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The number of bitcoin units is just a property of the number of decimal places that are used in each transaction. Bitcoin can actually be changed to support mor
by qopp 11y ago
The number of bitcoin units is just a property of the number of decimal places that are used in each transaction. Bitcoin can actually be changed to support more in the future if needed.
This has no economic effects since you're just adding more ways to subdivide a dollar.
If you're looking for weaknesses, there's a list here:
https://en.bitcoin.it/wiki/Weaknesses https://en.bitcoin.it/wiki/Weaknesses
Deflation is more of an economic problem then subdivision; since it's very unlikely that can be changed.
- simo7 11y agoCurrencies have two functions: mean of payment and storing value. A currency like bitcoin can only be the second one in an effective way, that's what I think he meant. And that's a big problem cause we really don't particularly need a better way to store value, but something that makes commerce more effective from a structural point of view not just a technological one.
- jsprogrammer 11y agoDeflation is fatal to traditional currencies as regular principal payments quickly destroy most of the money. Bitcoin does not operate on a debt model and is not susceptible to the kind of deflation that the most widely used currencies are.