Satoshis for Everyone: But How Many?
Just for fun, if everyone in the world wanted Bitcoin then how many Satoshi are there for every man, woman and child on Earth today?
First of all this is just for fun. I know that Bitcoin has scaling issues which would make its use as the cornerstone of economics currrently impossible. This is just for fun...
The Considerations:
Bitcoin: Fun Facts
There are going to be 21 million Bitcoin when its completely mined, but the circulating supply today was about 16.7 Million however there are currently something like 4,000,000 Bitcoins that are presumed lost and non-recoverable. Because of these considerations, my calculations may differ from what you have seen on the internet before.
Population:
According to Google, in 2016, the global population of all humans was 7.442 Billion.
Certainly that number has gone up but since I don't know by how much, I am just going to use that figure.
Bitcoin Circulating is NOT the Available Supply:
Yes the circulating supply of Bitcoin is currently 16,755,475. However, recent online posts have suggested that perhaps 4 million Bitcoin are lost and non-recoverable due to people forgetting the passwords or losing the keys.
UK Business Insider suggests that perhaps as many as 3.79 Million have been lost in this way. For more info on that follow the link:
Math:
So if we have 16,755,475 Bitcoin in circulation, with 3,789,648 lost forever, we have an available supply of 12,965,827, or 1,296,582,700,000,000 Satoshi.
1,296,582,700,000,000 divided amongst 7.442 Billion humans equals: 174,225 Satoshis/per person.
Conclusion:
So if you believe Bitcoin is going to be a world currency, or even if you feel that possibility has beyond a greater than zero percent likelihood, you should probably go ahead and spend $27.004875 USD on Bitcoin today because with that you will afford your fair share of Bitcoin Satoshi before it MOOOOOOOOONS!
Today, at approximately $15,500 USD per Bitcoin, if you spent $27.004875 USD you would acquire 174,225 Satoshi, but if you want to move your future retirement fund to a private wallet you will need to spend 1/4 of that on fees, so you'd better just buy an even $50.00 USD and absolutely forget about it for at least 20 years.
As always, this is not financial advice, this is intended for entertainment purposes. Please remember I am just a guy talking about my interests on the internet. And if you do appreciate the content I love seeing comments, up-votes and new followers.