[patrickk]

> So if bitcoin will one day become "THE" currency...

That's the big question isn't it? Will bitcoin take over, or will another digital cryptocurrency conjured out of the ether take over? (bitcoin 2.0)

> So there is 0.003 bitcoin per person.

There's some bitcoin amounts that are likely lost forever, perhaps miners that lost their private keys or whatever, or forgot about their bitcoin wallet from the early days, which will skew the calculations and make the effective total less than 21 million. Also, as others have noted, you are likely to see inequality with bitcoin wealth, just like regular assets and currencies.

[GhotiFish]

I don't see why those coins can't re-enter the system. Just tell everyone that coins stagnent for over 10 years will re-enter the system through miners, and have people consolidate and refresh their holdings. There's no reason that old coins can't be reintroduced.

[basch]

There is no reason to when the coins are infinity divisible.

[viraptor]

They are not. It's possible to divide, but there are limits.

Edit: not sure why this is downvoted. You can't divide one Satoshi, unless the protocol is updated.

[Atroxide]

You realize there is no down-voting right?

And your post isn't being voted for because it is irreverent.

Lets say that the value of a BC goes up to 1 Million USD somehow (which is REALLY unlikely), a Satoshi is still worth a penny. We understand that it can't divide infinity and yes you are right by saying it, but for this discussion, we are able to divide a bit-coin as much as needed, and besides- if it ever gets to the point (somehow) that we need to, a future protocol could fix it.

[viraptor]

There is downvoting for comments. You just cannot see it without high enough karma.

Regarding Satoshi being always worth something - yes, in theory that should be the case. Unless some huge changes take place. Major exchanges disappearing, issues with the protocol, introduction of blacklists, lots of other things we cannot predict at the moment. It doesn't even have to be a penny - if it was headed too quickly towards that line, I would expect everyone to panic because they could never recover the theoretical amount in local currency.

[GhotiFish]

well, he's wrong and he's not wrong. If bitcoin becomes a global exchange, then it will be worth a fair bit more than one million each.

but the protocol can be changed to have more significant digits, so things can be divided more.

[viraptor]

> but the protocol can be changed to have more significant digits

As I wrote: "... unless the protocol is updated.". There are still reserved bits available. But then everyone would have to update their software. And if we're talking about a global, usable currency, that means updating millions of hardware devices to support it.

[bonbon]

atleast majority of bitcoin millionaires will be more of a sharing culture type and they will play their part in helping the poor. There is higher chance of good with bitcoin wealth than banking wealth. Internet is inherently kind and wealth inequality will be resolved when it happens here. IMO