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Author Topic: If everyone in the world owned bitcoin each would have 0.003btc  (Read 478 times)
sammyp
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March 11, 2019, 10:58:57 PM
 #21

Based on what calculations did they come by the 11 dollars per each human alive? Did they divide bitcoins in circulation (17,583,250) by number of people alive worldwide (very challenging figure to get)? I just cant imagine the source of this 11 dollars.
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March 12, 2019, 12:19:29 AM
 #22

If you work on 21 million coins and a world population of 7 billion then it's actually 0.003 BTC per person or 3.0 mbtc.
I am afraid neither your grammar nor your calculus is ok.


ip finder
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March 12, 2019, 12:46:11 AM
 #23

Given the amount of bitcoins that have been lost and continue to be lost, that might be an optimistic figure. There is also a human tendency to hoard - thus preventing bitcoin from ever being anywhere close to evenly distributed. I believe investors should adopt the mindset of holding satoshis rather than bitcoins, given that in the future it will be impossible for everyone to own a whole bitcoin.
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March 12, 2019, 03:10:40 AM
 #24

As of now if every person in the world they would have $11 worth of bitcoin right now.
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold

This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.

So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?

The error in this thought process is that everyone needs bitcoin, they don't and won't.
Other Crypto can be used, everything bitcoin can do so can litecoin including Lightning network.

~40% of the world population has no internet access, so doubtful they care about any crypto.

Look at it this way , do you own a Lamborghini ,
if not , probably because you don't feel you need it or can't afford it.
The Majority of the populace feels the same way about crypto , they don't feel they need it or can't afford it.

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March 12, 2019, 03:12:21 AM
Last edit: March 12, 2019, 03:52:26 AM by rdbase
 #25

If you work on 21 million coins and a world population of 7 billion then it's actually 0.003 BTC per person or 3.0 mbtc.
I am afraid neither your grammar nor your calculus is ok.


ip finder
It is not based on 21 million bitcoin. It is on the amount of bitcoin that are currently in circulation.
If you cared to read the article of which I did not publish.
And the world population is closing in on 8 billion with 7.689 billion now.
What are you a bot account because you created an account just to post one message? Roll Eyes And what is with the ipfinder url? You hoping someone will click on it accidentally or something. Sad

Guys, he is saying it with an "IF".

But it's true that we're going to that point when each person owns a bitcoin 0.003 or higher, there would definitely a shortage that will strengthen the demand.
Yes. I said "if" as it is all hypothetically speaking.

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March 12, 2019, 04:59:53 AM
 #26

Based on what calculations did they come by the 11 dollars per each human alive? Did they divide bitcoins in circulation (17,583,250) by number of people alive worldwide (very challenging figure to get)? I just cant imagine the source of this 11 dollars.
It's because they ended up with BTC0.003 which is about $11 and some change. They used the maximum supply of Bitcoin and divide it by the approximate population of the world which is about 7+ billion. In reality it's impossible for every person to get BTC0.003 because there's no cap on how many bitcoins we can own.


It is not based on 21 million bitcoin. It is on the amount of bitcoin that are currently in circulation.
If you cared to read the article of which I did not publish.
And the world population is closing in on 8 billion with 7.689 billion now.
If you check the tweet(shortcut) linked on their post they did actually use the maximum supply and when it's based on the current circulating supply you'll get less (BTC0.0024+).

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March 12, 2019, 05:12:19 AM
 #27

meanwhile 0.003btc doesnot have any worth  Embarrassed
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March 12, 2019, 11:57:09 AM
 #28

I do not see nothing wrong is such assumption, it is just game of numbers based on total supply / or current mined bitcoin compared to the total number of people in the world today. From this point of view there is nothing controversial, but we all know this is quite impossible scenario.

Because of the facts already mentioned by others, and those most important is internet accessibility, lack of knowledge in order to use technology, or fact that children under 10-12 years of life will not buy / sell / pay with bitcoin.

We should not be afraid regarding availability of bitcoin, there is enough to satisfy all current, but also future needs. With every price increase value of each satoshi is going up, so at 50 000$ per one bitcoin, 0.003 BTC is worth 150$, and this is only 12x up from current price.

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March 12, 2019, 12:05:05 PM
 #29

Guys, he is saying it with an "IF".

But it's true that we're going to that point when each person owns a bitcoin 0.003 or higher, there would definitely a shortage that will strengthen the demand.
Its actualy possible to own a little bitcoin because of increasing demand, but if you are willing to hold your bitcoin for the next 10 years then you can be one of the investors who owns a lot. I expect bitcoin to be more valuable in time, so hold more.  Smiley
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March 12, 2019, 01:39:16 PM
 #30

I think yes, if everyone in this world want Bitcoin then there will be shortage, more people want it more expensive it will become and people will want to buy more, but not everyone are interested in Bitcoin, some people still label Bitcoin as scam or criminal coin, and when the price is too high people will find other coin to invest


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March 12, 2019, 03:54:20 PM
 #31

This is probably just a arbitrary number. World population will grow and so as the price of bitcoin. So maybe in the next 5 years if will be difficult.

But the thing is not all people will at least earn some satoshi's in their lifetime, perhaps they are not aware of bitcoin or they don't really like it even if it will be used as form of currency in the future.

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March 12, 2019, 05:06:37 PM
 #32

As of now if every person in the world they would have $11 worth of bitcoin right now.
https://news.livecoinwatch.com/bitcoin-each-human-alive-getem-cold

This wouldnt include the number of bitcoin which were lost due to theft or misplaced private keys.

So would this mean there will be a shortage of the available bitcoin accessible to those who would want to own some of this cryptocurrency?
You are missing so many points here which will prove that there won't be any shortage of bitcoins.

1. The bitcoins which are not mined yet would not have been included in your calculation.
2. The price of bitcoin will keep changing. $11 worth of BTC now might be equal to $11000 worth of BTC in future.
3. Dividing BTC further will never be an issue because it can be divisible beyond the 8 digits it is already divided into.

So the amount of BTC a person holding might be less if BTC is in mass adoption but then the value of it would be very high.

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March 12, 2019, 05:38:23 PM
 #33

I think that is not possible well there are human populations that are recorded and some are not recorded, tribes in the interior that are not touched digitally will definitely not have a bitcoin so that is not possible. the supply of bitcoin is still available in the exchange so those who want bitcoin must buy only that, by the way bitcoin has been set only 21MBitcoin total supply so the supply will indeed decrease
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March 12, 2019, 05:46:57 PM
 #34

There are approximately 60 trillion dollars in this world (paper money, etc.). That is 6*10^(13) dollars.  This is 10000 dollars for everyone in this world.

 If 10000 dollars would be 0.003 bitcoin then 1 bitcoin would be approx. 3.33 million dollars.

This happens in 2019, in 10 years from now, the value of 1 bitcoin could be 60 million dollars, if it were to replace every money in the world. Smiley

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March 12, 2019, 06:34:47 PM
 #35

Price, adaption, and usage these are some of the main factors in determining Bitcoin shortage in the future. IMO, theres just a very small percentage that it will happen even after the last piece of Bitcoin will be mined, since the value of 0.003BTC will never stay at $11 for the rest of its remaining existence, it will constantly change.

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Bonsaiav
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March 12, 2019, 06:54:12 PM
 #36

Even though I don't know exactly, when is it time ?, but the amount of bitcoin supply's sure to shrink along with the increase in the human population, meaning that the increase in the number of users is likely to occur, although not all of them buy/use bitcoin.

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March 12, 2019, 08:02:05 PM
 #37

Bitcoin continues to spin and move from ownership A to B and so on, which means that no one really keeps saving because of his madness towards holding. Bitcoin continues to develop into a payment tool and of course it will continue to circulate and of course there will be no shortage of bitcoin and I don't think this is a problem and bitcoin will be fine without having to worry about fear of lack of bitcoin even though the supply of bitcoin is indeed limited

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March 12, 2019, 08:18:52 PM
 #38

\How did you calculate $11? If everyone in the world owned bitcoin, wouldn't the price be higher?

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March 12, 2019, 08:58:20 PM
 #39

When comparing this that would be a huge differences are there when using the Bitcoin why the people it would be very small amount so I think it would not been possible at any time to reach each and every single people in this world and if it possible that will be a value was very low to with kind at that time.

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March 12, 2019, 10:40:03 PM
 #40

Guys, he is saying it with an "IF".

But it's true that we're going to that point when each person owns a bitcoin 0.003 or higher, there would definitely a shortage that will strengthen the demand.
Its actualy possible to own a little bitcoin because of increasing demand, but if you are willing to hold your bitcoin for the next 10 years then you can be one of the investors who owns a lot. I expect bitcoin to be more valuable in time, so hold more.  Smiley
It will valuable soon somewhere in the future and there's no doubt about that.

Yes. I said "if" as it is all hypothetically speaking.
Most doesn't look to that point of view.

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