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Author Topic: With Bitcoin Maximum cap . Can it be used by the whole world ?  (Read 952 times)
Haliburton
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June 09, 2018, 08:35:48 PM
 #61

Bitcoin has the cap of 21 million, but also it is divisible to the 8th decimal place. Thus, there will be no problem that bitcoin can serve the whole planet, given that its price is sufficiently high. By the way, this is one of the reasons I think the price will be high eventually Smiley

I think that this is a great feature of the Bitcoin currency, since its capabilities can be expanded to other things that were never thought possible before with real world currency. As such, Bitcoin is at the same time a finite currency, and an infinite currency for hundreds of uses in the world. Given that Bitcoin is designed to be divisible, there's a huge possibility that it's price will be much more expensive in the future.

Maybe by then, we'll end up paying satoshis of a Bitcoin worth a couple of dollars. Depending on current price, and the needs of users on the Bitcoin network, it can easily be divided into many more units (more than Cool if necessary. Therefore, that is one of the advantages Bitcoin has over traditional currencies, allowing anyone in the world to use it to their hearts desire. Smiley
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June 11, 2018, 06:46:58 PM
 #62

Unfortunately yes, Bitcoin is capable of handling very many transactions but for a very large scale like "the whole world" could meet a deadlock because of its max cap. Maybe that's where the altcoin's role can fill the gap but it’s still gonna be very long to happen. This max cap is not what affects the interest of market merchants on demand of Bitcoin, for now the obstacle is its volatility, it’s still a scourge at the same time makes Bitcoin famous.
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June 11, 2018, 07:09:38 PM
 #63

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?




I think if the price becomes stable like US dollars.
It would be become a world currency.
But it still need improvement on it's transaction speed, if it not improved i'm not sure it will be world currency
The problem about transaction speed that takes a long time will be no more soon because of Lightning Network has begun to develop, but don’t know when. The big problem is its horrible volatility, great for investors but not for its primary purpose as Cryptocurrency

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June 11, 2018, 07:23:01 PM
 #64

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?

Bitcoin has the liquidity so one bitcoin cn be divided into so many parts and it maybe enough to handle 7 Billion people of the world.But we don't have only bitcoin as the crypto currencies and other thousand more crypto currencies are also available so it can be enough to replace the fiat money system.
I'm a bit doubting if Fiat will really perish or even transformed into another form, the digital world is no doubt in its development but still cryptocurrencies run using electronic technology and it requires electricity to work, 2 things that can be dangerous if relying entirely on Cryptocurrencies.


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June 13, 2018, 09:36:07 AM
 #65

Bitcoin has the cap of 21 million, but also it is divisible to the 8th decimal place. Thus, there will be no problem that bitcoin can serve the whole planet, given that its price is sufficiently high. By the way, this is one of the reasons I think the price will be high eventually Smiley

I think that this is a great feature of the Bitcoin currency, since its capabilities can be expanded to other things that were never thought possible before with real world currency. As such, Bitcoin is at the same time a finite currency, and an infinite currency for hundreds of uses in the world. Given that Bitcoin is designed to be divisible, there's a huge possibility that it's price will be much more expensive in the future.

Maybe by then, we'll end up paying satoshis of a Bitcoin worth a couple of dollars. Depending on current price, and the needs of users on the Bitcoin network, it can easily be divided into many more units (more than Cool if necessary. Therefore, that is one of the advantages Bitcoin has over traditional currencies, allowing anyone in the world to use it to their hearts desire. Smiley
"Maybe by then, we'll end up paying satoshis of a Bitcoin worth a couple of dollars" Smiley
Maybe not, but my expectation would be that a satoshi is eventually worth 1 cent of a dollar, making one bitcoin effectively worth a million dollar, and it is actually an expectation and estimation of many other forum members as well.

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Haliburton
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June 13, 2018, 06:25:47 PM
 #66

Unfortunately yes, Bitcoin is capable of handling very many transactions but for a very large scale like "the whole world" could meet a deadlock because of its max cap. Maybe that's where the altcoin's role can fill the gap but it’s still gonna be very long to happen. This max cap is not what affects the interest of market merchants on demand of Bitcoin, for now the obstacle is its volatility, it’s still a scourge at the same time makes Bitcoin famous.

I concur with you my friend. Even if the number of divisible units of Bitcoin won't be sufficient to meet the needs of people, there's always the choice of altcoins. In this sense, it could be said that cryptocurrencies are infinite, since they could be expanded to a huge user base, in contrast to government-issued currencies like the Dollar. This is a huge advantage that cryptos have, leading to a global economy where anyone can join or leave at will.

So, in the future, we won't need to worry if Bitcoin's prices rise to astronomical levels, since it can be divided to many units. By then, we might be dealing with satoshis of a Bitcoin, due to the high price Bitcoin will have. Wink
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June 15, 2018, 02:24:06 PM
 #67

Are you talking about Bitcoin's scarcity when Bitcoin is fully exploited? Since then, the value of Bitcoin will be increased due to the law of supply and demand of the market? I do not think so. The first worldwide use of Bitcoins must be made by the governments of the rest of the world. However, this is very much dependent on the country manager. They have the right and the right to decide whether Bitcoin is lawful in their country. Then comes the other causes. With Bitcoin Maximum cap, it can not be asserted that Bitcoin will be used around the world.
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June 15, 2018, 02:27:10 PM
 #68

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?

Bitcoin has the liquidity so one bitcoin cn be divided into so many parts and it maybe enough to handle 7 Billion people of the world.But we don't have only bitcoin as the crypto currencies and other thousand more crypto currencies are also available so it can be enough to replace the fiat money system.
I'm a bit doubting if Fiat will really perish or even transformed into another form, the digital world is no doubt in its development but still cryptocurrencies run using electronic technology and it requires electricity to work, 2 things that can be dangerous if relying entirely on Cryptocurrencies.
Do you suspect that Fiat will completely disappear in the future when the electronic trading market will dominate the trading activity? I do not think so. The development and popularity of Bitcoin is undisputed, but the real value of Fiat is undeniable. Fiat may lose its popularity, but it is certain that Fiat will remain in the works of human society for a long time. Historic values ​​have proven that Fiat will not lose.
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June 24, 2018, 09:44:47 PM
 #69

The current cap for bitcoin is nearly 148 billion us dollars but many people according to analysts at wall street say that the maximum cap for this currency is undecidable enormous but with guarantee can reach 1 trillion USD by the end of half a decade, major industrialists and capitalists also have a similar opinion.
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July 12, 2018, 09:50:50 AM
 #70

The current supply of bitcoins in the market is approximately 40 million units but once it reaches 92 million coins which are exponentially increasing as more and more servers are involved in the mining of bitcoin the price value controlled by both demand and supply will only be controlled by demand, in short, exponential increase.

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July 12, 2018, 09:52:48 AM
 #71

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?





it can be used by whole world, because bitcoin has 8 decimals, called satoshis. Your opinion is not educated, so better do some research first. It's available literally for everyone..
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July 12, 2018, 12:11:27 PM
 #72

Bitcoin is already being used as digital money now. it is not being used by the world because the whole does not accept it. even if bitcoin has no maximum cap if the world does not accept it, then it cannot be used by the whole world as money.
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July 15, 2018, 03:18:26 AM
 #73

That means you can cost 1 Satoshi 100K USD because we do not have any next unit or breakdown of bitcoin and therefore it will become non-trading. That is the kind of question that may arise in the future. The concept of bitcoin is still new to everyone. That is why the maximum limit is limited to 21m bitcoin. So do not worry.
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July 16, 2018, 09:15:20 AM
 #74

The maximum numbers of bitcoin to be mined is 21 million bitcoins. Bitcoin can not be used as money by the whole world because it has a maximum cap. My opinion . What is your stand ?




Irrespective of the number that how much it can be mined let’s say 22 million but still there are other ways and factors in which bitcoin can be used. Bitcoin is very sustainable crypto currency and bitcoin can be use in other ways other than mining also. Bitcoin is a type of crypto currency and is a circulating crypto currency and let’s say if if it has reached maximum point then it can be circulated among people and it is a type of crypto currency that can be use by the entire world.
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July 17, 2018, 10:50:36 AM
 #75

That means you can cost 1 Satoshi 100k USD because we do not have any next unit or breakdown of bitcoin and therefore it will become non-trading.
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July 19, 2018, 05:40:02 PM
 #76

The current supply of bitcoins in the market is approximately 40 million units but once it reaches 92 million coins which are exponentially increasing as more and more servers are involved in the mining of bitcoin the price value controlled by both demand and supply will only be controlled by demand, in short, exponential increase.

It's true that Bitcoin's price will rise over time, as demand surges among everyday people. While the limited supply of 21 million coins in existence might not seem enough for everyone around the world, it's all the contrary since Bitcoin is a highly divisible currency unlike traditional real-world currencies we've been accustomed to for quite a long time.

Maybe, in the future we might be dealing with a Satoshi, instead of Bitcents, since prices will be a lot higher than what they are right now. By that time, Bitcoin would've scaled to handle millions of transactions per second, allowing anyone to make use of it regardless of the region or place in the world. In theory, Bitcoin is at the same time a finite and infinite currency since it can be expanded to billions of units of a single Bitcoin, while preserving its value (unlike the Dollar, Euro, and other real-world currencies). Therefore, it can be used by the whole world. Wink
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September 24, 2018, 08:12:07 AM
 #77

Our attention. As such, Bitcoin is a finite currency, and an infinite currency for hundreds of uses around the world. Maybe at the time, we will end up paying for a bitcoin worth a few dollars. Therefore, it is one of the advantages Bitcoin has on traditional currency, allowing anyone in the world to use it for their desired heart.
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September 24, 2018, 08:22:24 AM
 #78

I see no problem with Bitcoin having a maximum total supply. After all, with Bitcoin's supply, we are assured that it will not be manipulated by someone powerful who has the access to it. Unlike with fiat money, we really know nothing about its supply and value creation. At least with Bitcoin, the supply is fixed. In addition, Bitcoin has a total of 8 decimals. It has a lot of leeway even if a single Bitcoin will reach $100,000.


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