Quote from: Uruhara on Today at 06:47:06 AM

Quote from: Ruttoshi on August 20, 2023, 12:58:58 PM

I know that the reason why we need to tell people about bitcoin is to spread the awareness of bitcoin,so that more people will adopt bitcoin so that it can be recognised and use by everyone just the way fiat is used. This will make bitcoin value to increase due to its volatile nature and the price is been controlled by demand and supply. Bitcoin is limited in number as we all know that we only have 21million bitcoin.

I have been wondering as a newbie with little knowledge on bitcoin that how is it possible for everyone in the world to own some fraction of bitcoin with the limited number just like the way everyone is using fiat. Is it that these 21million bitcoin will be enought to serve the world with a total population of 8.1 billion because I know that we have whales who will buy a huge amount of bitcoin and just store it in their wallet without using it,just the way the rich men and politicians keep so much funds in their account or at home without spending it. I also notice that one country can't print the currency that the whole world is using but various countries printed their own currency. Another thing that I noticed so many investors prefer to holdli their bitcoin which might make it not sufficient for everyone.

My question is that is it possible for everyone to have bitcoin with the number of limited supply of bitcoin ?

The more people who hold bitcoins in their wallets, the rarer the bitcoins circulating and being traded on the market. So the market demand will be higher when bitcoins are getting scarcer. Well this leads to a much higher price increase. And I think everyone will still be able to own bitcoins even if many whales hold them without selling them. Because in the end the whales will also sell the bitcoin they have when the price demand on the market is enough to make them satisfied to decide to sell. remember 1 bitcoin = 100 Million Satoshi. And imagine if one day 1 satoshi is very expensive. meaning it only takes 81 bitcoins to make everyone have at least 1 satoshi.if the population of people is correct 8.1 billion people.

Its not as simple as you think to say that the concept of scarcity or rarity determines the price of Bitcoin. Scarcity is a component, to be sure, but its just one part of a big picture that includes speculation, global finance, and human psychology. How are the whales doing? Get over your naivety. Whales arent just sitting around, waiting to be sold at some magical price. They move the market, they plan, they strategize, and they manipulate! Your charming assumption that they'll simply "decide to sell" is, well, charming.

You treat Satoshis and their potential value like they are elementary concepts. We may be dealing with a completely new paradigm of valuation by the time 1 Satoshi reaches such a value, rendering the entire idea of conventional money moot. Even nonetheless, I appreciate that you tried your math skills with the 81 Bitcoins for 8.1 billion people. Really, it's cute. However keep in mind that your estimates and assumptions only represent a small portion of this intricate financial ecosystem.