How to distribute 21 million Bitcoins for a population of 7.8 billion?

[KevinRosa]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

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[NeuroticFish]

and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time

Bitcoin is not something people get just for being born on this planet. It's not a birth right. People have to work for it or people have to buy it. So what are you talking about?
By your calculation, I would be entitled to receive 12.2 grams of this planet's gold and I haven't received any yet.

Will people use Bitcoin for normal transaction payments?

Sure. If you look closer, 1 BTC = 100 000 000 satoshi. If you look even closer, Lightning Network already works with sub-units of a satoshi. So there's plenty of room to work with.


But all this was discussed a very good number of times already; it didn't pop up at any searches you've made before asking?!

[titular]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

If Lightning Network is successful in its complete implementation, Bitcoin will certainly "normal" transactions. By "normal" I am assuming you mean transactions like coffee in the morning.

I also believe that the crypto ecosystem will have roles to play as well. While none of them will have the same store-of-value status as bitcoin, they will have jobs to do.

In my opinion, most of this relies on LN being implemented properly. If Layer 2 solutions aren't able to work properly (which they do) it could hinder bitcoins progress.

[SquirrelJulietGarden]

The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC.

Bitcoin is not created in order to be distributed to everyone. You have to mine it or buy it or work to earn it.

Bitcoin is created with satoshi vision to M1.
Jameson Lopp highlights Bitcoin's market cap in comparison to national M1 money supplies
Why is Bitcoin’s supply limit set to 21 million?

At the time of Bitcoin's creation, the entire world's money supply stood at approximately $21 trillion. This figure, known as the M1 money supply, is made up of the total value of all the physical money in the world, including cash, coins, travelers' checks, and more.

But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion.

Population is unpredictable especially for more than one century.

I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments?

They will use it but there will be many more options with altcoins and fiats for them to choose. It is unrealistic to think that 1 century later, the world will have Bitcoin for transactions only.

[Darker45]

It won't go nowhere. It will become more mainstream as a currency, though. However, in 2140, Bitcoin mining won't end. Even after the last Satoshi is mined, Bitcoin mining operations will still continue. The miners will continue to secure the network as well as earn from it, only that their earnings will be coming from transaction fees alone and not anymore from block rewards.

As to its distribution, I guess it won't change much. It's just that by that time more and more people are going to acquire Bitcoin by working for it rather than buying or converting from fiat.

[mk4]

People get bitcoin when they buy some, mine some, or receive them for payments. Bitcoin is obviously not something that's just airdropped to every single person's wallets because that's obviously heavily flawed and there's literally no way to do that in a decentralized and trustless manner.

[NicNacCoin]

About 21 million (17 million in the market) Bitcoin total supplies but  a few amount of people knowing about cryptocurrencies, who's the richest person in the world, he can buy Bitcoin.

[Lucius]

The world population is about 7.8 billion, and the current number of bitcoins is about 17 million.

If you are doing badly with numbers, maybe you should research a bit before writing posts, because your 17 million is actually 18 750 125 at the moment - so while that may not be that important in the context of your question, a little more precision wouldn’t hurt anyone.

As some others have already written, Bitcoin is not the magic money you get just like that and there is no law that says everyone must own it - and even that we want to give everyone the smallest amount of 1 satoshi, how to do that since some 40% of people do not have internet access? I remembered as I wrote this that we could send them a paper wallet - but what would they do with it, maybe use it to set the fire?

[aysg76]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

If you don't do anything and sit ideal you will also not get fiat currency in form of salary,profits,gifts or anything because you have to work for it and earn it any way possible to you and same is the case with Bitcoin.It was made with aim to provide an alternate to the fiat currency in a decentalized way not to give everyone on the planet a chunk of 21 million btc so you could also have a Sathoshi with you if not whole Bitcoin.The coins will be in circulation and using LN you can easily make transaction buying a cup of coffee at your local shop which is main aim of Bitcoin for Sathoshi and all of us.When it was made in 2009 then the world population was around 8 billion already and he knew it so it was secondary thing and first was to provide you freedom of funds.You are still early to adoption and can have a part of it.You cannot get equal part in every technical assest so the main point is how early you have that vision to acquire it.

[Miaallen]

Bitcoin or any of the Cryptocurrencies doesn't need any form of distribution. Bitcoin is going to be something like stocks that people invest into and that is even if it eventually becomes generally accepted. Anyone who pleases will go and invest into it.

Since not everyone is interested in stocks or shares investment, not everyone will also invest in the Bitcoin.

[Jawhead999]

You need to think first about how to mine Bitcoin? Of course to mine Bitcoin is using mining rigs and electricity. Where does the Bitcoin you mine will be stored? It will stored in your own wallet. So it's mean if you mine Bitcoin you will get the Bitcoin itself, it doesn't mean you mine Bitcoin and your Bitcoin will be automatically stored in all people wallets.

If Bitcoin is distribute well to all people in this world, I doubt Bitcoin will have a value like now.

Bitcoin can be used for normal transaction if the volatility is less than right now and after everyone are start using lightning network to reduce fees.

Those digital currencies you said is altcoins and IMO there's no altcoins will assist Bitcoin, most of them created to beat Bitcoin itself.

[BlackHatCoiner]

The world population is about 7.8 billion, and the current number of bitcoins is about 17 million.

The conclusion is that 1 BTC is an enormous amount if we assume that billions of people will adopt this system, whether they are rich or poor.

But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time?

Is there really any possible way for someone to even predict what will happen in that year? But, to correct you, if Bitcoin is still a thing in 2140, mining won't stop; the currency will officially be deflationary and miners will be satisfied by the mining fees. Without mining, there's no Bitcoin.

[avikz]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

Bitcoin is not the birth right of every citizen. So there is no question of distributing all mined bitcoin amongst the world population. When a centralized fiat currency cannot be distributed evenly, how on earth a decentralized currency like bitcoin will be distributed? So thinking about it is only waste of time.

Other digital currencies will obviously be there! Even today we are having thousands of different cryptos. People are using them as well. But if you are thinkin about a fair distribution, that's not going to be possible!

[michellee]

I do not think all people in this world will have bitcoin because many people will not want to use bitcoin. The amount of bitcoin that people have will be different because we know some people already joined in bitcoin from a long time ago and they still have a large amount of bitcoin. But as bitcoin price still not increase too high, it will give more chances to people to buy bitcoin as many as they can because someday, when bitcoin price increase so high, they will not have a chance to buy bitcoin in a big amount.

[ranochigo]

The divisibility or the denomination of Bitcoin solves the problem; value can be proportional to the fraction of Bitcoins that you own.

The value of Bitcoins divided by the population will definitely be much lower, due to the burned coins, either intentionally or unintentionally. Bitcoin is designed with a decreasing inflationary trend, but by the definition of purchasing power, then we've had quite a bit of inflation in the recent years. Bitcoin isn't affected by possible inflationary problems; because it is infinitely divisible. However, Bitcoin is an entirely new concept, or an experiment of a currency where there are no external mechanisms to regulate the economy. Whether this is feasible in the long term, remains to be seen.

Some currencies like Monero uses a tail emission system, with a constant inflation. This means the block rewards are constant after some point in time; perhaps more than sufficient to complement the lost coins and still provide incentives for the miner. As I've said, the stability of the network after the 2140 deadline (probably far earlier) remains to be seen. Economics theory holds only with ceteris paribus, but obviously that is never the case.

For all of you that thought Satoshi actually analysed the economic impact of that number:

My choice for the number of coins and distribution schedule was an educated guess.  It was a difficult choice, because once the network is going it's locked in and we're stuck with it.  I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that's very hard.  I ended up picking something in the middle.  If Bitcoin remains a small niche, it'll be worth less per unit than existing currencies.  If you imagine it being used for some fraction of world commerce, then there's only going to be 21 million coins for the whole world, so it would be worth much more per unit.  Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000.  There's plenty of granularity if typical prices become small.  For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is displayed as 1.

[Renampun]

...

not everyone will own Bitcoin even hundreds of years later...

according to WHO data, the world's population will increase many times from now, which means that dividing Bitcoins among the world's citizens must use the smallest conversion that is satoshi, but not all will get Bitcoin for free as happened to the citizens of El Salvador. in the future people will buy Bitcoin at a high cost because of the high demand in the market.

[Taskford]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

Not everyone would provably love the idea of having a piece of bitcoin since some of them doesn't really understand on whats going on in crypto ecosystem since mostly the one they see first is the bad flaws of bitcoins so you shouldn't be worried about that . Always remember that if there are people who hold bitcoins there are more people who's up to buy some supplies for long term holdings.

[DarkIT]

   
    The world population is about 7.8 billion, and the current number of bitcoins is about 17 million. If you don’t consider investment institutions holdings, the per capita is about 0.0021794 BTC. But in 2140, bitcoin mining will end, and the world’s population is estimated to reach 14 billion. I want to know what kind of distribution of Bitcoin will appear at that time? Will people use Bitcoin for normal transaction payments? I think there is no right or wrong view, but I believe that there will be other digital currencies to assist Bitcoin. Where will Bitcoin go?

Your topic was impressive. It had good analysis knowledge. But the mining is happening every day, so it mean the bitcoin capacity is keep increasing everyday. When the traders is keep on increasing, we can able to see some rise bitcoin also. It's reason for not huge rise in the price of bitcoin.

[batang_bitcoin]

Nothing will change as per usage of bitcoin because it's being used for almost everything today so that would be the same if bitcoin will still exist by that time. There are counterparts that we've seen like Ethereum and if you're worried how it will be distributed, crypto tech companies like exchanges that are existing right now, they would still exist if the business keeps on growing and it's still profitable on their end. But why think of that a lot, we're not sure if we're still alive by that time.  

[Vishnu.Reang]

The question itself is wrong. Bitcoin is almost infinitely divisible, unlike fiat currencies such as the US Dollar. For example each USD is divided in to 100 cents. However, each Bitcoin is divided in to 100 million Satoshis. So rather than saying that we have 21 million coins for 8 billion people, we can also claim that there are 2.1 quadrillion Satoshis, available for 7.8 billion individuals. And that comes to around 262,500 Satoshis per capita. That sounds a lot better, right? In other words, around 1 million Satoshis per family.