3 ms·
There's a fixed amount, but it can be divide to very tiny parts (1e-8 of a BTC). So, there's a fixed amount, but in practice, there quite a lot of it (2.1e15 i
by ur-whale 6y ago
There's a fixed amount, but it can be divide to very tiny parts (1e-8 of a BTC).
So, there's a fixed amount, but in practice, there quite a lot of it (2.1e15 if I'm not too drunk).
- arcticbull 6y agoThat means nothing if the wealth distribution is somehow worse than that of US dollars, which it is, and there’s no mechanism to create new dollars to give to folks to even it out.
- ur-whale 6y agoNon-sequitur olympics, here I come.
- arcticbull 6y agoNope you’re not understanding my point and that could easily be my bad. That’s part of what inflation does. It allows the monetary system to react to shocks and changes like population growth and global pandemics. Deflation without creation of monetary units benefits the existing concentration of wealth as you and your children get to fight each other for scraps. These pieces are all connected. This system will lead to the existing moneyed class of coiners becoming more and more wealthy as a function of economic productivity forever.
- ChainOfFools 6y ago>This system will lead to the existing moneyed class of coiners becoming more and more wealthy as a function of economic productivity forever. This, along with depriving The Great State-an of a means to operate an effective revenue collection system, has been the real objective since the beginning. Decentralization has never been anything other than a mantra, a fig leaf to be casually dropped when no longer useful or credible. "Hyperbitcoinization" means never having to say you're sorry for selling a fraud to 'the masses'