BrettPhillips on Nostr: Firstly, I’m not an expert by any stretch. I’m just speculating… I ask myself, ...
Firstly, I’m not an expert by any stretch. I’m just speculating…
I ask myself, can the entire population use Bitcoin? Given 21 quadrillion satoshi and 8 billion people, that is about 2.6 million satoshi per person on Earth. However we know that there are only around 1.5 quadrillion satoshi to be mined and if we are ridiculously generous and say 1 billion people already use bitcoin, that leaves around 250k satoshi per person. And that is assuming no more accumulation by people who already have bitcoin. Basically I think that there is no possible way everyone can use bitcoin without major changes to the protocol including both blocksize and total units, the latter being a complete non-starter. And if bitcoin is going to change and not be for everyone, then I don’t think it’s worth making that change at all.
I ask myself, can the entire population use Bitcoin? Given 21 quadrillion satoshi and 8 billion people, that is about 2.6 million satoshi per person on Earth. However we know that there are only around 1.5 quadrillion satoshi to be mined and if we are ridiculously generous and say 1 billion people already use bitcoin, that leaves around 250k satoshi per person. And that is assuming no more accumulation by people who already have bitcoin. Basically I think that there is no possible way everyone can use bitcoin without major changes to the protocol including both blocksize and total units, the latter being a complete non-starter. And if bitcoin is going to change and not be for everyone, then I don’t think it’s worth making that change at all.