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M0 would work as a comparison only if nobody saved in BTC. If people did save in BTC, you'd need a much broader definition of money supply as comparison, and cs
by nhaehnle 13y ago
M0 would work as a comparison only if nobody saved in BTC. If people did save in BTC, you'd need a much broader definition of money supply as comparison, and cshimmin's comparison makes sense.
And since that's a common objection: a reserve banking system on top of BTC would at best last two generations due to a lack of a central bank.
- runeks 13y agoIf we use M2, which is like $11t, then Bitcoin seems to be in the same situation as the dollar. $11t is 1100 trillion cents. Bitcoin currently has exactly the same amount of indivisible currency units: 1100 trillion (11,000,000 BTC which are divisible into 100,000,000 units).