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Bitcoins are very divisible. As more and more people use Bitcoins, the coins become worth more and people can simply trade smaller and smaller pieces of them. T
by phantom784 12y ago
Bitcoins are very divisible. As more and more people use Bitcoins, the coins become worth more and people can simply trade smaller and smaller pieces of them. The limited supply doesn't limit the number of users.
- nitid_name 12y agoThey do have a division limit though. One satoshi is only four orders of magnitude smaller than a penny (US). EDIT: answered my own question
- natrius 12y agoThe blockchain describes stakes in a conceptual ledger. The current limitations on divisibility are easy to change in the future. 21 million is arbitrary and meaningless.
- gnaritas 12y ago> The current limitations on divisibility are easy to change in the future. Not true. > 21 million is arbitrary and meaningless. Also not true. Changing either of those things requires a hard fork of the network and a majority consensus among the miners globally which is in no way "easy to do".
- natrius 12y agoIt's easy to do if it will increase miner wealth, which a more useful currency will do. Disagree with that all you want. My point is that it's possible. Speculating about the likelihood of it succeeding doesn't seem worthwhile to me.
- gnaritas 12y agoCall it easy all you like, you're still incorrect.