3 ms·
What is the point if only 21 million can be generated? Are they infinitely divisible or something? Thats less than one bitcoin per person in California alone.
by fleitz 16y ago
What is the point if only 21 million can be generated? Are they infinitely divisible or something? Thats less than one bitcoin per person in California alone.
- kiba 16y agoThey are divisible to the 8th place. Even then, that still could be fixed.
- fleitz 16y agoInteresting, I should open a bitcoin bank.
- getsat 16y agoWould gold and silver be valuable if there was an infinite supply of them? You can't print/generate money indefinitely (unless you think quantitative easing is a legitimate economic stimulus strategy and you happen to be the Federal Reserve). If the desire for BTC goes up, so will its value. There's no problem here.
- maurycy 16y agoMoney is a mean of exchange that happens to be a store of value. A thing that punishes the exchange is not an effective money. In an economy with a finite amount of money, even potentially, the exchange is not rational given that the money's value grows over time. That's why the focus is on generating BitCoins.
- getsat 16y agoAfter all the BTC are generated, only market conditions and demand will affect its value. It's not guaranteed to deflate perpetually.
- rmc 16y agoYou can't print/generate money indefinitely Why not? Our current currencies (which are a lot more useful than BTC) are not backed by any finite commondity like gold.
- getsat 16y agoExactly, they're fiat currencies: http://en.wikipedia.org/wiki/Fiat_money http://en.wikipedia.org/wiki/Fiat_money