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How would billions of new users get bitcoin to start using it if the supply is limited? They would have to buy it from people who already have it, driving the p
by Eddy_Viscosity2 5y ago
How would billions of new users get bitcoin to start using it if the supply is limited? They would have to buy it from people who already have it, driving the price up and with it the the ceiling on electric costs for profitable mining -- these scale together.
- EVa5I7bHFq9mnYK 5y agoOf course price would increase if everyone uses it, but, technically, high price is not necessary for everyone to use Bitcoin. For rough estimate, there are 12 billion of $20 notes in use, which is $240B, which is 6M Bitcoins. $20 bill comprises the bulk of money circulation. There are more $100 bills, but they are mostly used for savings.