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December 16, 2017, 10:10:37 AM |
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Overpopulation shouldn't negatively affect the value of Bitcoin. This is because the bitcoin price gains more stability with adoption and as more people start using it the value increases cause of the limited amount of Bitcoins available to circulate. Eventually smaller denominations of Bitcoin like mBTC and Satoshi will tend be come the normally traded units for buying daily necessities because as more people accumulate or get their hands on a certain percentage of share in Bitcoins, there's less left of the total 21 Million Bitcoins left and hence the price increases tremendously as we've witnessed since the past.
If you take a country like China, they have a large population and Bitcoin is dominating in their economy. This is because as more people in China become aware of the benefits of mining Bitcoin and trading in it, they tend to involve themselves. This in turn increases adoption and also increases the price.
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