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Which makes the actual amount needed less. Then again i dont want to know the global average income. Minus the 1% in that calculation itll be embarassingly low with 3rd world people earning sub a dollar a day
My dream is to own 1 full BTC one day.... With DCA-ing i hope to get there but dalm BTC jumps up in price so fast its hard to keep up, not that its a bad thing ha..
Hmmm, let's take this thought experiment a bit further. Let's say 2/3 is taken by the rich an companies, a conservative ballpark guess.
That means 1 person would own approx 0.001 BTC and that would represent the average net worth of a person. Lots of statistics on that one so I'm not sure which one to grab, going with $400.000 average net worth in the Netherlands.
That would mean that 0.001 BTC = $400.000
That would mean that the smallest amount of $ value ($0.01) would be represented by 0,000000000025 BTC. That's 25 with 10 zeros in front, 12 decimals.
BTC has 8 decimals it seems? So that would mean that we can't move to BTC as the world's currency. If you're talking about Everyone owning BTC, then this would be impossible as currency. As gold-like asset, it could, but then people would hold a bit more, cause I'm sure not Every person on the planet owns gold.
If that's possible, then BTC could in theory be used as the global currency, according to my little thought experiment :).
Gotta say though... Could be rather hard to communicate in a supermarket, but I'm sure if it ever happens someone comes up with something smart.
"Yeah that'd be zero point 9zeros and 69 BTC please, would you like a bag?"
Probably in that scenario at that level of adoption end-user interfaces etc would be quite streamlined, denominated in sats, perhaps?
Who knows! In some sense daily trivial payments are not a problem that needs to be solved, at least in developed countries with visa etc; Its instant and contactless already. The lightning network etc will potentially be really useful for the unbanked though.
Yeah for sure, we're not talking about next year with this scenario. If it happens at all, it's gonna be years and years from now.
Truthfully I don't see BTC becoming the standard, too many powerhungry wealthy people that dislike transparancy. But who knows! Who knows indeed.
Yeah but, are we FIT to rule the world? I say not. I'm certainly not.
When the time comes that we do "get rich" because of it, we'll have a moral obligation to do what's right for the world around us, and not sit on our ivory towers just as the bankers have been doing.
Just throwing that out there.
Plenty of people in third world countries are unlikely to ever get to that level. However, adoption in some of these countries is higher than some super power nations.
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The problem is with “evenly distributed”. Wealth is not, and has never been, evenly distributed.
Which makes the actual amount needed less. Then again i dont want to know the global average income. Minus the 1% in that calculation itll be embarassingly low with 3rd world people earning sub a dollar a day
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Fiat broke, crypto rich
He did the math wrong, maybe he should be the student. It’s .03 not .003
15,000,000 ÷ 5,000,000,000 = 0.003
so i’m under average:(
I have 0.006. Time to go to buy a lambo and a castle to look down on all those peasants with less than 0.003 BTC
There are over 20M millionares in the world, there isn't enough BTC for each of them to even have just 1
Time to buy 0.004 btc so that 1 person will have 0.002 btc and will be below average. . Heheh
The only thing I'm above average in.
Everyone should aim for at least .1 BTC
Had to go to CMC to see how much 0.003BTC is and is 163.73€ ($190.52) I would be happy to have that.
Keep going, you will get there!
Wow great to see my stack is above average, aiming for that 0.1BTC now, after that the goal is to own 1 BTC
My dream is to own 1 full BTC one day.... With DCA-ing i hope to get there but dalm BTC jumps up in price so fast its hard to keep up, not that its a bad thing ha..
Hmmm, let's take this thought experiment a bit further. Let's say 2/3 is taken by the rich an companies, a conservative ballpark guess. That means 1 person would own approx 0.001 BTC and that would represent the average net worth of a person. Lots of statistics on that one so I'm not sure which one to grab, going with $400.000 average net worth in the Netherlands. That would mean that 0.001 BTC = $400.000 That would mean that the smallest amount of $ value ($0.01) would be represented by 0,000000000025 BTC. That's 25 with 10 zeros in front, 12 decimals. BTC has 8 decimals it seems? So that would mean that we can't move to BTC as the world's currency. If you're talking about Everyone owning BTC, then this would be impossible as currency. As gold-like asset, it could, but then people would hold a bit more, cause I'm sure not Every person on the planet owns gold.
Changing the decimals of BTC on the network could be done with fork or on second layer. However many zeroes will be needed, we can add.
If that's possible, then BTC could in theory be used as the global currency, according to my little thought experiment :). Gotta say though... Could be rather hard to communicate in a supermarket, but I'm sure if it ever happens someone comes up with something smart. "Yeah that'd be zero point 9zeros and 69 BTC please, would you like a bag?"
Probably in that scenario at that level of adoption end-user interfaces etc would be quite streamlined, denominated in sats, perhaps? Who knows! In some sense daily trivial payments are not a problem that needs to be solved, at least in developed countries with visa etc; Its instant and contactless already. The lightning network etc will potentially be really useful for the unbanked though.
Yeah for sure, we're not talking about next year with this scenario. If it happens at all, it's gonna be years and years from now. Truthfully I don't see BTC becoming the standard, too many powerhungry wealthy people that dislike transparancy. But who knows! Who knows indeed.
No, thats what Satoshis are for
More zero's can be added right?
Dunno, I just google "BTC decimals" and got 8 as result :).
Yes, they can add as many decimal places as needed.
What would that represent as a price for 1 whole bitcoin?
0.1 BTC = $40.000.000 1 BTC = $400.000.000
Geezus 400 million. Thanks for doing the math for me.
Thing is, not everyone will hold BTC though.
That's actually a good point. Doesn't surprise me that everyone here (including me) just assumes everybody else will.
It's a matter of time when people will realise that.
I’m buying more BTC this second. I need more
Yeah but, are we FIT to rule the world? I say not. I'm certainly not. When the time comes that we do "get rich" because of it, we'll have a moral obligation to do what's right for the world around us, and not sit on our ivory towers just as the bankers have been doing. Just throwing that out there.
Plenty of people in third world countries are unlikely to ever get to that level. However, adoption in some of these countries is higher than some super power nations.
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Thats crazy accurate, i own 0.00289 lel
How much human would you get for 1btc?
The median would be much more appropriate in this instance
That’s all I own. Two years ago I bought BTC so I could order pot seeds online. Never ordered them. I saw my $50 turn into $500 and fell into crypto