At the time of this writing, according to Population Matters, there were an estimated 7.8 billion people on earth. While you reading this, the world's population continues to grow slowly.
As the dollar is the agreed global reserve currency, we can imagine everyone owning at least a dollar or trillions of dollars worth of other surplus assets.
Dollars are being printed by a huge margin which at a much faster rate than population growth. This applies not only to the dollar but to the currencies of other countries around the world.
Except for BitcoinBetween its creation in 2009 and 2140 the year that end of the mining cycle, there will be 21m bitcoins Bitcoins been produced (some of which are permanently lost). As of today, about 87% of the total amounts of Bitcoins have been mined. Over the next 120 years, there are remaining roughly 2.8 million bitcoins which are getting exponentially difficult to produce.
Calculate form the current population and currently available bitcoins, we can infer that by distributing bitcoins equally among everyone on the earth, each person would get 0.00234,497 bitcoins. Or, to put it another way, would be about 234497 Satoshi.
Just as we use penny for a fraction of the pieces dollar, we also take Satoshis for a fraction of the tiny bitcoin. In the future, the reality is that most of us will tend to buy and sell Satoshi bitcoins, as the value of Bitcoins will go to a higher level.
At the time of this writing, the price of Bitcoin is about $9,200 and will cost you $20 to own 0.00234,497 bitcoins. In other words, in present, for only $20, you're mathematically guaranteed to have more Bitcoins than the average person on the Earth has in the future.
However, it is a simplification that intentionally excludes many other factors, so we need to look deeper into the actual Numbers.
Eventhough there are still more than two million bitcoins waiting to be mined, but in the next 120 years, more people will be born on earth.Understandably, the projections for the global population in 2140 are varied, but assuming we haven't blown ourselves up or discovered some other ingenious way to wipe humanity off the face of the earth, we should expect the number to reach 12 billion by then.
Similarly, with simple math, if you want to buy bitcoins for your great-grandchildren, meanwhile all remaining bitcoins have been successfully mined,
you would need 0.00175 bitcoins or 16 dollars.
However, there is a significant amount of bitcoin has been lost and may never be recovered. In the early days, bitcoin had no value and was easy to purchase. Those who started mining just for fun in the old-time now having accumulated hundreds (or even thousands) of bitcoins. However, some of them already forget about it or lose the private keys. Without the private key, the Bitcoins will never be recovered.
James Howell, a prominent IT worker in the UK,
dug up 7,500 bitcoins in his early days and accidentally discarded the hard drive where the keys were stored. The hard drive is in a landfill in Wales, and Howell fails for attempting to get permission from the City Council to assess the landfill.
Howell's story is not rare. The Internet is full of people that tell stories about their loss. These kinds of things are still happening today.
There are many estimates and methods for estimating lost bitcoins, which are always visible on the blockchain, but never accessible and there is no way of knowing who they belong to. If we need 0.0023188 Bitcoins then we should have our minimum average amount or $20 worth of bitcoins.
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Topic: BitOffer: Why you should have at least 0.0025 Bitcoins (Read 3150 times)