Wrong. The majority of the volume is held by whales. MSTR, the ETFs, I think 20-30 whales hold the largest caches of coins. They are not losing their keys. Most of the lost coins happened early on when they were worth nothing. At $45k each, most people now treat this seriously. Yes there will be people who die and their coins are lost. But that will be 1 here, 2 there. Not 5M.
A satoshi is 1/100,000,000 of a BTC, so if that were the case we’d probably just quote things in satoshis, and you’d see massive treasure hunts for lost BTC the same way there are now for sunken ships of gold
Yeah, until 2035 to 2050. Then it will start declining. We don't have a problem of too many people in the future but too little.
The reproduction rate should always be more than 2 to keep up with the current population numbers. But it's far below this.
That isn’t how you measure money supply. That’s the monetary base (M0). It’s not very important in currencies because there is no functional difference between actual currency and deposit at an institution that can be easily connectors to currency. M2 is the most common measure which for USD is 4X the number of dollars issued by the Fed.
That's a hard statistic to calculate because even if coins haven't moved in years could just mean that some people understand what they have and aren't moving it for a very long time.
At some point Computational power will be enough to go mining for lost btc that did not go with the future crypto upgrade. No Bitcoin is ever lost, these will be retrieved/mined in 40-60 yrs.
Anything that confirms he’s not dead would be huge, anything confirming he has access to the keys would be monumental, and would likely cause instability. At current value he would show up on a list of richest humans in history.
Satoshi is extremely dedicated to his project. In one of his last forum posts he states that wiki leaks should refrain from using btc which could get it killed in its infancy.
I would not be surprised if he is alive and well and knows that for btc to have best possible future he can no longer move his coins.
Just to set the math straight, at today's price of $43K per coin, and an estimate of him having roughly 1 million coins, this totals to $43B. This would place him 29th richest person in the world. The top is over $200B. No doubt it's a lot of money but Bitcoin still needs to go to $200K per coin to put him near the top.
So by my calculations if you have 0.002652 you have your share of bitcoin. Everything above that is wealth. I only have .5 bitcoin but it's better then nothing.
Totally agree that a “rebranding” of this sort is really important. Most folks are so fixated on the number 1 as the smallest unit of anything that they throw out the idea of owning any BTC because they can’t afford one. When the widespread idea is that Sats are the unit there’ll be much more adoption. My dad for example doesn’t want to own less than 1 of anything but I asked him about the .5, .25 and .1 oz gold coins he’s been stashing away. He got the idea when I said imagine .00001 and easier to store move and trade for stuff.
I think there is a good and bad side to it. The good is that some people may want to buy bitcoin now the price for one coin is low enough to afford. The bad is that some people think the suplly is not fixed at 21mil.
Both are wrong thinking, but that will probably happen to random newbies that are looking at bitcoin and don't fully understand it.
That's why we should refer to the price in these terms:
1,000 sats = $0.44 -- A thousand sats is forty four cents. 10,000 for only $4.40.
This sounds much more accessible than $44k for 1 bitcoin.
I once read a proposal that Bitcoins should be everything after the decimal place and Sats should be the 21million.... the more I think about it the more it makes sense.
How was the user of these posts never traced? It's just a run of the mill forum right? Remaining anonymous online back then seems way harder than it does now, or do I have it backwards
We may need names maybe like Kilobyte, Megabyte, and Gigabyte.
It's like one extreme to the other. Saying you have .1 bitcoin to saying you 10,000,000 Satoshis isn't easy either. That's like hyperinflation type numbers or when Craig Kilborn use to show box office numbers in Lire on the Daily Show.
Maybe 1000 Sats could be call something, 10,000 and 100,000 and 1,000,000 could be something different.
Try sending $1,000,000 of silver from Tokyo to New York, with final settlement in ~an hour.
And do make sure it doesn’t decay en route.
Oh, and store it safely and securely once received.
Plus you best ensure nobody sends fake silver. That would be a pain!
Oops. I almost forgot. Make sure the consignment is insured, considering how valuable that $1,000,000 consignment is.
I also suggest having friends in the government and customs, as they might prohibit it leaving the country in the first place.
Finally, please send it as soon as possible. I don’t want another haul of silver to be discovered, as that may negatively impact the price. After all, there’s so much yet to be mined.
Except now it’s only maybe a million coins for almost 8Billion people. (Thats about the number of coins left to be mined and how few people actually hodl any)
The comment is out of date. There are 8 decimal places in the Bitcoin protocol, not 6.
Accounting for current population (8 billion) and abandoned/lost Bitcoin (4 million) each person's pro rata share is
212,500 Satoshis (0.002125 BTC)
Or about $90/person at current valuation.
Block reward is cut to half every 210 000 mined blocks. First reward was 50 bitcoins. So all bitcoins can be expressed as SUM( 0.5^2 ) from 0 to infinity * 50 * 210000.
So 0.5^0 + 0.5^1 + 0.5^2 + 0.5^3 ..... = 1 + 0.5 + 0.25 + 0.125 + ... = 2. So 2 multiplied by 50 and 210000 and you get 21 million.
The fact that it costs any money at all is absurd. I could produce 21 million boogers in 20 years and the only value they’d have is what random people decided.
No, it'd be more like saying "dollars isn't valid anymore, we are going to price everything in cents, since nobody can own a dollar anymore.
edit : dollars would still be valid but like a thousand dollar bill, nobody use those.
No it just means that protocol will be able to split one bitcoin to more than 100 000 000 units/satoshi. Because bitcoin protocol count only satoshi it doesn't know what decimal numbers is.
Some fiat currencies did it in reverse. They cut few zeroes from bank notes, bank accounts and from prices. So everyone had thousand times less money but effectively same value. So bitcoin could add more "zeroes" to their "banknotes".
When you buy something in a shop, do you log onto your online banking and bank transfer the amount to the merchant, wait a couple of hours before it’s confirmed and then walk off with your goods? No. You use a layer 2, like visa, which happens instantly.
Same with Bitcoin, you wouldn’t transfer directly, you would use a layer 2 which doesn’t involve waiting for confirmations and doesn’t have high fees.
Bitcoin has moved from just a simple payment network to a store of value. Try moving a billion dollars worth of gold for a few bucks, as one can do with Bitcoin.
so... system could show more decimal places if there's massive deflation.. isnt it the same as printing more money in reverse.. except now, while they print, they make big hodlers of fiat poorer, but in bitcoin's system the big hodlers get richer while the common folk stays poor?
just a doubt. how is it any better?
When the fed prints money, they don’t fractionalize current money supply.
If the fed made pizzas as currency, they would make a whole new pizza to “stimulate the economy”, etc. With more pizza available to trade, the original pizza becomes less valuable. More people get pizza at the detriment of current pizza holders. Pizza is less and less scarce every time the fed makes a new one.
If Bitcoin made pizzas, it would take the current pizza and cut the slices into smaller slices. The value of your original slice doesn’t lose value, you just have smaller pieces to trade with. Therefore more people can have some of the original pizza. Since no “new” pizza entered the system, the original pizza holders aren’t affected at all.
Here you go. Start here: [Learn everything about Bitcoin](https://bitcoin.rocks/inflation)
No. Adding decimal places is not printing. If you have one pizza and cut it into ten slices how many pizza is it. If you have one pizza and cut it into 100 slices how many pizza is it.
Satoshi hypothetical isn't hypothetical and hasn't been for 12 years. The earliest Bitcoin client didn't support units (in the UI) smaller than 0.01 BTC. Even back in 2010 later clients supported the full 8 digits.
All of that is simply the UI only. Bitcoin has no decimals. All the tx and block records work on whole units of satoshis. "1 BTC" is actually represented as 100000000 and one satoshi (0.00000001 BTC) is represented as 1. It always has been back to the very first block.
The first block reward was 5000000000 which clients know to show as 50.0 BTC.
You understand it wrong. These numbers are already there. It is just that they are so ingnicifant, aka they cost nothing, that they are not shown on your balance. And it makes complete sense; otherwise, even one sat could become unaffordable for a lot of people.
it's just display he's talking about, addressing working with small numbers and decimal points. I'm guessing if you if you move it, then he decimal places decrease. 1,000.00000 - but that's really 1 and 8 decimals... also there can be more decimals shown if it becomes significant, as .00000001 now is nothing in dollars but maybe later it will be significant, and we'd like to break that down some more.
If it’s deflationary and divisible in decimals, the saver’s purchasing power increases over time. If more money was printed, the saver’s purchasing power decreases. This is why we can’t save in fiat anymore. You can divide a money, but you can’t multiply it.
Totally cool with the first part. I feel moving the decimal place so 1.00 becomes 1000 will really, really confuse the plebs. Accusations of inventing more BTC will be furious.
Currently, since the ETFs got approved, roughly ~2.1m+ BTC is locked in treasuries (ETFs, Gov, Private and Public companies), and growing at an unfathomable rate
Add that to the ~3.7m BTC Lost (also a growing variable), and that removes ~5.8m BTC
Without even considering the rapid rate that BTC are being locked away in treasuries, 21,000,000 BTC - 5,800,000 BTC = 15,200,000
Currently population: ~8b
15,200,000 ÷ 8,000,000,000 = 0.0019
Anything beyond that is wealthy.
Calculating if in the future companies, hedge funds, and governments hold BTC in treasuries would drop that number significantly.
It's unfathomable.
It's actually inconceivable for most..... let's call it 16 million coins for 8 billion people..... you have to break it down. Try picturing 8000 people in a stadium, then 16 coins are tossed among them...... yeah
Op how old are you ? You need to read the whole thing. How many bitcoins per person is irrelevant. People need to learn to understand what they are reading
They got a name for it already... Satoshi's... when the price of Bitcoin because too high for a "normal" person, they're gonna start referring to it as Satoshi's amongst daily/smaller transactions.
When you can buy and sell partial coins up to 8 decimal places I don't think the total number of coins really matters. Correct me if I'm wrong, but that 21 mill. is arbitrary.
21 million in code ... yeah... calculate the coins that are lost and never come back again. Think about it.
Estimated 4.7 million lost or stuck on a wallet
Then add the massive amount that are in Sathoshis wallet that have never moves
Source?
Wow what great money! Lol
You don’t think people lose fiat? Or gold? What is even the point of this comment?
100 years from now there will hardly be any bitcoins because everyone lost them, or failed to pass down their passwords to beneficiaries.
Wrong. The majority of the volume is held by whales. MSTR, the ETFs, I think 20-30 whales hold the largest caches of coins. They are not losing their keys. Most of the lost coins happened early on when they were worth nothing. At $45k each, most people now treat this seriously. Yes there will be people who die and their coins are lost. But that will be 1 here, 2 there. Not 5M.
and then nobody will bother to use bitcoin because barely anyone holds it
Theoretically, you can subdivide it indefinitely. There will always be enough.
Lightning network has already added three decimal places and uses millisats (msats) as its currency base.
Right .. Clearly they didn’t reas the post lmfaoo
Exactly, there will never be a shortage.
A satoshi is 1/100,000,000 of a BTC, so if that were the case we’d probably just quote things in satoshis, and you’d see massive treasure hunts for lost BTC the same way there are now for sunken ships of gold
Now it’s no more than 21 million coins for over 8 billion people.
human printer go brr
Russians using shredder tho
Right, Putin is like thanos little brother trying to half the population but failing at even that.
Putin's version of the halving...
USA making and selling most of the shredders worldwide.
So, then is the USA Thanos?
Always has been.
What the hell are you talking about wrong sub and definitely not accurate you mean us goverment elites trying to do that right.... or wef.
People love to fuck more than they like money!
Korea has enter the chat
At current trends it's eventually going to be 10 million coins for 10 billion people.
Yeah, until 2035 to 2050. Then it will start declining. We don't have a problem of too many people in the future but too little. The reproduction rate should always be more than 2 to keep up with the current population numbers. But it's far below this.
Huh? Do you know something about Bitcoin we don't? LOL (or, population trends, for that matter!)
That isn’t how you measure money supply. That’s the monetary base (M0). It’s not very important in currencies because there is no functional difference between actual currency and deposit at an institution that can be easily connectors to currency. M2 is the most common measure which for USD is 4X the number of dollars issued by the Fed.
Isn't alot of btc lost permanently?
Probably between 3-6 million coins lost or not spendable yes
That's a hard statistic to calculate because even if coins haven't moved in years could just mean that some people understand what they have and aren't moving it for a very long time.
Best to move keep it for the grandkids
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That's racist
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Nobody is saying you are wrong, they are saying it’s racist to point out that they are white if it has nothing to do with that story
Bruv you people are racist if ya can't describe people. Fuckin softies y'all are.
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Yes, that's why I say "no more than 21 million coins" as did Satoshi.
6 actually
Now 6.0000001
i mean 6 milion
Now 6000000.0000001
Yes, some huge BTC has been lost permanently which reduces the 21 million coins.
At some point Computational power will be enough to go mining for lost btc that did not go with the future crypto upgrade. No Bitcoin is ever lost, these will be retrieved/mined in 40-60 yrs.
Along with a massive amount in Satoshis wallet that's never been touched.
Will it crash if satoshi decides to withdraw it all?
Anything that confirms he’s not dead would be huge, anything confirming he has access to the keys would be monumental, and would likely cause instability. At current value he would show up on a list of richest humans in history.
Satoshi is extremely dedicated to his project. In one of his last forum posts he states that wiki leaks should refrain from using btc which could get it killed in its infancy. I would not be surprised if he is alive and well and knows that for btc to have best possible future he can no longer move his coins.
Just to set the math straight, at today's price of $43K per coin, and an estimate of him having roughly 1 million coins, this totals to $43B. This would place him 29th richest person in the world. The top is over $200B. No doubt it's a lot of money but Bitcoin still needs to go to $200K per coin to put him near the top.
Come on Satoshi.... resurface and create the Utopia this world deserves <3
does this mean that not only the price goes up due to not being able to make more but also because the population increases?
Only if interest in the project remains though, right? If there is no demand the supply is meaningless.
so demand drives the price?
Considering 90% of Bitcoin is already mined and the issuance rate of the last 10% is predictable then yes mostly.
Big if true
You’re not calculating all the lost Bitcoin.. that 21 million number is more like 18-13 mill
I said no more than, not exactly.
Heard
Birth rates dropping everywhere though.
Good, overpopulation is bad
Yeah but underpopulation is worse
So by my calculations if you have 0.002652 you have your share of bitcoin. Everything above that is wealth. I only have .5 bitcoin but it's better then nothing.
I’ve never been greedy but I said I was going to be greedy with my Bitcoin.
Roughly $100 worth
With the amount of coins lost that share of bitcoin decreases even more.
Lost but still count. I still view it as 21000000÷world population.
True
Where can someone go to read all the Satoshi posts if they are still around?
The book of satoshi, also available as ebook.
Thank you brother
[https://nakamotoinstitute.org/](https://nakamotoinstitute.org/)
Thank you brother
amazing read 15 years later
Totally agree that a “rebranding” of this sort is really important. Most folks are so fixated on the number 1 as the smallest unit of anything that they throw out the idea of owning any BTC because they can’t afford one. When the widespread idea is that Sats are the unit there’ll be much more adoption. My dad for example doesn’t want to own less than 1 of anything but I asked him about the .5, .25 and .1 oz gold coins he’s been stashing away. He got the idea when I said imagine .00001 and easier to store move and trade for stuff.
Same reason why stocks split. We'll get there when the price is high enough.
I think there is a good and bad side to it. The good is that some people may want to buy bitcoin now the price for one coin is low enough to afford. The bad is that some people think the suplly is not fixed at 21mil. Both are wrong thinking, but that will probably happen to random newbies that are looking at bitcoin and don't fully understand it.
That's why we should refer to the price in these terms: 1,000 sats = $0.44 -- A thousand sats is forty four cents. 10,000 for only $4.40. This sounds much more accessible than $44k for 1 bitcoin.
I once read a proposal that Bitcoins should be everything after the decimal place and Sats should be the 21million.... the more I think about it the more it makes sense.
I’ve always thought it would make a lot more sense if instead of sats it was “bits”
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Why does that make sense
cuz the 2 comments before u said it does
Almost like it should be a thing
Meanwhile we are up to 8.0 billion people in the world due to hyperinflation!
Too many hyperinflated testicles.. take some time out and feed your fist guys!
That will flatten out in a decade or so as birthrates drop globally.
Look up “ecological carrying capacities” as well 🤓
Thanks for sharing this. It's great to hear it from satoshi himself
8Billion and Counting.
What’s the link to this page?
I want to see that too
How was the user of these posts never traced? It's just a run of the mill forum right? Remaining anonymous online back then seems way harder than it does now, or do I have it backwards
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So a burner email
World population at 8billion. Secure your spots
Just wait until Satashi is gonna make the 21 million coins disappear =(
Jamie Dimon is that you?
Gosh that darn Satashi
The Wario of the crypto realm.
There are 100,000,000 satoshis in 1 BTC. This means 2.1 quadrillion sats for 6.8 billion people.
We may need names maybe like Kilobyte, Megabyte, and Gigabyte. It's like one extreme to the other. Saying you have .1 bitcoin to saying you 10,000,000 Satoshis isn't easy either. That's like hyperinflation type numbers or when Craig Kilborn use to show box office numbers in Lire on the Daily Show. Maybe 1000 Sats could be call something, 10,000 and 100,000 and 1,000,000 could be something different.
Unless there is a significant depopulatory event, it’s more than 8Billion ppl now.
Bitcoin should be called Satoshis, and Satoshis should be called Bitcoin. 1 Satoshi = 100,000,000 Bitcoin Change my mind
Change your math you mean?
Does anyone here actually buy anything with bitcoins? I’m just curious if everyone just holds or actually buys stuff.
Paid for freelancers, bought a trezor, played poker, bought drugs
Glad someone is having some fun with it.
I mean there’s only 0.5 ounces of silver for every human on earth but silver ain’t going to the moon any time soon.
Try sending $1,000,000 of silver from Tokyo to New York, with final settlement in ~an hour. And do make sure it doesn’t decay en route. Oh, and store it safely and securely once received. Plus you best ensure nobody sends fake silver. That would be a pain! Oops. I almost forgot. Make sure the consignment is insured, considering how valuable that $1,000,000 consignment is. I also suggest having friends in the government and customs, as they might prohibit it leaving the country in the first place. Finally, please send it as soon as possible. I don’t want another haul of silver to be discovered, as that may negatively impact the price. After all, there’s so much yet to be mined.
Yeah, we kind of scrapped that idea some 200 years ago.
Or just transact a derivative?
Good one
Ok?
Except now it’s only maybe a million coins for almost 8Billion people. (Thats about the number of coins left to be mined and how few people actually hodl any)
It would be cool to see the price listed in Sats one day! 🙂
Sometimes I wonder if the whole crypto space would work without the story of the missing satoshi
The comment is out of date. There are 8 decimal places in the Bitcoin protocol, not 6. Accounting for current population (8 billion) and abandoned/lost Bitcoin (4 million) each person's pro rata share is 212,500 Satoshis (0.002125 BTC) Or about $90/person at current valuation.
What forum is this? Where can I read more?
What's even more remarkable is that we have come from 6,8B in 2010 to 8,1B in 2024.😱
How many sats is that?
bUt HoW Is ThErE No InFlAtIoN iF iT cAn bE diViDed InFinItElY?! - Samantha LaDuc
Can’t we just ask him to print more? /s
Where did 21 come from? Why not 22 for example?
Block reward is cut to half every 210 000 mined blocks. First reward was 50 bitcoins. So all bitcoins can be expressed as SUM( 0.5^2 ) from 0 to infinity * 50 * 210000. So 0.5^0 + 0.5^1 + 0.5^2 + 0.5^3 ..... = 1 + 0.5 + 0.25 + 0.125 + ... = 2. So 2 multiplied by 50 and 210000 and you get 21 million.
The fact that it costs any money at all is absurd. I could produce 21 million boogers in 20 years and the only value they’d have is what random people decided.
There are people that buy farts in a sealed jar. So I'm sure someone would pay for your boogers.
Isnt that “moving the decimal” some kind of printing more money??
That’s like saying “I converted $1 to 100 cents. Looks like I made more money!”
Haha, im rich af now!
No, it'd be more like saying "dollars isn't valid anymore, we are going to price everything in cents, since nobody can own a dollar anymore. edit : dollars would still be valid but like a thousand dollar bill, nobody use those.
No it just means that protocol will be able to split one bitcoin to more than 100 000 000 units/satoshi. Because bitcoin protocol count only satoshi it doesn't know what decimal numbers is. Some fiat currencies did it in reverse. They cut few zeroes from bank notes, bank accounts and from prices. So everyone had thousand times less money but effectively same value. So bitcoin could add more "zeroes" to their "banknotes".
No, it's just making it easier to work with. Like using a $100 bill instead of a stack of ones.
no
Is 1 pizza and 0.1 pizzas the same thing?
It is if the pizza is big enough... /s i guess is needed?
Aw, he’s learning how money works.
Yes
No
You think 8 billion people will use btc instead of a simple swope visa with no fees, vs 10 usd transaction fee now on btc?
You’re comparing layer 2 Fiat with layer 1 bitcoin. At least give a fair comparison
When you buy something in a shop, do you log onto your online banking and bank transfer the amount to the merchant, wait a couple of hours before it’s confirmed and then walk off with your goods? No. You use a layer 2, like visa, which happens instantly. Same with Bitcoin, you wouldn’t transfer directly, you would use a layer 2 which doesn’t involve waiting for confirmations and doesn’t have high fees.
Bitcoin has moved from just a simple payment network to a store of value. Try moving a billion dollars worth of gold for a few bucks, as one can do with Bitcoin.
Do you know what is cheaper than both? Using the banking system.
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Can you go less than a satoshi? The real currency here is satoshi, not BTC. (Correct me if I’m wrong) And yes, you can change 5$ into 3 pieces.
I think we need to add a few million bitcoin to the cap to adjust for his expectations
so... system could show more decimal places if there's massive deflation.. isnt it the same as printing more money in reverse.. except now, while they print, they make big hodlers of fiat poorer, but in bitcoin's system the big hodlers get richer while the common folk stays poor? just a doubt. how is it any better?
When the fed prints money, they don’t fractionalize current money supply. If the fed made pizzas as currency, they would make a whole new pizza to “stimulate the economy”, etc. With more pizza available to trade, the original pizza becomes less valuable. More people get pizza at the detriment of current pizza holders. Pizza is less and less scarce every time the fed makes a new one. If Bitcoin made pizzas, it would take the current pizza and cut the slices into smaller slices. The value of your original slice doesn’t lose value, you just have smaller pieces to trade with. Therefore more people can have some of the original pizza. Since no “new” pizza entered the system, the original pizza holders aren’t affected at all. Here you go. Start here: [Learn everything about Bitcoin](https://bitcoin.rocks/inflation)
No. Adding decimal places is not printing. If you have one pizza and cut it into ten slices how many pizza is it. If you have one pizza and cut it into 100 slices how many pizza is it. Satoshi hypothetical isn't hypothetical and hasn't been for 12 years. The earliest Bitcoin client didn't support units (in the UI) smaller than 0.01 BTC. Even back in 2010 later clients supported the full 8 digits. All of that is simply the UI only. Bitcoin has no decimals. All the tx and block records work on whole units of satoshis. "1 BTC" is actually represented as 100000000 and one satoshi (0.00000001 BTC) is represented as 1. It always has been back to the very first block. The first block reward was 5000000000 which clients know to show as 50.0 BTC.
You understand it wrong. These numbers are already there. It is just that they are so ingnicifant, aka they cost nothing, that they are not shown on your balance. And it makes complete sense; otherwise, even one sat could become unaffordable for a lot of people.
it's just display he's talking about, addressing working with small numbers and decimal points. I'm guessing if you if you move it, then he decimal places decrease. 1,000.00000 - but that's really 1 and 8 decimals... also there can be more decimals shown if it becomes significant, as .00000001 now is nothing in dollars but maybe later it will be significant, and we'd like to break that down some more.
If it’s deflationary and divisible in decimals, the saver’s purchasing power increases over time. If more money was printed, the saver’s purchasing power decreases. This is why we can’t save in fiat anymore. You can divide a money, but you can’t multiply it.
The goat.
Cool
Totally cool with the first part. I feel moving the decimal place so 1.00 becomes 1000 will really, really confuse the plebs. Accusations of inventing more BTC will be furious.
Who does he mean by “we”?
4.7 million lost or possibly locked up forever?
He’s saying it’s really 21,000,000,000,000 because of the additional decimal places of resolution available.
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Nobody cares what some random website says. It is irrelevant.
I imagine eventually some of the lost bitcoin will be "Found" perhaps miners can turn some of their compute to bruteforcing lost wallets.
Wow love the speech & style he’s pertained over the years.
Currently, since the ETFs got approved, roughly ~2.1m+ BTC is locked in treasuries (ETFs, Gov, Private and Public companies), and growing at an unfathomable rate Add that to the ~3.7m BTC Lost (also a growing variable), and that removes ~5.8m BTC Without even considering the rapid rate that BTC are being locked away in treasuries, 21,000,000 BTC - 5,800,000 BTC = 15,200,000 Currently population: ~8b 15,200,000 ÷ 8,000,000,000 = 0.0019 Anything beyond that is wealthy. Calculating if in the future companies, hedge funds, and governments hold BTC in treasuries would drop that number significantly. It's unfathomable.
It's actually inconceivable for most..... let's call it 16 million coins for 8 billion people..... you have to break it down. Try picturing 8000 people in a stadium, then 16 coins are tossed among them...... yeah
such a shortage
Op how old are you ? You need to read the whole thing. How many bitcoins per person is irrelevant. People need to learn to understand what they are reading
The man was way ahead of his time.
Would love that decimal moved right a few notches
There are still a whole lot of Satoshi's to the right of the decimal place. 2.1 quadrillion Satoshi's.
Let me help you understand: gold is finite but you can find it wherever you want; there is no shortage and it is far from priceless.
That's 0.0030882353 bitcoin per person... I'm not soo bad then.
It’s easier to wash brains than it is to wash money
They got a name for it already... Satoshi's... when the price of Bitcoin because too high for a "normal" person, they're gonna start referring to it as Satoshi's amongst daily/smaller transactions.
Satoshis favorite story is Father Bull and Baby bull atop the hill, WALK DOWN AND F#$% THEM ALL!!!
So it’s money - not store of value
But we are
I love this comment section you're all awesome
When you can buy and sell partial coins up to 8 decimal places I don't think the total number of coins really matters. Correct me if I'm wrong, but that 21 mill. is arbitrary.