years, but bitcoin were made for all, even not expecting such big sucess. Not all people do transactions online, soo bitcoin could handle a big part of those transactions, but with the high fees being charged bitcoin should become an option like gold, to store value.
yes that is very right to say that its price will depend on the price of bitcoin, if the price of bitcoin is increasing then 21 million is enough for the world wold as people will be using its units and not the whole bitcoin. |
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giveen
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March 19, 2017, 03:05:07 PM |
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Well the 21 bitcoins might be enought knowing the bitcoin price will keep raising over the years, but bitcoin were made for all, even not expecting such big sucess. Not all people do transactions online, soo bitcoin could handle a big part of those transactions, but with the high fees being charged bitcoin should become an option like gold, to store value.
What is even wrong with you first of all bitcoin can't introduce anyone to online payments as it isn't even that famous and it isn't secure with all the risks online as you can't expect a newbie to know what is escrow and if the price fluctuates he may get scared. The best way to introduce someone to online transactions would be paypal as it is safe to purchase, we can actually contact paypal if any problem occurred. |
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Zenithar
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March 19, 2017, 05:15:32 PM |
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It is enough for it .it was planned very well and executes too .there are 8 units for satoshi .it is more than enough for some people .by the time the price of bitcoins would reach up to a maximum height .
Even though you can split a Bitcoin down to 8 decimal places, you can't really send just 1 satoshi. What would the fee be for that transaction? Even if the fee was 1 satoshi, the fee would be 100% of the transaction price. For that reason, we can't really say that we can break a Bitcoin down to that small of an amount. yes that is really a big digit and we can have even a very small unit of it and that is the reason that i can say that the 21 millions is really a big amount for the world world |
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