When we talk of bitcoin supply, we look at it as 21 million bitcoin, and people wonder how that can serve the whole 7 billion population, but we forgot that there are smaller units of bitcoin, we have the mbtc, we have the ubtc and we have the satoshi, and i will like to talk on the satoshi which i believe needs to be expanded to really serve the current economy.
SATOSHI,
This is the smallest units of bitcoin, and 1 bitcoin is equals to 100,000,000 satoshis, which means that the total satoshi that we have is 2100 thrillion satoshis.
The total circulating money of the world according to According to the Bank for International Settlements is 80 trillion dollars, the lowest denomination of usd is cent and 100 cent equals 1 dollar, so we have 8000 trillion cent circulating as money in the world, if satoshi is to be pegged to 1 cent and to be used as global currency, you see why it is necessary to have it expanded, because circulating money of the world will be short of about 5900 trillion satoshis.
so you , actually , prove that 21 million bitcoin can serve the whole world?
what is the point of the question then , yes 21 million compared to trillions of dollars and other printed coloured paper we call money is a small number
the smallest denomination is satoshi that makes it 2,100 trillion units , enough to serve anything you would want to serve
well , minus the burned and destroyed coins and lost keys wallets, that some of the analysts amount to 25% of the coins already
the problem is not in the physical number of coins , but that bitcoin cannot serve as a payment gateaway at the moment
it has several bottlenecks that prevents it to serve as the money that we all know
the most important one is the transaction speed , it is crawling at several transactions per second compared to tens of thousands per second of that of VISA and Mastercard