blckhawk
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March 09, 2024, 06:34:50 AM |
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Wow, there's about a week's worth of 3 square meals for everybody if you do the numbers on bitcoin distribution per person, I guess it's not that absurd given that there's a 100 million satoshis per bitcoin, they're bound to be able to accommodate everyone, I cam only imagine what it's like when 1$ is 1 sats, that would probably be a long time before it happens or the dollar is just too weak that it's value against bitcoin is that low, even with all the lost coins out there, bitcoin would still be able to accommodate everyone. When you look at bitcoin this way, it just fortifies your belief that it's the best thing and that it's always been for the people even though it's not explicitly stated.
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BlackBoss_ (OP)
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March 09, 2024, 10:35:55 AM |
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I have seen and understood the calculations made here but I think that Bitcoin will never be equally distributed among the world population because not everyone has a stake in Bitcoin.
Wealth is not distributed equally to all people so Bitcoin is not distributed equally to all people is a reasonable fact. The website only shows that calculation and figure to give us feeling that when more people become Bitcoin investors, there will be less chance to buy same number of bitcoin/ satoshi with same capital value. A booming U.S. stock market doesn’t benefit all racial and ethnic groups equally
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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ImThour
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Bitcoin Bottom was at $15.4k
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March 09, 2024, 01:01:27 PM |
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These calculations are useless and I personally don't like to equate this way as referred in the post or the website. It's imaginary stuff rather than facts as what if someone is HODLing more than the amount mentioned in the website? Satoshi per person in the world could not real-time relate with the population around thje world. Also, many countries have banned Bitcoin. Are you excluding them from the list?
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Maus0728
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March 09, 2024, 01:51:23 PM |
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wealth distribution has always been unfair for everyone. when you are born poor and turn into a self-made millionaire, you have done your job well in improving your life. to people with less opportunity, this is just a struggle, this is why we tend to migrate to other countries to work for it.
the internet is not even available in some parts of the country so i don't expect the adoption to spread quickly not everyone having 0.002 BTC.
It's just a scale, it's not meant to be taken literally, it's supposed to show how big is the scale that bitcoin encompasses by showing us how much bitcoin there is by distribution to the population. Wealth distribution could've been fair in the past but humanity loves to make a statement and they want the glamour of status and so they end up with this kind of thing where everyone wants to race to the top and rule over those below you. In regards to the Internet availability, it's going to be this way for a long time because if we try to go for the provision of Internet connectivity wherever you are, a lot of trees and mountains are going to be toppled because there's a need for signal towers and they can't just build those towers without harming the local faunas, so yeah, it's difficult to solve that issue. Imagine if this ever happened though, I can only imagine what the price of bitcoin will be when this happens.
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kryptqnick
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March 09, 2024, 02:27:38 PM |
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Something's very wrong with the website the op shared (or at least it's wrong when I open it). The op mentioned that 234,566 is worth around $ 158.50, so when I opened the website and saw 234,541 as the equivalent of $64.47, I was really surprised. That's when I noticed that the website says that Bitcoin price is $ 27,486.17, when it's actually almost $68.5k right now. So the idea is interesting (although more filters and info would be nice), but Bitcoin price is so off that it's misrepresenting reality too much. It needs a dynamic Bitcoin price (like the dynamic population data and share of sats data) to work properly.
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Troytech
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March 09, 2024, 02:45:53 PM |
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I see an underlying assumption here that I don't agree with: that tomorrow everyone will be using Bitcoin, so let's see how much it would cost if we split it evenly. I believe that in the future the majority use will continue to be, as it is today, as an investment, as an enhanced digital gold. And, since not everyone has investments and not everyone has gold, I think the same thing will happen with Bitcoin. In addition, as with everything, there will be people who will own and others who will own less, as happens now.
To be sincer I really want bitcoin to gain more mass adoption but, but it's fact that a majority of of people would still get into bitcoin cause of the fact that i can create wealth and for profits, no one even cares about p2p or a future when bitcoin would be used by the world for daily transactions at least not with this high gas fees and scalability issues. Something's very wrong with the website the op shared (or at least it's wrong when I open it). The op mentioned that 234,566 is worth around $ 158.50, so when I opened the website and saw 234,541 as the equivalent of $64.47, I was really surprised. That's when I noticed that the website says that Bitcoin price is $ 27,486.17, when it's actually almost $68.5k right now. So the idea is interesting (although more filters and info would be nice), but Bitcoin price is so off that it's misrepresenting reality too much. It needs a dynamic Bitcoin price (like the dynamic population data and share of sats data) to work properly.
Probably an old site that hasn't been updated, I think OP did the calculations with the current price himself, I think there might still be under development.
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Learn Bitcoin
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March 09, 2024, 02:52:02 PM |
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Interesting, but that does not really matter. Because there won't be a time when everyone will have Bitcoin. I guess at least 20% of the population of this world are children and they are unlikely to have Bitcoin. So, The website could have a different stats if they want to make it look more realistic even though we know that it's just for fun.
All I care about is how much I have at this moment and If i will have something for my family when I will pass away.
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Plaguedeath
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March 09, 2024, 02:58:35 PM |
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Something's very wrong with the website the op shared (or at least it's wrong when I open it). The op mentioned that 234,566 is worth around $ 158.50, so when I opened the website and saw 234,541 as the equivalent of $64.47, I was really surprised. That's when I noticed that the website says that Bitcoin price is $ 27,486.17, when it's actually almost $68.5k right now. So the idea is interesting (although more filters and info would be nice), but Bitcoin price is so off that it's misrepresenting reality too much. It needs a dynamic Bitcoin price (like the dynamic population data and share of sats data) to work properly.
Same here, it looks like he create the project when Bitcoin price was at there because there's no movement as we know Bitcoin price is always changed for every second. The developer need to use API to make the Bitcoin price update with the current rate. To be sincer I really want bitcoin to gain more mass adoption but, but it's fact that a majority of of people would still get into bitcoin cause of the fact that i can create wealth and for profits, no one even cares about p2p or a future when bitcoin would be used by the world for daily transactions at least not with this high gas fees and scalability issues.
How does it difference with people who bought Bitcoin for investment? when they buy and hold Bitcoin, they also influencing mass adoption. There's no such gas fees in Bitcoin, in Bitcoin it's just either fees, on chain fees, or Bitcoin fees.
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Bitstar_coin
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March 09, 2024, 03:23:44 PM |
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Perhaps if the interest of everyone in the world was aligned then it could have been possible for everyone to own btc but that is not something that will be possible. Despite how popular btc is, so many people still not interested in it. There will always be those who don't share the same interest as the btc enthusiasts. Mass adoption is a gradual thing, most people and businesses already warming up with the idea of using btc unlike years back. I think satoshi dream about btc is half fulfilled.
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uneng
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March 09, 2024, 04:26:50 PM |
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At top of the site, you can click on Convert to Bitcoin and get 0.002345660014 bitcoins per person.
Even if everyone in the world were interested in acquiring a portion of Bitcoin, they wouldn't be able to have that sum of satoshis, anyway, since large portions of BTC are already heavily concentrated in few whales' hands who own hundreds of thousands of BTC. These people will always be the main benefited ones by increasements in Bitcoin's price, while for the vast majority of the world Bitcoin will have zero impact over their lives, at least directly, although indirectly they can still be benefited when hired and paid by Bitcoin adopters for supplying goods and services, thanks to the BTC profit they have been making along the years. Some people have the wrong perception Bitcoin is going to bring financial equality to this world, and everyone will be richer. The truth is that only the ones who were awake to understand the potential of Bitcoin on the early years have been able to thrive financially, while everyone else is still struggling to survive in the current traditional financial systems where they are inserted.
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BlackBoss_ (OP)
Sr. Member
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March 11, 2024, 05:31:13 AM |
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Even if everyone in the world were interested in acquiring a portion of Bitcoin, they wouldn't be able to have that sum of satoshis, anyway, since large portions of BTC are already heavily concentrated in few whales' hands who own hundreds of thousands of BTC. These people will always be the main benefited ones by increasements in Bitcoin's price, while for the vast majority of the world Bitcoin will have zero impact over their lives, at least directly, although indirectly they can still be benefited when hired and paid by Bitcoin adopters for supplying goods and services, thanks to the BTC profit they have been making along the years
It is an calculation with temporary data and it's all about that. Why is Bitcoin’s supply limit set to 21 million?How is the 21 million Bitcoin cap defined and enforced?The above article has information explains why Satoshi Nakamoto set BTC total supply at 21 millions. According to an email purportedly shared between Nakamoto and Bitcoin Core contributor Mike Hearn, Satoshi reasoned that if 21 million coins were to be used by some fraction of the world economy, 0.001 BTC (1 mBTC) could be worth around €1. This prediction came true back in 2013, when Bitcoin first broke through the €1,000 price point; today, each mBTC is currently worth closer to €8.25.
The email of Satoshi Nakamoto reply to Mike Hearn.
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AmoreJaz
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March 11, 2024, 12:28:01 PM |
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Perhaps if the interest of everyone in the world was aligned then it could have been possible for everyone to own btc but that is not something that will be possible. Despite how popular btc is, so many people still not interested in it. There will always be those who don't share the same interest as the btc enthusiasts. Mass adoption is a gradual thing, most people and businesses already warming up with the idea of using btc unlike years back. I think satoshi dream about btc is half fulfilled.
The numbers for me is actually not useful because, the truth is, up until now, the population who are into crypto is still small. And such figures are all theoretical because as mentioned, not all people are interested on this market. They are just happy and contented dealing with traditional payment method and just go on with their lives using traditional banking system. A lot are still seeing not joining this market for any reason at all.
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yazher
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March 11, 2024, 01:41:10 PM |
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These calculations are useless and I personally don't like to equate this way as referred in the post or the website. It's imaginary stuff rather than facts as what if someone is HODLing more than the amount mentioned in the website? Satoshi per person in the world could not real-time relate with the population around thje world. Also, many countries have banned Bitcoin. Are you excluding them from the list?
This might not have any use for now but later on, we could use this data for personal research or to use it for explanations if you are one of those people who teach others about bitcoins voluntarily. This is only a scenario if ever the whole world will accept bitcoins and wants them for every single one of them and we all know someday, fiat will no longer be the money to use in the future just like gold and silver and it won't have any value anymore unlike those two that are still have value until today. If the country collapses due to international conflict which will lead to others getting conquered, then their money will also be lost and people there will have no choice but to convert it into bitcoins.
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Assface16678
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March 11, 2024, 11:13:49 PM |
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Perhaps if the interest of everyone in the world was aligned then it could have been possible for everyone to own btc but that is not something that will be possible. Despite how popular btc is, so many people still not interested in it. There will always be those who don't share the same interest as the btc enthusiasts. Mass adoption is a gradual thing, most people and businesses already warming up with the idea of using btc unlike years back. I think satoshi dream about btc is half fulfilled.
The numbers for me is actually not useful because, the truth is, up until now, the population who are into crypto is still small. And such figures are all theoretical because as mentioned, not all people are interested on this market. They are just happy and contented dealing with traditional payment method and just go on with their lives using traditional banking system. A lot are still seeing not joining this market for any reason at all. Well truen, we can't be sure how many people are into bitcoin and even how much bitcoin they have. We can't predict or know that because not all people in cyrpto currency or bitcoin will show themselves and let others know how much of an asset they have, but I'm pretty sure there are a lot of what we called "whales." This person or even company is one of the biggest holders and investors of bitcoin, so they have the power to manipulate the market by engaging in the market, so we can't determine how many people or population owns a bitcoin. But we should appreciate the fact that there are investors and believers in bitcoin, meaning bitcoin will never ever reach its current state without the mindsets of its investors. If we really aim for income or profit, then right now the bitcoin price will drop as many investors will sell, but no, because we believe in bitcoin, we know it can reach a greater height.
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