Long term bitcoin unit

[im3w1l]

If bitcoin really catches on, if it becomes facebook popular, it will have about 1 billion users. The final number of bitcoin is 21 million, making 21 billion millibitcoins. This means that there will only be 21 millibits per person. This is too little. A person will want a good number of units to feel good. I think a good target is to aim for 1000 units for people with not so much bitcoin. The poorest 50% will only have 1% of the currency, so we need
5 billion x 1000 for the poorest, and that is only 1% of everything. So we need 500 trillion = 5*10^14 units of currency. A close unit to that is actually satoshi, of which there are 2.1*10^15.

Therefore it might be that we need to plan for satoshi as a very long term unit.

[1715337786]

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[e521]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

[im3w1l]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

I disagree. Internet phenomena move very fast. Either up or down. If bitcoin is not facebook popular in 10 years, it will never be.

[atomiccloud]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

I disagree. Internet phenomena move very fast. Either up or down. If bitcoin is not facebook popular in 10 years, it will never be.

Yeah I agree. With the speed at which technology advances I think it is very likely we will either see BTC become widespread or see it die off.

[MikeyVeez]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

I disagree. Internet phenomena move very fast. Either up or down. If bitcoin is not facebook popular in 10 years, it will never be.

Yeah I agree. With the speed at which technology advances I think it is very likely we will either see BTC become widespread or see it die off.

Its been 5 years already if it doesn't become a phenomenon within 5 years its already doomed. Google, Apple iPhone, Facebook became massive well before 5 years. I guess you can say that bitcoin had regulation issues not really up until recently there was still no regulation.

Now with new coins coming out and the foundation wasting a year with a worthless update, it's time is coming nigh. Doesn't mean that the price can't go insane, it's just will never become mainstream.

As written before Bitcoin is just here to warm people up to cryptocurrencies and conditiom them to accept them, until governments come out with their own digital fiat currencies.

[mgio]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

I disagree. Internet phenomena move very fast. Either up or down. If bitcoin is not facebook popular in 10 years, it will never be.

Yeah I agree. With the speed at which technology advances I think it is very likely we will either see BTC become widespread or see it die off.

Its been 5 years already if it doesn't become a phenomenon within 5 years its already doomed. Google, Apple iPhone, Facebook became massive well before 5 years. I guess you can say that bitcoin had regulation issues not really up until recently there was still no regulation.

Now with new coins coming out and the foundation wasting a year with a worthless update, it's time is coming nigh. Doesn't mean that the price can't go insane, it's just will never become mainstream.

As written before Bitcoin is just here to warm people up to cryptocurrencies and conditiom them to accept them, until governments come out with their own digital fiat currencies.

Bitcoin is a way bigger paradigm shift that a new product like facebook or the Apple iPhone.

Bitcoin is more like the PC, cellphones, or the internet, and both existed for decades before they really became relevant. The internet was around since the 70's but only became relevant in the mid 90's. Cellphones existed as carphones since the 80's but only became relevant in the late 90's.

[MikeyVeez]

That's a good point but at the same time I think that if BTC will ever reach "facebook popularity" somebody will have to look at the transaction numbers and find a solution (be it off blockchain or whatever other method) and there are many many other points like global legislation, security, stupid-proof wallets, etc.
We are still in early days and probably we won't see this happening in our lifetime

I disagree. Internet phenomena move very fast. Either up or down. If bitcoin is not facebook popular in 10 years, it will never be.

Yeah I agree. With the speed at which technology advances I think it is very likely we will either see BTC become widespread or see it die off.

Its been 5 years already if it doesn't become a phenomenon within 5 years its already doomed. Google, Apple iPhone, Facebook became massive well before 5 years. I guess you can say that bitcoin had regulation issues not really up until recently there was still no regulation.

Now with new coins coming out and the foundation wasting a year with a worthless update, it's time is coming nigh. Doesn't mean that the price can't go insane, it's just will never become mainstream.

As written before Bitcoin is just here to warm people up to cryptocurrencies and conditiom them to accept them, until governments come out with their own digital fiat currencies.

Bitcoin is a way bigger paradigm shift that a new product like facebook or the Apple iPhone.

Bitcoin is more like the PC, cellphones, or the internet, and both existed for decades before they really became relevant. The internet was around since the 70's but only became relevant in the mid 90's. Cellphones existed as carphones since the 80's but only became relevant in the late 90's.

No. Bitcoin is not like the internet thats like saying bitcoin is the first form of currency. Paypal is basically bitcoin, and before bitcoin there was egold and plenty of other digital currencies. Again its big, but will be replaced by others which will become mainstream. This however does not mean in won't be valuable, but given the nature that this thing is basically a big ponzi just like every economy in the world, they last only as long as confidence does.

Like I said it will probably have a few more bubble pushes before a real competitor starts growing within a year or two but eventually its price will come crashing way down once confidence is lost.

[e521]

How can you compare a Company with Bitcoin? They sell products and provide services.
Is anybody paying for Bitcoin marketing? No, it's an open source project carried on by people, with its value decided on the market.

Facebook, what's the innovation involved? I don't care what other people eat or your selfie. I actually talk or call my "friends"
Apple (insert-your-rpoduct) err, I guess the entire world can live without it

I won't even comment on the ponzi scheme, you are idiot and I problably shouldn't have spent any time replying to this.

[LatestBTC]

Bitcoin is getting more media exposure per week now than it did in it's first 3 years. If its going to catch on now is the time

[MikeyVeez]

How can you compare a Company with Bitcoin? They sell products and provide services.
Is anybody paying for Bitcoin marketing? No, it's an open source project carried on by people, with its value decided on the market.

Facebook, what's the innovation involved? I don't care what other people eat or your selfie. I actually talk or call my "friends"
Apple (insert-your-rpoduct) err, I guess the entire world can live without it

I won't even comment on the ponzi scheme, you are idiot and I problably shouldn't have spent any time replying to this.

Bitcoin is a product and a service you IDIOT. The service is "it allows you to transfer value anywhere in the world." Its quite funny the morons are the first to start the name calling. The innovation of Facebook in the beginning was it got you in touch with long lost friends. Secondly,  again you moron, did google or facebook have advertising? No it was word of mouth.

Get your facts straight before you start insulting people.