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As long as a single bitcoin exists, there'll still be more fractional bitcoins available to divide among people than there are US cents* * may not be precisely
by Shish2k 14y ago
As long as a single bitcoin exists, there'll still be more fractional bitcoins available to divide among people than there are US cents*
* may not be precisely true, but it's something along those lines.
- fr0sty 14y agoThis is off by at least three orders of magnitude. 1BTC = 10M satoshi. 2012 US Penny Production = ~6B 6bn/10M = 600 Total number of us pennies made in the last 10 years tops 43B which pushes the difference from 600x to 4300x
- mike-cardwell 14y ago1 satoshi is classified as "the smallest denomination currently possible". The important part of that is "currently possible". The protocol allows for us to divide down as far as we want. All we need is a software update. Even if there were an upper limit of 21 trillion bitcoins, people would still be worring about them being lost, even though it makes no difference.
- mrb 14y ago1 BTC = 100M satoshi, not 10M Shish2k's point stands, only with "430 BTC is as many satoshis as there are US pennies". But this is irrelevant anyway. If 1 satoshi ever becomes too coarse-grained, the whole Bitcoin community would obviously agree to revise the protocol to further subdivide satoshis...