Another thread got me thinking. I'm probably wrong so I'd love to hear from the more mathematically and bitcoin savvy out there.
If we assume only 1.9 million bitcoin remain up for grabs and the rest are being held to some degree, then my thinking is that on mass adoption, the population of the world who own mobile phones would be the holders of bitcoin. There's roughly 6.9 billion smart phone users so each mobile phone users fair share of bitcoin would be roughly 0.00027btc. Around 5$ each.
I know the math will be way off but even at a rough guess it means every holder of bitcoin right now is already wealthy even if you only hold a couple of hundred dollars worth.
1.9 million??
oops
People need to stop assuming the total supply is so low. The rest of the bitcoin in existence can and will be sold for some price or another
The amount currently available on exchanges isn’t too relevant to this. Available supply is constantly fluctuating and if the price went up a lot, many current holders would be willing to sell.
Did 1.2 billion people die and I didn’t notice?
The problem is with “fake” Bitcoin. People are selling contracts for Bitcoin that they don’t even own yet. I think the invention of a spot ETF could reduce the amount of fake Bitcoin. However, if Wall Street has taught me one thing, they won’t use Bitcoin’s ledger to verify. They will just sell Bitcoin on paper via people’s retirement accounts, gross
I would say a no coiners fair share is 0. Zerooooooooooooo like that guy that says btc is going to zero.
I dont think it’s reasonable to predict all smartphone users will adopt bitcoin in virtually any timeframe. They don’t all currently use a single currency why would they all abandon the plethora of currencies they transact through for bitcoin.
Arguments like these just make bitcoin seem like shit. So the point of bitcoin is for everyone to just hold forever?
Ideally, adaptation of bitcoin would be to use bitcoin, meaning that bitcoin constantly change hands, that is, to be used for goods and services. I don’t want people to only convert fiat to bitcoin, but to provide a value to society where, in return, they get bitcoin for it, and then they give that bitcoin to someone else who provides someone of value and so on and so forth.