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Who and/or what decides by what mechanisms and when satoshis would be divided into smaller units ? Doesn't that make it virtually valueless by definition ?
by jrimbault 7y ago
Who and/or what decides by what mechanisms and when satoshis would be divided into smaller units ?
Doesn't that make it virtually valueless by definition ?
- Geee 7y agoNo, it doesn't change the value. It's just more decimals. A hard fork would be needed to make the change in the protocol. Similarly a bank can use whatever amount of decimals they wish to store their dollar amounts, it doesn't create new money. You can also divide gold into infinitesimal amounts. You can already send millisatoshis on the Lightning network, which is rounded to a nearest satoshi when it's settled on the blockchain.
- deleted 7y ago[deleted]