Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin make Banks disappear?
by
ffe
on 13/12/2016, 19:32:35 UTC
Bitcoin will never make banks disappear. That is impossible. There are only 21 million of bitcoins in the future. That is the maximum amount possible if i am correctly informeted. So if everyone in the world should be paying with bitcoins, we should all have very very very small amounts of bitcoin. That is impossible. I Believe in bitcoin as another value with which you will be able to pay all over the world, as you do with doller, yen, pound, euro or so. All the values will have there own life as now, and nothing is going to disappear.
While I agree that bitcoin is not going to make banks disappear I don't see how the 21 million limit of coins is any problem, does that means the users are going to have very small number of coins? Yes, but bitcoin can be fractioned very easily, after all, it was not long ago someone bought a pizza with tens of thousands of bitcoins.

21 million btc can be broken down into mbtc or satoshi. And if there is a need, it can even be further broken down to meet the rising demand.

Trouble is, as of now, too few people hold most Bitcoin. To have Bitcoin increase in value to the point where it can be broken down sufficiently to be used by most of humanity, we would be giving these few initial holders of Bitcoin most of the wealth of the planet.

Just won't happen.