Bitcointalk Mobile Browser presented by IRLBTC™

>> (p.1)

Author

Topic: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People (Read 1476 times)

tincan2 (OP)

Newbie

Offline

Activity: 13
Merit: 0

7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 01:50:45 AM
Last edit: May 19, 2017, 03:09:17 AM by tincan2

Fun topic! Tongue

The population will continue to grow at an exponential rate. Demand will grow for Bitcoins and other cryptocurrencies, uncertainty will grow in the Stock and Real Estate Market. This is creating the perfect storm for increased purchasing power for BTC.

Due to its rarity and world population boom with many of them being un-banked, there only option will be Bitcoin and other crypto's! Wink

UPDATED 5-18-2017

Thanks for all the great replies to this thread! I admire all of your thoughts. There plenty who agree and disagree as expected. Even if only a small portion of the world economies invest and utilize Bitcoin, those strong holders and users will continue to accumulate more on an ongoing basis.

I accumulate mBTC's daily. About $5 per day automatically after accumulating my core position between $250-$450 per Bitcoin, so I am pretty happy overall. I don't think about the price. I am in this for the long haul and using Bitcoin's momentum to build my purchasing power. By the time I sell/trade my Bitcoins it will be to buy Real Estate to rent when it's extremely undervalued for more cash-flow to again invest in more Bitcoin. Or I will loan out my Bitcoins for continued interest rate of return.

David BTC Silverspoon
~He Who Own Bitcoin, Makes The Rules!

lemipawa

Legendary

Offline

Activity: 1708
Merit: 1006

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 02:57:58 AM

Quote from: tincan2 on May 09, 2017, 01:50:45 AM

Fun topic! Tongue

David BTC Silverspoon

7 Billion is the world population according to United Nations as of 2011 and there's only 21 Million Bitcoin capped according to this site https://www.quora.com/How-many-Bitcoins-are-currently-in-circulation so if that is the case then there's only 0.003 BTC available for every one in that 7 Billion. That is if my calculations are correct.

Hydrogen

Legendary

Offline

Activity: 2730
Merit: 1445

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 03:09:10 AM

More than half of the population thinks bitcoin is an evil pyramid ponzi scheme destined to fail due to lack of bank overlord regulation.

Feel free to be conservative with those estimates.

Cheesy

MingLee

Hero Member

Offline

Activity: 490
Merit: 520

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 03:27:08 AM

Quote from: tincan2 on May 09, 2017, 01:50:45 AM

Fun topic! Tongue

David BTC Silverspoon

Well, let's be a bit more fair and say that Bitcoin becomes popular with the entire population with internet access, so something like 40% of the world population, or 3.2-ish billion people, and remove the rest since they can't effectively use Bitcoin.
You're looking at something like 1 BTC per 125 person, which is still a small amount, however it is less large than the 1 per 357 figure.
Maybe in the future with a sort of hyper-connected world (if we get that far) we can see that number increase, but for now I think we still have >1 BTC/person in the Bitcoin community.

Thatstinks

Sr. Member

Offline

Activity: 249
Merit: 250

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 03:31:12 AM

1 in 357 LOOOOOOOOOOOOOOOL

It is a pozi and you don't even see it.

https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

This is the death blow to universal acceptance, greed.

MingLee

Hero Member

Offline

Activity: 490
Merit: 520

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 03:41:43 AM

Quote from: Thatstinks on May 09, 2017, 03:31:12 AM

I don't think these kinds of numbers should even be surprising to anyone, and this makes a ton of sense and honestly I wouldn't expect for it to be any other way.
However, looking at the chart they provide, having a majority of wallets with next to nothing in them isn't something that really means anything since people use different addresses or they have something more than $2 of Bitcoin in their address. As SOON as you pass $1.68 (now) in your wallet you become part of the 99%.
Weak chart, proves nothing special. I'm part of their 1% off of this.

-ck

Legendary

Offline

Activity: 4536
Merit: 1670

Ruu \o/

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 03:49:02 AM

Now work out how many satoshi per person and try again. Then factor in a hard fork in the future with twice as many decimal places giving us .0000000000000001 BTC as the smallest denomination and try again.

Developer/maintainer for cgminer, ckpool/ckproxy, and the -ck kernel
2% Fee Solo mining at solo.ckpool.org
-ck

Thatstinks

Sr. Member

Offline

Activity: 249
Merit: 250

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 04:03:27 AM

Quote from: MingLee on May 09, 2017, 03:41:43 AM

Quote from: Thatstinks on May 09, 2017, 03:31:12 AM

It is not surprising because it is exactly how the world economy works and we are rallying against the elite when in fact the BTC situation is IDENTICAL!

It is disgusting and honestly heart breaking to see clear as day that the limitations are in place for a small towns worth of people to get ultra rich then the house burns down, mine as well be fiat at this point in the long run.

The real advancement here is the tech, the chain NOT the BTC.

BADecker

Legendary

Offline

Activity: 4242
Merit: 1405

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 04:28:50 AM

Similar topics have been brought up several times. If my calc is incorrect, I'm sure someone will correct me.

A satoshi is this part of a bitcoin = 0.00000001.

This means that there are 100,000,000 satoshi's for each bitcoin.

This means that when all the bitcoins have been mined, there will be 2,100,000,000,000,000 satoshi's around.

If there are 10,000,000,000 people in the world at that time, there will be on average, 210,000 satoshi's per person.

If a satoshi is comparable to a peny, each person will have, like $2,100.

If this isn't enough, the devs of future Bitcoin clients can divide the satoshi as greatly as necessary.

Take a look at http://gizmodo.com/5995301/how-much-money-is-there-on-earth, and do the calculations to see that there is a lot less money around now, than there will be in satoshi's once bitcoins are all mined.

Cool

Covid is snake venom. Dr. Bryan Ardis https://thedrardisshow.com/ - Search on 'Bryan Ardis' at these links https://www.bitchute.com/, https://www.brighteon.com/, https://rumble.com/, https://banned.video/.

OROBTC

Legendary

Offline

Activity: 3122
Merit: 2040

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 04:36:11 AM

#10

...

I don't think that ratio is going to work out the way you might think. It will already be sometime (years) before total BTC population reaches 18 - 20 million... Plenty of time for a new technology (perhaps an "Alt") to come along and dethrone BTC.s

Plenty of time for clever hackers or hostile governments to come along and bust things up. Think that .gov can't hurt (maybe not kill but severely damage)? How about banning easy buying and selling?

Thinking too long-term re concentration in Bitcoin probably is risky....

olushakes

Sr. Member

Offline

Activity: 476
Merit: 254

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:05:39 AM

#11

Quote from: tincan2 on May 09, 2017, 01:50:45 AM

Fun topic! Tongue

David BTC Silverspoon

I will want to disagree with you analysis as per the topic of the thread based on the following:

1. Not everyone in world will have access to bitcoin. Because that population you quote involves the old people in far Asia or Africa who in their entire life have to access to the internet in which bitcoin solely relies.

2. The crypto space is not a socialist system where everyone is to one thing no, but rather a callitalist system where if I can afford 100btc I can go for it and another person might not be able to afford just 1btc.

Herbert2020

Legendary

Offline

Activity: 1946
Merit: 1137

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:17:20 AM

#12

Quote from: Hydrogen on May 09, 2017, 03:09:10 AM

More than half of the population thinks bitcoin is an evil pyramid ponzi scheme destined to fail due to lack of bank overlord regulation.

Feel free to be conservative with those estimates.

Cheesy

i had to double check the date of this comment before say anything Cheesy

at this point in time nobody thinks bitcoin is a pyramid ponzi unless they are an idiot. the days of thinking bitcoin is a ponzi is for back in the earlier couple of years and those days are long gone.
and it was mostly because nobody knew bitcoin and on top of that there was no place to spend it, so nobody got the feeling of the currency part.

now look at Japan, they are the living proof that bitcoin is a legit currency. that is why i said they are idiots.

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.

Karmakid

Sr. Member

Offline

Activity: 742
Merit: 397

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:24:06 AM

#13

Youll just be right if and only if all 7 billion people living in our planet earth will use and adopt bitcoins as their store of wealth or investment.And if all 7 billion people have acces to the internet which seems impossible specially for remote areas in the world

bitmakerBR

Member

Offline

Activity: 62
Merit: 10

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:27:20 AM

#14

The theme sounds very original. But there's nothing to do with reality because I'm completely sure that Bitcoin will not be popular among mankind. All people will use real money and
Bitcoin is the currency for a particular society of people. So do not look at the number of people on the planet and the number of Bitcoins that have a limit.

qiwoman2

Legendary

Offline

Activity: 2114
Merit: 1023

Oikos.cash | Decentralized Finance on Tron

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:35:21 AM

#15

There are a few billion people on this planet that have no access to education, food or water so although it averages out like you say, in reality things are very very different. I do believe though the gap will narrow as more people begin to have access to technology, like mobile devices in developing countries. This may bring more and more people to Bitcoin than previously anticipated.

█▀█ █ █▄▀ █▀█ █▀ ░ █▀▀ ▄▀█ █▀ █░█ █▄█ █ █░█ █▄█ ▄█ ▄ █▄▄ █▀█ ▄█ █▀█

▄▄████████▄▄ ▄███▀▀ ▀▀███▄ ▄██▀ ▀██▄ ▄██ ▄▄▄ ██▄ ▄██ ▄▄▄██████ ██▄ ██ ▄▄▄███████▀████ ██ ██ ▀█████████▀ ▄████ ██ ██ ▀████▀ ▄██████ ██ ██ ▀ ▄███████ ██ ▀██ ██▀█████ ██▀ ▀██ █ ▀██ ██▀ ▀██▄ ▄██▀ ▀███▄▄ ▄▄███▀ ▀▀████████▀▀

▄▄████████▄▄ ▄███▀▀ ▀▀███▄ ▄██▀ ▄▄ ▄▄ ▀██▄ ▄██ ████▄▄▄▄████ ██▄ ▄██ ▀██████████▀ ██▄ ██ ████████████ ██ ██ ████████████ ██ ██ ██████████ ██ ██ ▀█▄ ▀████▀ ██ ▀██ ▀█▄▄▄██████▄ ██▀ ▀██ ▀▀████████ ██▀ ▀██▄ ▄████████▄ ▄██▀ ▀████████████████▀ ▀▀████████▀▀

DeFi on Tron

Oikos.cash offers collateral backed
stable-coins, synthetic asset trading

and trustless token exchange

█████ █ █ █ █ █ █ █ █ █ █ █ █████

██████████████████████████████████████████████████████

JOIN OIKOS

██████████████████████████████████████████████████████

█████ █ █ █ █ █ █ █ █ █ █ █ █████

Amph

Legendary

Offline

Activity: 3276
Merit: 1072

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 05:39:28 AM

#16

1 for every 357 is more than enough when bitcoin will reach astronomical value such as 100k-1M range in $

357 people would get almost $3k out of it, i fidn that bitcoin might help the economy distribution better than fiat in the future, because the poorer who buy now will be richer in the future

and the richer can't buy many or there won't be enough for the pooerer to buy and help the value increase, it's a win win situation

Kakmakr

Legendary

Offline

Activity: 3542
Merit: 1966

Leading Crypto Sports Betting & Casino Platform

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 06:00:33 AM

#17

The theory is flawed in so many ways. A big percentage of these people are kids or elderly people, who have no clue about Bitcoin. A large percentage of the remaining people are totally illiterate or they have no internet access. < rural areas >

I would guess almost 2 million bitcoins are lost already and some coins are not even mined yet. A very large percentage of the remaining coins are being hoarded and not available to be distributed or up for sale. ^hmmmmm^

..^Stake.com..

▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████

Play
Smarter

▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█

Leading Crypto Sports Betting
&&&&& Casino Platform

▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀

..^{PLAY NOW}..

InvoKing

Legendary

Offline

Activity: 2170
Merit: 1075

✋(▀Ĺ̯ ▀-͠ )

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 06:09:41 AM

#18

Once bitcoin will reach high prices and get an interesting number of users, people will make their deals with mBTC so often then with satoshis and so on... Wink

PSPD:law and order enforcement!
Press Section Police Department!

rokkiBalboa

Newbie

Offline

Activity: 53
Merit: 0

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 06:17:31 AM

#19

Quote from: InvoKing on May 09, 2017, 06:09:41 AM

Once bitcoin will reach high prices and get an interesting number of users, people will make their deals with mBTC so often then with satoshis and so on... Wink

You are really right and if without pride there are not those results of the prices that predict and this amount is not only $ 10,000, but there are forecasts and up to $ 100,000 for 1 Bitcoin But this will be after a certain number of years. Then it is really Satoshi who will need to equalize the number of people, not Bitcoin.

dinofelis

Hero Member

Offline

Activity: 770
Merit: 629

Re: 7.5 Billion People 21 Million Bitcoin = 1 Bitcoin For Every 357 People

May 09, 2017, 06:18:08 AM

#20

Quote from: Thatstinks on May 09, 2017, 03:31:12 AM

Indeed, it took me some time to realize that, but the basic religion of bitcoin, which is deflation, is what is making it impossible for this thing to ever become a widely accepted currency. The seigniorage of the early adopters is so tremendiously large that this is never socially acceptable, and moreover the deflationary spiral in which it is falling (on purpose), is turning this in a very highly speculative asset. That said, without this, nobody would ever have heard of it because one wouldn't have the starry-eyed dream of getting rich quickly without it. So probably Satoshi had no choice but to make a would-be currency that turns into a speculative asset and leaves its "universal currency" dream behind it, on the head of the useful idiots that got it running.

Pages: [1] 2 » All

Page 1

Viewing Page: 1