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Cryptocurrencies are most certainly divisible. You don't have to trade whole "coins". The biggest problem I see is the fact that it is a deflationary currency.
by supreme_sublime 9y ago
Cryptocurrencies are most certainly divisible. You don't have to trade whole "coins".
The biggest problem I see is the fact that it is a deflationary currency. Which makes it a pretty great store of value, but it also means that it is almost guaranteed to be worth more tomorrow than it is today. So instead of spending money or investing it for other people to use so it will grow, people will be incentivized to hold onto it.
Edit - I was not aware that a "satoshi" is the term for the smallest denomination of Bitcoin. I was under the impression it was a generic kind of cute name for cryptocurrencies.
- jjnoakes 9y ago> Cryptocurrencies are most certainly divisible The parent asked "what happens when a piece of bread is worth less than 1 satoshi?" - as far as I know, one satoshi is not divisible; am I mistaken?
- zwily 9y agoSantiago originally said if we need more than 8 decimal places, it can be done with an update. There’s nothing really fundamental in Bitcoin that is limiting it to 8 decimal places.
- beiller 9y agoYou should probably clarify that 1 satoshi = 0.00000001 bitcoins, the current smallest unit. Now people say "we can move the decimal point", but I believe they are stored as 64 bit integers. Which means the smallest unit is not infinitely divisible without moving to say 128 bit integers (which is not much _more_ of a hurdle, but still slightly higher effort than implied by adding more precision).