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Bitcoin was invented with a number go up mechanic, and the idea that a single Bitcoin would be immensely valuable were the currency to gain traction was a point
by jazzyjackson 1y ago
Bitcoin was invented with a number go up mechanic, and the idea that a single Bitcoin would be immensely valuable were the currency to gain traction was a point of discussion from the start
Fact is it became popular with speculators faster than it did with anybody else, but the hodlers weren't doing anything to stop people from using it to buy pizza.
- tromp 1y agoThe capped emission certainly encourages FOMO and speculation. A fixed block reward would still provide scarcity in the long term while strongly discouraging speculation [1]. [1] https://tromp.github.io/blog/2020/12/20/soft-supply https://tromp.github.io/blog/2020/12/20/soft-supply
- rchaud 1y agoDoesn't seem like a hard cap when every BTC is almost infinitely divisible into smaller amounts of "satoshis".
- jazzyjackson 1y agodenominating US money supply in hay pennies does not double the money supply
- tromp 1y agoEnjoy your uncapped supply of food and drinks, with each kg almost infinitely divisible into septillions of molecules.