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The bitcoin currency has a hard limit of 21 million units ever being produced. Right now, a bitcoin is worth ~73$. At the current market rate, the entire possi
by alt_f4 14y ago
The bitcoin currency has a hard limit of 21 million units ever being produced.
Right now, a bitcoin is worth ~73$. At the current market rate, the entire possible bitcoin market is worth $1.533bn. On the other hand, Cyprus GDP is $24 billion. So... you see where things start to fall apart...
- toufka 14y agoyou do realize those 21 million units can be divided indefinitely. There is currently a soft limit imposed on the size of fractional units - but unlike the total, it can be changed quite easily. So just because there are 21 million units ahead of the decimal, doesn't mean there can't be an additional 100 million units within each of those 21 million. Computers don't particularly care what exponent the floating point is multiplied by.
- eric_bullington 14y agoThe reference bitcoin client is actually implemented with 64-bit integers, with a bitcoin defined as starting 8 decimal places to the left. But your point stands, which is that bitcoins are highly divisible. In fact, a "satoshi" is the unit name for one hundredth-millionth of a bitcoin.
- alt_f4 14y agoOh sure, but you'd be diluting all existing fractional unit owners. So, being taxed 10% still sounds better to me than being diluted by 50% or more because someone arbitrary decided that there are 200 fractional units now, not 100 as before (figuratively speaking).