Is 21million BTC really enough for the wole world?

[jonald_fyookball]

I mean its only 21million btcand there are 6billion people in the world , how can it be enough

Well its smallest denominations aren't 1 bitcoin, it's one satoshi which if I'm not wrong is 0.0000001 bitcoin. The core team could move that a few decimals back too if needed but as of now 21 million is more than enough

You are wrong.  It is 0.00000001

 

[BADecker]

It is NOT enought. It's all about perception, and bitcoin is perceived to be extremely expensive. In somewhat developed countries, the average joe might spend his whole wage to buy one bitcoin. In poor countries, people might need to save one year to buy one bitcoin. I know it can be divided, but so can be fiat. All about perception, and bitcoin is expensive. Given the curent amount of adoption, 21mil isn't nearly enough. I'd say atm ~100mil tokens are okay, in the future if adoption goes mainstream 1bil might be the next "okay-ish" amount. Because it's ALL about perception. People don't care tehy can buy 0.001 bitcoin. If they can't easily buy atleast 1, it'll be hard to convince them;  
" 1. Hey, nice, you saved 300euros. Why don't you buy a a quarter of a bitcoin ?
2. What is bitcoin and why would i do that ?
1. Bitcoin is a digital currency, because it's cool.
2. But why does it cost so much ?
1. Because people believe it to be worth that much !
2. Well, it seems wayyy to expensive, i'll pass.

I can afford 1 bitcoin at current rates. I can't afford anything like 100,000 bitcoins. One satoshi costs USD $0.0000125077 - https://99bitcoins.com/satoshi-usd-converter/ = a little over a thousandth of a penny.

Buy what you can afford.

[Stedsm]

The total market cap is not enough to cover the whole population of the world, but that doesn't mean that it will get out of the game after getting the last bitcoin mined, but in fact, this would mean that the prices will go high like crazy and the coins will be spread in users at their least denomination, may be during that time, even an mBTC would cost more than $100.

[BADecker]

It is NOT enought. It's all about perception, and bitcoin is perceived to be extremely expensive. In somewhat developed countries, the average joe might spend his whole wage to buy one bitcoin. In poor countries, people might need to save one year to buy one bitcoin. I know it can be divided, but so can be fiat. All about perception, and bitcoin is expensive. Given the curent amount of adoption, 21mil isn't nearly enough. I'd say atm ~100mil tokens are okay, in the future if adoption goes mainstream 1bil might be the next "okay-ish" amount. Because it's ALL about perception. People don't care tehy can buy 0.001 bitcoin. If they can't easily buy atleast 1, it'll be hard to convince them;  
" 1. Hey, nice, you saved 300euros. Why don't you buy a a quarter of a bitcoin ?
2. What is bitcoin and why would i do that ?
1. Bitcoin is a digital currency, because it's cool.
2. But why does it cost so much ?
1. Because people believe it to be worth that much !
2. Well, it seems wayyy to expensive, i'll pass.

I can afford 1 bitcoin at current rates. I can't afford anything like 100,000 bitcoins. One satoshi costs USD $0.0000125077 - https://99bitcoins.com/satoshi-usd-converter/ = a little over a thousandth of a penny.

Buy what you can afford.

Look. If you can't afford the tiny fraction of a penny that a satoshi is worth, and if you can't afford to go to a faucet and get one free, you had better forget about Bitcoin, and start considering where you are going to get your next meal from, or even your next gulp of water.

[Emoclaw]

As of right now, it's not. Even with sub-digits. But whether it's enough is not even a concern if the whole world is to use it.
There are many issues that are prevalent right now and need immediate resolution (scalability, tx/s)

Adding a couple more sub-digits below satoshi is very easy. That should make it much easier if the time comes.

[BADecker]

As of right now, it's not. Even with sub-digits. But whether it's enough is not even a concern if the whole world is to use it.
There are many issues that are prevalent right now and need immediate resolution (scalability, tx/s)

Adding a couple more sub-digits below satoshi is very easy. That should make it much easier if the time comes.

Present supply and demand suggests that Bitcoin currently easily fits the world.

But, I agree that the addition of satoshi descendants would easily make bitcoin fit if necessary.

I intend to be around in 2150 (or whatever) when Bitcoin mines its last.

 

[Pettuh4]

I mean its only 21million btcand there are 6billion people in the world , how can it be enough

I think you should look beyond the numbers( i.e. The number of bitcoins) and rather look out for the of Bitcoin because if Bitcoin gains more value, say 1 BTC is equivalent $10k, it can be easily shared amongst the entire 6 billion people.

[BillyBobZorton]

It's not that hard to understand. I don't get why some people have such big problem trying to get this.

The price goes higher with demand, so smaller amounts are traded, that's all man, where is the fucking problem?

The entire economy could be run under 1 BTC alone, it would just mean satoshis are worth a ton more, and we can add more digits.

[ImHash]

I mean its only 21million btcand there are 6billion people in the world , how can it be enough

Instead try other alt coins then if you feel 21M is not enough, yet that should be a good indicator for inevitable price increase so stop thinking and start accumulating.

Well its smallest denominations aren't 1 bitcoin, it's one satoshi which if I'm not wrong is 0.0000001 bitcoin. The core team could move that a few decimals back too if needed but as of now 21 million is more than enough

Core dev will do no such a thing, changing the 21M will require changing the entire already locked and time stamped and stored block chain. protocol won't allow such a change in the source code unless you don't want to consider the old block chain as valid/creating a new coin.

You are wrong.  It is 0.00000001

 

Nice you just added one -0- to correct him here you go your Nobel prize

[Mometaskers]

I believe it's enough. It can be divided into much smaller units than say, a dollar. Even if the price hits $2000, that really won't be a problem as far as transactions are concerned. You can just opt to send smaller denominations. Of course if a satoshi ever hit prices like $100 that might not make it suitable for microtransactions anymore but that wouldn't mean it would be useless. You can just use it as a store of value then. When all the bitcoins have been mined out the price would reflect the market demand. Contrast this with fiat where gov't dictate how much is in circulation.

[xskl0]

1 satoshi is enough for the whole world

[anavuajna]

I mean its only 21million btcand there are 6billion people in the world , how can it be enough

I think you should look beyond the numbers( i.e. The number of bitcoins) and rather look out for the of Bitcoin because if Bitcoin gains more value, say 1 BTC is equivalent $10k, it can be easily shared amongst the entire 6 billion people.

But there is no guarantee that all people will use bitcoin. Remain those who do not trust cryptocurrency. I think that even if everyone learns about bitcoin, then it will be used only 1/4 part

[Creepings]

Yes it is not enough thats why it need to be circulated. But if you think of it, many users now have bitcoin and they are wanting to earn more than asking if the 21 million bitcoin is enough.
With its current price, I think it is really enough.

[DannyHamilton]

OP is mistaken about the quantity.

It is not exactly 21 million bitcoins.  That is just an approximation.

The exact number of units that the protocol is designed to release is:

2,099,999,997,690,000 satoshi.

That's two quadrillion, ninety-nine trillion, nine hundred ninety-nine billion, nine hundred ninety-seven million, six hundred ninety thousand satoshi.

It will be easy for off-chain accounts to subdivide beyond that. It is entirely possible that, for off-chain accounts, you could transact in pico-bitcoins.  In that case you would have

20,999,999,976,900,000,000 pico-bitcoins (lets give them a slang name of picobits) to work with.

That's twenty quintillion, nine hundred ninety-nine quadrillion, nine hundred ninety-nine trillion, nine hundred ninety-six billion, nine hundred million picobits.

[BitcoinPanther]

Definitely with the number given by Danny Hamilton, Bitcoin is more than enough for the whole world.  There are plenty of  "pico-bits" to be distributed to the population so we do not have to worry it.  The only problem here is that does every one can afford Bitcoin, once people around the world accepted it?

[bamboylee]

It is not like each person will be owning one btc each. At most, only a part of the population will have bitcoin in their wallet. And bitcoin can be divided into units, it the smallest so far, satoshi. 1 bitcoin is 100million satoshi. So we have 21M by 100M satoshi to be used by bitcoiners. I think that is more than enough.

[pokerplayer]

Yea it will probavbly be enought funds to cover all transactions via bitcoin cryptocurrency which we really need for future payments with so low fees and great business future

[giveen]

Are you ok or you simply joking around, you have forgotten that bitcoin was introduced to replace gold. Does gold have unlimited supply 'no' then whh would bitcoins have.
Plus if there would be sufficient bitcoins for the whole world then it would just be a fiat.

[iqlimasyadiqa]

The smallest count in bitcoin is satoshi. I think in the future people will be getting used to satoshi, so long as it surely bitcoin prices will have a very high value.

[pokerplayer]

The smallest count in bitcoin is satoshi. I think in the future people will be getting used to satoshi, so long as it surely bitcoin prices will have a very high value.

I think that this cant be true because bitcoin price have less and less speed growing so bitcoin will maybe not worth even more than 15000$ so there is no reason for use satoshi often.