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    Author Topic: Can everyone in the world have bitcoin.  (Read 950 times)

    • Wiwo
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    August 25, 2023, 07:56:42 PM
     #121
    Quote from: Husseysamuel on August 25, 2023, 09:29:40 AM
    Yes, theoretically, everyone in the world can have Bitcoin. Bitcoin is a decentralized digital currency that operates on a global peer-to-peer network. As long as individuals have access to the internet and the necessary technology (like a computer or a smartphone), they can participate in the Bitcoin network by creating a wallet and acquiring Bitcoin.
    When we talk about bitcoin distributions the quantum of bits is available to go around the entire world population but I think this is not what the ops are trying to bring out here I believe he is talking about bitcoin adoption as a global financial tool,  which brings us to the reality that not everyone will use or adopt bitcoin because we have a large portion of the global population still unbanked and living without internet or any device to hold bitcoin at all.

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    August 25, 2023, 09:08:46 PM
     #122
    Quote from: radjie on August 24, 2023, 05:58:54 PM
    Of course, this is unlikely to happen with the limited amount of supply that has been set.
    I think the limited amount of Bitcoin supply isn't an obstacle, people can buy in a small number (in mBTC, or in Satoshi in the future).
    If the price of Bitcoin is always growing, it is possible that someday 1 Satoshi is valued 1 dollar. And in the exchanges, people may buy Bitcoin with the small number in Satoshi. However, it is just our speculation that 1 Satoshi of BTC can be more expensive in the next few years.

    Quote from: radjie on August 24, 2023, 05:58:54 PM
    And another reason, Bitcoin is not a legal currency so most governments still have rules if Bitcoin cannot be used as a legal means of transaction.
    Bitcoin is still not a legal currency or not a legal investment in several countries in the world. If the government bans BTC, people have no chance to own it. Moreover, when the governments declare that people who try to own it to be punished and their BTC will be confiscated by the government. So, people have no intention to own it, people don't want to waste their money in BTC.
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    August 26, 2023, 03:31:54 PM
     #123
    Quote from: RewFrew on August 22, 2023, 11:52:16 PM
    I think can everyone in the world have bitcoin. If Bitcoin quantity is limited. But if everyone understand about bitcoin and able to creat It's usability then bitcoin will be available everywhere. Recently we saw many Super shop, Bank, Hotel are accepting Bitcoin. So to fulfil our basic need we have to use Bitcoin today or tomorrow. As Bitcoin quantity is limited But i think everyone will have small amount of Bitcoin that are not so far. Everyone will use it for his need. So i think Can everyone in the world have bitcoin.

    We have 21 million Bitcoin so if everyone wanted to have 1 Bitcoin we can't have more than 21 million holders but every individual can't afford to buy one bitcoin now and when bitcoin increase in the future more individual won't be able to afford owning one bitcoin but they'll buy as their money can buy which means they'll be owning a fraction of the one bitcoin. Millions of individual can decide to own 0.1mBTC or lesser amount and that'll mean more individual can own bitcoin by buying lower amount.

    In the future Bitcoin would be used for transactions globally and more individual will get to benefits from using Bitcoin and this will bring about more adoption which will increase the price of Bitcoin, now is the perfect time to accumulate bitcoin not in the future.
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  • Smartgoat
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    August 27, 2023, 04:27:25 AM
     #124
    the answer is no, remember BTC is a digital currency. there are many people in some rural areas that have not hard about it before. what of some old men and women that can not handle phone talks of to trade BTC. BTC is 21 million, why the world population is far more than 21million.  so everyone cannot have BTC.

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    August 27, 2023, 07:23:30 AM
     #125
    Absolutely Not, Because some younger people can't understand Bitcoin, and some older also can't understand Bitcoin and some people can't afford to buy Bitcoin. That's why everyone in the world doesn't have Bitcoin.
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    August 27, 2023, 07:45:49 AM
     #126
    Quote from: Shumyl on August 27, 2023, 07:23:30 AM
    Absolutely Not, Because some younger people can't understand Bitcoin, and some older also can't understand Bitcoin and some people can't afford to buy Bitcoin. That's why everyone in the world doesn't have Bitcoin.
    Well, if you are talking about poor people, yes they are less fortunate and we can think they can't. But if we talk about young people, you can never say NO to them because this time they are ignoring Bitcoin and have no interest, yet it can be changed. As Bitcoin keeps on growing, we can't just say that people will ignore this but for sure, the time will come when they get through it and invest. In fact, just comparing ourselves before, investing in Bitcoin is not on our mind but now, we are even spreading information and good news about Bitcoin. And this will also happen to young people who you taught that they never understand Bitcoin.

  • big kid
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    August 27, 2023, 08:26:03 AM
     #127
    It's possible in theory since BTC can easily be divided. But most likely that's not gonna happen. Some just won't use it anyway. And don't forget that whales are holding thousands of coins. And we don't know how much is actually lost forever.

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    August 27, 2023, 01:36:56 PM
     #128
    Quote from: irhact on August 26, 2023, 03:31:54 PM
    Quote from: RewFrew on August 22, 2023, 11:52:16 PM
    I think can everyone in the world have bitcoin. If Bitcoin quantity is limited. But if everyone understand about bitcoin and able to creat It's usability then bitcoin will be available everywhere. Recently we saw many Super shop, Bank, Hotel are accepting Bitcoin. So to fulfil our basic need we have to use Bitcoin today or tomorrow. As Bitcoin quantity is limited But i think everyone will have small amount of Bitcoin that are not so far. Everyone will use it for his need. So i think Can everyone in the world have bitcoin.

    We have 21 million Bitcoin so if everyone wanted to have 1 Bitcoin we can't have more than 21 million holders but every individual can't afford to buy one bitcoin now and when bitcoin increase in the future more individual won't be able to afford owning one bitcoin but they'll buy as their money can buy which means they'll be owning a fraction of the one bitcoin. Millions of individual can decide to own 0.1mBTC or lesser amount and that'll mean more individual can own bitcoin by buying lower amount.

    In the future Bitcoin would be used for transactions globally and more individual will get to benefits from using Bitcoin and this will bring about more adoption which will increase the price of Bitcoin, now is the perfect time to accumulate bitcoin not in the future.
    The potency of Bitcoin cannot be denied. Is it not all about mathematics? There are exactly 21 million Bitcoins. Limited in number. Physically manifest. Contrary to the continuous printing of paper currencies!

    Even a fragment of this cryptocurrency pie is available to everyone, regardless of their financial standing. To ride the surge, you do not need a full Bitcoin. Grab your surfboard and ride whatever portion of the wave you can afford.

    Bitcoin for international trade? Yes, indeed! Imagine purchasing a hot dog in New York, then a taco in Mexico City, and maybe even a croissant in Paris, all with Bitcoin! It is an international language, friend. And I have to give you credit, the future is bright, and the early bird catches the worm. Not tomorrow, but today is the moment! Together, lets change the world by purchasing that Bitcoin.
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  • BVeyron
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    September 09, 2023, 05:57:04 PM
     #129
    Quote from: Ruttoshi on August 20, 2023, 12:58:58 PM
    I know that the reason why we need to tell people about bitcoin is to spread the awareness of bitcoin,so that more people will adopt bitcoin so that it can be recognised and use by everyone just the way fiat is used. This will make bitcoin value to increase due to its volatile nature and the price is been controlled by demand and supply. Bitcoin is limited in number as we all know that we only have 21million bitcoin.

    I have been wondering as a newbie with little knowledge on bitcoin that how is it possible for everyone in the world to own some fraction of bitcoin with the limited number just like the way everyone is using fiat.  Is it that these 21million bitcoin will be enought to serve the world with a total population of 8.1 billion because I know that we have whales who will buy a huge amount of bitcoin and just store it in their wallet without using it,just the way the rich men and politicians keep so much funds in their account or at home without spending it. I also notice that one country can't print the currency that the whole world is using but various countries printed their own currency. Another thing that I noticed so many investors prefer to holdli their bitcoin which might make it not sufficient for everyone.

    My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?


    It's possible, since there are lots of Satoshi, so money supply would be OK if BTC becomes worldwide popular. This is also the mechanism to avoid inflation: the maximum limit af all the money available. However, there are other problems. First, money holders are able to control inflation if their actions are centralised. Secondly, many wallets are lost forever, and the number of lost wallets is increasing, so, at some point, after all the BTC are mined, we will have continuously decreasing amount of money (instead of fixed amount of money, as it was meant to be). In case of high adoption level and high popularity of BTC it would also be a trouble.
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    September 09, 2023, 06:21:04 PM
     #130
    You’re right, there are exactly 21 million Bitcoins in existence. The big corporations are also buying bitcoins in large amounts, and so are regular people. That’s why it’s important to buy bitcoins now that it is affordable because scarcity will increase the price. Even though bitcoin is not widely used as a currency, I believe before the 21 million is reached, bitcoin would have become so popular and accepted by businesses that it would be nearly impossible not to have Satoshis.
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  • tokyohd
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    September 10, 2023, 04:39:37 AM
     #131
    My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?
    [/quote]
    No, it is not possible for everyone to own a whole Bitcoin due to the limited supply. Bitcoin has a maximum supply of 21 million coins! So it is impossible for everyone in the world to have one bitcoin.

  • HONDACD125
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    September 10, 2023, 05:09:35 AM
     #132
    Quote from: tokyohd on September 10, 2023, 04:39:37 AM

    No, it is not possible for everyone to own a whole Bitcoin due to the limited supply. Bitcoin has a maximum supply of 21 million coins! So it is impossible for everyone in the world to have one bitcoin.


    It is true that the supply is limited to only 21 million and if you look at the entire world's population and divide the Bitcoin by that, it seems impossible. On the other hand, big companies and big capitalists have invested in Bitcoin and bought a large number of Bitcoins. I don't think they will easily sell their bought Bitcoin. Its price should also be considered whether it can be bought by everyone.


    The most important thing is that no one can get Bitcoin for free, rather Bitcoin can be purchased by investing a large sum of money. There are people in the world who can't even buy a fraction of Bitcoin and the majority don't know anything about Bitcoin, so it won't be easy to convince them to buy Bitcoin. So keeping all these things in mind. , it can be said that it is impossible for everyone to get Bitcoin.
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  • fruktik
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    September 10, 2023, 05:29:40 AM
     #133
    Quote from: Smartgoat on August 27, 2023, 04:27:25 AM
    the answer is no, remember BTC is a digital currency. there are many people in some rural areas that have not hard about it before. what of some old men and women that can not handle phone talks of to trade BTC. BTC is 21 million, why the world population is far more than 21million.  so everyone cannot have BTC.
    In my country, in many rural settlements there is not even a cellular connection, and you can completely forget about the Internet. Well, how can such people even find out about the existence of Bitcoin? Everything is much sadder here. A lot of people do not have access to the World Wide Web. What kinds of crypto purchases are we talking about? Civilization has bypassed many places on Earth.
    Naturally, with the deflationary model of Bitcoin, the price of this coin will only increase. Demand will also not go away and will become much greater than it is today.
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  • Gyfts
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    September 10, 2023, 07:05:26 AM
     #134
    21M total coins is an arbitrary number and the number of total coins in existence is irrelevant. If there was a point in time that demand was so high that Bitcoin was a global currency, the value of each coin goes up because the total possible supply remains stagnant.

    Say everyone's coins were halved tomorrow. Would that make any difference if the purchasing power of one bitcoin were doubled? No.

  • icalical
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    September 10, 2023, 12:38:41 PM
     #135
    If the question is whether or not Bitcoin is enough for every person in this planet, then the answer is of course yes, a simple supply and demand rules if everyone wants bitcoin the value will increase so even owning a few Satoshi is enough for monthly expenses, so it will always be enough. But if the question is whether everyone can have a bitcoin, for now probably not, there are some countries that Bans bitcoin, the people definitely shouldn't own Bitcoin, some area don't have any supporting market/exchange for Bitcoin so owning bitcoin is pointless, some area doesn't even have a reliable internet connection so may doesn't even have any idea what is Bitcoin.
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