One strong Challenge that will affect Bitcoin global acceptance as a means of payment .

[Josemendez]

Earlier this year , we saw a new type of cryptocurrency that have their supply in Quadrillion and Zillions . There was a claim that they were built to accommodate global acceptance of cryptocurrency.

Bitcoin has a maximum supply of 21 Million. If the world should decide to accept it , will it be enough to circulate in the world ? , I don't think so .

The limited supply of bitcoin gave it the value it has and the attraction it is getting from investors ,but this is also a challenge as it might not be enough for the world to use. It is true that the price is quite high and will limit the number of person going for the coin , there is also people that might buy in Satoshi and if the number of people buying in Satoshi increases , there will more demand and those having big amount won't be able to sell . The small investors cannot even afford it by then.

I believe that bitcoin may be accepted in the world in future but it's usage will not be universal because if it's limited supply which can make it difficult for people to get .

 

[Sherman198]

Seriously I don't see how the amount of Bitcoin we have in circulation or the total amount of Bitcoin (21 million) can't be enough for everyone in the world. If the value of Bitcoin skyrocket to the moon. E.g If we are having the value of 1$ at 0.002 Satoshi or 0.01 Satoshi, don't you think we will have more than enough Bitcoin on our hands?? Everything about Bitcoin depends on the value not the quantity.

 

[Mika]

One bitcoin 100,000,000 has satoshis. When all bitcoins are mined, the value of bitcoin will increase. When the value of bitcoin increases, the value of satoshis will also increase and we can easily transact using satoshi instead of referring to the fractions of bitcoins (0.0003 BTC, for example). I do not think the problem is with the value, the problem will be more related to transaction speed.

 

[sincerem]

One bitcoin 100,000,000 has satoshis. When all bitcoins are mined, the value of bitcoin will increase. When the value of bitcoin increases, the value of satoshis will also increase and we can easily transact using satoshi instead of referring to the fractions of bitcoins (0.0003 BTC, for example). I do not think the problem is with the value, the problem will be more related to transaction speed.

I believe with time BTC owners will work tremendously to provide stability for their coin to run faster during transactions in order not to allow its members or users to grow frustrated waiting for the transaction to confirm. If they'll improve such that means the world will have the better version of BTC and it will be used often and can be accepted as legal render with such quality improvement.

 

[Alexandoy]

The limited supply of Bitcoin is the primary factor why Bitcoin price has reached that high of $60k and today it is still in the vicinity of $31k. If the Bitcoin is unlimited then the market will be deluged that will certainly pull down the price. As always the law of supply and demand will rule the market.