How will Bitcoin Succeed?!?

[ObsidoNovum]

Bitcoin according to Satoshi Nakamoto is supposed to be the new currency, relying heavily on the idea that the world will soon use this currency to make transactions..

How will these transactions be made if there is only a finite amount of bitcoin available and they are so poorly distributed? Some people have hundreds of bitcoin while others have one, two, or even parts of a bitcoin...

And to make it even more interesting, people are investing and holding onto bitcoin. So, how will the world be able to use bitcoin in the future  if only the miners and first investors own majority of the bitcoin?

[leisha]

Bitcoin according to Satoshi Nakamoto is supposed to be the new currency, relying heavily on the idea that the world will soon use this currency to make transactions..

How will these transactions be made if there is only a finite amount of bitcoin available and they are so poorly distributed? Some people have hundreds of bitcoin while others have one, two, or even parts of a bitcoin...

And to make it even more interesting, people are investing and holding onto bitcoin. So, how will the world be able to use bitcoin in the future  if only the miners and first investors own majority of the bitcoin?

You are right and you have a very interesting question. I think that transactions that Satoshi Nakamoto told is the digital currency as a whole not just bitcoin itself. There are lots of transactions in the blockchain but it was not all bitcoin some are transacting altcoins. And even bitcoin has a low supply of 21 million still millions of people uses it and most of people wanted bitcoin because of its price. I think it will be just in cylce of transactions so even it was not infinte still it will be used but I think it will have a higher price. Transacting using cryptocurrency makes life easier so thanks to Satoshi for the great invention.

[777asianinvasian]

Well it does break down into a hundred millionth of a piece which means if bitcoin ever got to 1 million dollars a bitcoin each satoshi would be worth 1 cent. I think that solves the problem of everybody having one because if you want it you can get it but it will in general only push the price higher up which is fine. The usage of the bitcoin is where I worry too because the fees are too high right now and the confirmation is too slow for everyday usage. Once lightning network is implemented I hope that these two problems can be resolved and people may start viewing bitcoin as an everyday currency then.

[Hexah]

Well, bitcoin is already successful and despite the fact that from price of a cent to thousands of bucks on its current price right now I think that would be considered as a successful journey that bitcoin have ever take into.

I know that there are many opportunities keep going on bitcoin and I would love to see it coming and furthermore of it many government recognizes it now and they have imposed regulations to it just like South Korea, Japan, Canada and many parts in Asia too.

[mk4]

How will these transactions be made if there is only a finite amount of bitcoin available and they are so poorly distributed?

Sure, bitcoin is somewhat poorly distributed because the first thousand or so people that knew bitcoin holds a good amount, but hey, I think they deserve it due to them believing in bitcoin so early on. Also, it's not like we can just distribute all the bitcoins right now by simply giving satoshis to everyone? It doesn't work that way

Some people have hundreds of bitcoin while others have one, two, or even parts of a bitcoin...

And some people are trillionaires, some people are billionaires, some people are millionaires, some people are in the middle class, some in the lower class, and some people are poor. That's how society was and is since forever. Survival of the fittest I would say.

And to make it even more interesting, people are investing and holding onto bitcoin. So, how will the world be able to use bitcoin in the future  if only the miners and first investors own majority of the bitcoin?

As much as I hate people who are only in it for the money, there's pretty much nothing we could do about it. It's a free market; people can and will invest if they wanted to whether we like it or not.

So, how will the world be able to use bitcoin in the future  if only the miners and first investors own majority of the bitcoin?

The majority of the people of the world always has access to services and exchanges that buy and sell bitcoin and are free to purchase some if they want to. I don't see a problem here.

[caloy06]

For me, I will only succeed in bitcoin in diligence and you will only be able to enjoy your dream even though it is hard for you to not surrender and have a bright future for you. You will also be able to become a millionaire on a site that you can not afford bitcoin will be successful for people who are dreaming and will be even more expanding in different countries.It will be a bitcoin in our world and more people are going to get through the hardships of life.

[pratik009]

It's very good question.Bitcoins total supply is 21M.it means only 21M bitcoin can come to the cryptoworld And not any more.As you say the most of bitcoins are have to the first investeros and miners.But 21M bitcoin enough for the mining until the 2141.And miner's can't get easily any bitcoins.they have to solve the problem of block and high electricity consume in it.And Anyone can still invest into bitcoins And can also invest still many of years.And we talk about our money then it's also in different amount to person from person . one person have $10 and second have $1 or none.so bitcoin is also in different amount from person to person.As i said that the supply of btc comtolled and the demand and popularity of btc increasing everyday by day therfore bitcoin will definitely success.

[ORiN]

In my opinion bitcoin is more like an asset. It's hardly a currency due to absence of infrastructure (stores barely accept crypto even in developed countries), huge price and hardness of understanding it. Crypto, unfortunately, is still for geeks.