3 ms·
there is a finite amount of gold, but we don't know exactly how much that is, we could potentially find several big gold veins tomorrow and crash the gold marke
by Drakim 2y ago
there is a finite amount of gold, but we don't know exactly how much that is, we could potentially find several big gold veins tomorrow and crash the gold market.
There is a finite amount of Bitcoin, and the amount of Bitcoin that will be injected into the market is deterministic by algorithm.
(Note that there are several old bitcoin wallets with "dead" bitcoins that could one day suddenly become active, which I suspect would have the same effect as finding a new goldmine)
- brookst 2y agoBut there are lower bounds on how much you can split gold. Part of its value is as a tangible stored value. Nobody will store 0.00001 ounce of gold because you’d be in danger of accidentally inhaling it. The numerator for Bitcoin has an upper limit, but the denominator does not; it is functionally infinitely divisible with no loss of value. This doesn’t negate the argument, but mitigates it some.
- Drakim 2y agoWhat you are saying is just objectively wrong, Bitcoin has a lower limit for it's denominator, it even has a fancy name: "one satoshi"