4 ms·

BTC can be divided into satoshis, which are extremely small units. If someone loses 1 BTC, the value of all the rest simply goes up.

• billmalarky 9y ago
  For those wondering, a satoshi is 1/100,000,000 of a bitcoin. At the current bitcoin price of $14591, a satoshi is worth $0.0001459190. The maximimum amount of minable bitcoins is 21 million. Current global gold supply is ~ $7 trillion If bitcoin completely replaces gold, bitcoins will be trading for about $333,333.33, so a satoshi would be worth ~$0.0033.
  • sillysaurus3 9y ago
    And if BTC reaches $33M, which is not impossible, that implies $0.33 is the smallest unit of currency. People use quarters for mostly everything now, so this is again quite reasonable.
    • CamelCaseName 9y ago
      Reasonable how? That's a $530T+ valuation at the current number of tokens, or about two times as much as the total global wealth according to Credit Suisse. [0] [0] https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html https://www.credit-suisse.com/corporate/en/research/research...
      • sillysaurus3 9y ago
        I meant satoshis are a reasonable "smallest unit" even at absurd valuations. But that's not necessarily impossible to attain. If BTC wins and the world switches, the resulting bubble might be that big.
• deleted 9y ago
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