(And Why It’s Not That Simple)
Have you ever wondered how much Bitcoin you would get if every person in the world received an equal share of the total supply?
It’s an intriguing thought experiment that can help us better understand the value and accessibility of Bitcoin, but the reality is much more complicated than a simple division of coins.
This article will explore the numbers, practical difficulties, and implications of redistributing all Bitcoin globally.
Bitcoin By The Numbers
As of April 15, 2023, according to buybitcoinworldwide.com, the current total supply of Bitcoin is (still) approximately 21 million coins, and the world’s population is around 7.9 billion people.
If we divide the total supply by the population, each person would theoretically get 0.0026 BTC, or about $135 at the current Bitcoin price.
Of course, this calculation assumes equal accessibility and easy redistribution, which is not the case in reality.
Who Gonna Move All That (Digital) Gold?
Redistributing Bitcoin would be a monumental undertaking with numerous practical difficulties.
A relatively small group of people holds most of the Bitcoin in the world, and convincing them to give up their holdings would be a gigantic challenge. Additionally, there is the issue of lost or inaccessible Bitcoin, which could further complicate the redistribution process.
Finally, the security risks of moving such a large amount of money are significant. The potential for hacking and theft makes such a massive redistribution logistically tricky, if possible at all.
The Implications of Forced (Re)Distribution
If we were to redistribute all the Bitcoin in the world successfully, there would be significant implications.
The impact on the price of Bitcoin is difficult to predict, but such a massive redistribution would likely cause a significant drop in the value of each coin (at least in the short term). Additionally, taking away someone’s ownership of Bitcoin raises substantial ethical considerations that cannot be ignored.
Instead of focusing on redistributing Bitcoin, it’s essential for any serious Bitcoiner to consider alternative solutions to addressing economic inequality and making Bitcoin more accessible to everyone.
Stack Sats, Gift Sats, and Love Sats Instead
The idea of redistributing all the Bitcoin globally is an intriguing thought experiment; it’s not a practical solution.
The reality is much more complicated than a simple division of coins, with numerous practical difficulties and ethical considerations to consider.
Instead, we should focus on making Bitcoin more accessible and inclusive while addressing the broader issues of economic inequality and financial empowerment.
With that in mind, it’s important to continue exploring the value and potential of Bitcoin while also being mindful of the challenges that lie ahead.