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Does it not? Is there a bounded limit to the amount bit-coin can be subdivided? If 0.0000000000001 of a bitcoin is valid for purchases etc. then doesn't the li
by SunlightEdge 5y ago
Does it not? Is there a bounded limit to the amount bit-coin can be subdivided? If 0.0000000000001 of a bitcoin is valid for purchases etc. then doesn't the limited supply become meaningless?
Yes, technically you are not increasing the size but it feels like word play.
- panarky 5y agoDoes subdividing a hundred dollar bill into 10,000 cents somehow increase the supply of dollars?
- SunlightEdge 5y agoSo the point is that if bitcoin transactions can occur without a lower bound limit (and I'm still waiting for an answer as I don't know) there is an infinite supply. The dollar point feels more like word play. In retail there is a lower bound limit for dollars and this is 0.01 dollars. Not so with Bitcoin transactions. If 0.00001 of bitcoin etc. Is viable tender then simply put the limited supply of bitcoin might be misleading.
- panarky 5y agoThere is no lower limit for dollars. In the US, fuel stations price in tenths of a cent. Google Cloud's per-second billing prices resources with a millionth of a cent precision. One troy ounce of gold consists of 3.36x10^27 atoms. There is not an infinite supply of Bitcoin, dollars or gold just because you can divide them into arbitrarily small pieces.
- SunlightEdge 5y agoSo I said in retail the dollar is limited. I'm aware in finance etc. there isn't a lower limit of dollars. Again (for the third time) are you aware if fractions of bitcoin can be sent from one account to another? Or does it have to be one whole bitcoin? Again I don't know. I'm just thinking theoretically you could convert bitcoin into bitcoin_plus and these coins represent 0.0001 of a bitcoin. And tada you have 100 million coins in circulation etc.
- SunlightEdge 5y agoI also noted in my first comment that "technically you are not increasing the supply". Cheers