What if all nations of the world started to use bitcoin

[bluefirecorp]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

People all around the world are already using bitcoin.

So I think what you meant is that what if the governments in every single country in the world decided that they should legalise the usage of bitcoin and therefore everyone in their country starts using it.

I would say that bitcoin is definitely up for the challenge, because it was designed to be a global currency in the first place. However therw are still scalability issues to be solved before worldwide adoption can actually begin.

Yes, people from around the globe are using bitcoin already, but the question was if all country. It is a fact that not all country are using bitcoin as of now but what if that scenario happens. It seems that you did not quite comprehend what was asked.

OP, blockchain can handle every user, that is the main purpose and the design of blockchain itself but the question is how much time it would take in order for blockchain to accommodate each user, I think it will take forever. A further optimization must be done so that it can accommodate such number of users. Today that the number of user is so small, compared to the total number of people in this world, blockchain have some issues upon accommodating every transaction what more if all country uses bitcoin. Blockchain have many work to do to address every user.

I totally agree, despite the progress that bitcoin have made over the years and all the obstacles that it faced there is a lot has to be made before it can support mass worldwide adaptation and as you said the blockchain network is barely supporting the current user rate and as more people keep getting interested in the bitcoin domain and entre the bitcoin network the more pressure there will be and honestly it is not all the blockchain fault I think the miners have to do with it because they are the ones confirming these transactions, and if we need to advance we need to find a better way to confirm them, rather than paying fees and hoping for the transaction to be received faster.

[1714776903]

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[witsie]

No. Catastrophic issues. The blockchain cannot scale to such a degree overnight. People (especially older folks) are not educated about Bitcoin and have no idea how to use it. That would cause MASSIVE confusion.
Additionally, there are enough Bitcoins, but not enough subdigits. The satoshi would be of incredibly high value, so we'd need digits below that. Fortunately those are easy to add, but we don't have them.

Bitcoin might be used by every country at some point in the far future. At that point it will be ready as well.

hi .. thanks for fortunate more digits ... but if you can explain it where we have to add subdigits ...
from center wee can not bring all nations together to crypto, due to nationistic paradigm and domination they want under pretence that they protect us against other nations ... what they do really ... so we have to run from off-centre to keep decentralization in equilibrium ...
......................
centralized --- decentralized --- offcentralized .. or in true: fiat ---- crypto ----- divine
......................
in practice it is a brand new paradigm of divine universalism with generation of new divine money
.....................

then we see some path towards divine providence in experience that provides us with 10 000 divine dollars yearly per born citizen
.. join my betting pattern on site: http://zikalkiszik.blogspot.hr/ .. thanks for fine answers ... carry on .. you are on the shiny path

[TastyChillySauce00]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

This is possible really , Because the advantage of the bitcoin is going increasing and new new ways are generating in the bitcoin to make earning and start business , so no doubt that one day all the nation's will use bitcoin  , and if it will happen then we can estimate that how much the price will jump , Because most of the times price of the bitcoin flutuations fastly but just think what will happen if the whole world will enter in the bitcoin .
Here I will say that just wait for the time and hold bitcoin in your wallet , surely your bitcoin will multiplied by 100

There's a need to develop more ways to make bitcoin transaction faster, Its really possible that every nation will use it but its also hard to accompanied now a lot of users,due to its demand and lot of users people it might be hard to accommodate all the transaction smoothly.

That's right, as for now bitcoin have its scale problem and struggling to overcome this. What I worried is when many people are joining bitcoin within a short span of time, bitcoin will becoming really slow that will make the transactions get confirmed after waiting few hours, it's not good and probably make bitcoin's image becoming ugly.
With this small percent of people using bitcoin compared to the whole human population around the world, we're already facing some serious problems.

[ChineTownMan]

On the one hand, popularization of bitcoin in countries' meetings will be good, and on the other hand the system may not withstand such a heavy load. In any case, we need to move in this direction.

[citywise2]

I think it will be more good if all the race will accept bitcoin and it will make bitcoin to be surplus. Then i am sure it will be plenty and limited. When it come to be things will be good and people everywhere experience one mutual love.
I hope that would happen very soon and i am sure that will unite the world.

[SHAWN-MIDWAYS]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

Managing all bitcoin users is possible but the problem comes when people want to deliberately spam the network to slow it down and cause backlogs or force everyone to pay high transaction fees to benefit miners but every country getting on board might need the blocksize increased to speed up things.

[Yuuto]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

Managing all bitcoin users is possible but the problem comes when people want to deliberately spam the network to slow it down and cause backlogs or force everyone to pay high transaction fees to benefit miners but every country getting on board might need the blocksize increased to speed up things.

As we have already seen many times, it is not a big problem for a group of organized people,  to make a big traffic in blockchain network, which causes high fees and longer time to confirm the transaction.
We would need to have some kind of improvement of the blockchain technology to maintain whole world using this network, imagine only 100 million people using blockchain in one day and that would be already a really big traffic.

Bitcoin is worldwide indeed, but for now it is not adapted to holding so many users in its web, without any solution it would be just useless with all it's traffic and very high fees.

[CODE200]

When the way i see it. In my personal point of view if bitcoin become more popular and will be using by other nations lot of young teenagers who needed an extra income can choose bitcoin as there alternative options same goes to middle age and to average option they will know how to know a bit about trading and investment because of bitcoin.

[witsie]

i think that national states societies countries will not approve any additional sources of money to teenagers or poor people
jobless and helpless, so again we need to create our own source of money universally over internet an that is divine money

[YuginKadoya]

Well it that happens you are sure that bitcoin is being accepted by the government and not a single one is out there who doesn't know what bitcoin is and maybe it is now the one currency accepted or if not it is accepted but other currency is still in use but have decline greatly in value, or maybe if it is accepted in all nations the value will just become stable and no more sudden movements but it is too high that dollar is demonetize? well there are many things that could happen specially when it comes with bitcoin!

[MoneyIsDebt]

I think it will be more good if all the race will accept  and it will make  to be surplus. Then i am sure it will be plenty and limited. When it come to be things will be good and people everywhere experience one mutual love.
I hope that would happen very soon and i am sure that will unite the world.

it  will also help in the trading of goods and any type of online shopping. despite of using dollar or some other digital currency to be used. an online currency which will be used by all over the world and trusted enough to be used is very helpful in trading of goods and online shopping. it will help the users as well as traders because one of the main problem of trading in a specific country is its currency and exchanges links. as we all know the internet world is spreading like a storm so, a cryptocurrency is pretty helpful to be used all over the world.

[ice098]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

it is good, the bitcoin will increase the number of investore and the number of users. it will lead to the grow of bitcoin and it will be known in all countries it tends to be every store in the world will accept bitcoin as its payment.

[FiiNALiZE]

 Bitcoin is pretty much the new payment method for almost every Country in the world. If I wanted to pay for something online then I would much rather talk to the owner of the Business and pay with Bitcoin so I would have a better experience when purchasing an item from their Company.
Things like PayPal and other payment processing Companies won't survive unless they adapt with Bitcoin because the people would want to use something that costs less for them when they purchase a item.

[logicgate]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

it is good, the bitcoin will increase the number of investore and the number of users. it will lead to the grow of bitcoin and it will be known in all countries it tends to be every store in the world will accept bitcoin as its payment.

you are right that if the number of investor for bitcoin will increase then there will be large users of bitcoin and if the users of bitcoin will be increase then the price of bitcoin will increase day by day and due to which gradually many nations will start to use bitcoin then bitcoin could be a world currency in future.

[aardvark15]

If you're talking about every country using Bitcoin as an official currency, that's not going to happen. The most likely scenario is that many countries will allow Bitcoin just like credit cards or PayPal. There will also be countries that feel threatened by it and will highly regulate it.

[ralle14]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

it is good, the bitcoin will increase the number of investore and the number of users. it will lead to the grow of bitcoin and it will be known in all countries it tends to be every store in the world will accept bitcoin as its payment.

It's not good because at the same time the network will be flooded with unconfirmed tx like what's happening recently. What more if everyone is using bitcoin we might reach millions of unconfirmed transactions.

[Nahl]

if all nations in the world make stated use bitcoin i think the current supply will not enough to all of bitcoin users and the effect is the price of bitcoin will very expensive and i think the victim from these situations is the people who live on the third countries cannot use bitcoin because usually most of them is poor countries

[nejibens]

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

I think it will cause very high amount of traffic for blockchain, and probably it will cause many issues, like getting so many transactions unconfirmed, and the transactions fees will increase as well.

[witsie]

everything expands so far as it could go, cryptos will stay under slavery of fiats so long until the divine intervention delivers them from that slavery
when obama came to power he said: look people, i have to bail out banks so that you can have source of money for lending, i can not bail out you
only god can bail out the people, as almighty god is prohibited and banned by the science and religion to become born so we ought to create secular god
solution is too close to be seen, i was sailing as a ship's mate and we had radar with off-center option, that center is position for our secular god
crypto industry online is 2cents2%, we can't earn cryptos, we must buy cryptos to satisfy fiats owners, they will scam and scum us, we spam & slam

[Tesorex]

Imagine that suddenly there are 200m transactions per second in the mempool, but wait that would mean 200m tx and every one of them should contain at least a few bucks worth of bitcoins, I think 50 years from now that'll become a reality. right now let us have 10-15 tx per second and fees reduced then we'll think about all the world using bitcoin.