Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: warrior.crypto22 on January 08, 2019, 09:03:32 AM
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The number of bitcoins is only 21 million, will that be enough in the future? Given the vision of Bitcoin to become a currency used throughout the world?
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The number of bitcoins is only 21 million, will that be enough in the future? Given the vision of Bitcoin to become a currency used throughout the world?
This is solved by the fractions of Bitcoin. During 2011 and 2012, the price of Bitcoin was around a dollar, mt wallet was set to BTC to do transactions. When it reached around a thousand dollars, I set it to mBTC (BTC/1000). Bitcoin's lowest denomination is Satoshi = 0.00000001BTC. When Bitcoin gets widely used, we will have a small fraction of it to do transactions.
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I believe it would be enough. Its not necessary that everyone should hold 1 btc. Even fraction of btc satoshi would be enough.
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I believe it would be enough. Its not necessary that everyone should hold 1 btc. Even fraction of btc satoshi would be enough.
Then does the existence of bitcoin affect the price of bitcoin?
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With supply like that it is also very difficult to mine Bitcoin, especially if there is a lot of supply from Bitcoin.
In my opinion it might last a long time and I think it's enough for Bitcoin throughout this world.
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The number of Bitcoins that are only 21 million will not meet the demands of so many people, but the number of Bitcoin is only 21 million, will make the price of Bitcoin very high, depending on the demand of the world community.
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The number of Bitcoins that are only 21 million will not meet the demands of so many people, but the number of Bitcoin is only 21 million, will make the price of Bitcoin very high, depending on the demand of the world community.
Bitcoin is not the only crytocurrency available. If it is difficult to use it people will switch to something else. This is a common error we do when thinking about Bitcoin, because we think that it will be the only means for transaction. It is not this way. I use Litecoin and Dogecoin too. So Bitcoin, with a high price will be suitable for large transactions like, selling a house or buying a car. Other coins will be used for everyday transactions.
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That is what makes bitcoin thick. It will remain the same volume and out of this 21million, it is only about 16 million that is in circulation. Increasing the volume will hamper the bitcoin.
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Yes, you have said correctly, that total of 21 million will make Bitcoin hit the moon in the shortest time. This is one of the forces that is driving the coin to the admiration of every enthusiasts and users world wide. I think 21 million mark is enough. Thanks
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Short supply means higher prices. Hence, Bitcoin is a very profitable investment if you can afford waiting a decade or even longer.
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the more those who are looking for bitcoin, the more expensive the price of bitcoin, because even though enthusiasts are increasing, the availability of bitcoin will not increase
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Demands makes bitcoin much desirable.
Though it is just 21 million supply the demands is more than 30 million.
The world population is not just 30 millions nor 100m.
According to recent statistics as of November 2018 the world population is 7.7 billion.
Assuming every person on earth knows bitcoin what would happen to demands and value.
Possible regulations will be implemented in order to control huge investment.
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I think it will be enough, and if demand increases then it will make the value of bitcoin higher, bitcoin will become a cryptocurrency with high asset value.
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There are only 21 million Bitcoin in total and some of them were lost forever. But come to think of it, how many sats are there? Don't you think that's enough?
I also read an article the other day that inactive wallets that holds huge amounts are getting fewer. That means we'll probably see more supply in circulation.
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Yes, you have said correctly, that total of 21 million will make Bitcoin hit the moon in the shortest time. This is one of the forces that is driving the coin to the admiration of every enthusiasts and users world wide.
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That's what makes the reason for bitcoin prices expensive. With a stock of only 21 million coins. That's what many people really want to have. I think if it's not enough, there will be other alternatives.
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I think that bitcoin is enough, it is enough for a constant turnover,there is no deficit, just not all people want to sell bitcoin, because now is a bad time for some transactions
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The number is large enough. It is not really bad number because we have many altcoins to support it. The limited amount of Bitcoin also makes the price to be quite stable. I think we must think positively about the future of BTC.
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That must be enough while the circulating ones are now over 17 million and there are still many leftovers that have not been screened by miners because the level is getting harder
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The number of bitcoins is only 21 million, will that be enough in the future? Given the vision of Bitcoin to become a currency used throughout the world?
I must say the 21 million Bitcoins were more than enough. A common misconception among people who wants to invest on Bitcoin is that they have to buy an entire Bitcoin. Very much not true. Since Bitcoin is digital and practically infinitely divisible, it is possible to buy, sell, send and receive small fractions of this coin. We don’t need to transact with a “whole” unit. Each Bitcoin can be divided into one million bits (1,000,000). The smallest possible unit, called a "Satoshi", is 0.00000001 BTC.
Breaking Bitcoin down into smaller units makes it useful for day to day transactions.
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Limited supply of bitcoin is one of the features that makes it unique and even though it’s not the only currency, it will still be enough.
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21 mln is enough, cuz, not everyone will hold bitcoin, and if the price is quite high 0.1 BTC is enough too
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In my opinion, the number of bitcoin is not balanced with demand. The number of bitcoin users continues to grow, while the number of bitcoin is still no additional. This is what makes the price of bitcoin expensive.
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the more demand and the stock does not increase then that will cause the price of bitcoin to be more expensive, market law
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the number of bitcoins from the start was indeed limited to 21 million in supply, and I don't know what that number meant, and I think personally that that much is not enough to supply people all over the world.
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If then Bitcoin becomes world's digital currency, I think it should be some improvements and changes. I am sure Bitcoin can make it yet Bitcoin has all indicators to be the world's digital currency. But for now, it has some problems that must be fixed firstly in order to become digital currency for the world.
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First of all, it is necessary for all governments to recognize bitcoin and make bitcoin legalized cryptocurrency, then bitcoin will begin to open up completely and will show all its capabilities.