21 million units divided by 1 billion facebook users

[remotemass]

21 million units divided by 1 billion facebook users...

Do you like the idea of a facebook currency like that?

[grue]

bitcoins are divisible by 8 digits, so it's really 21 quadrillion units.

[dree12]

bitcoins are divisible by 8 digits, so it's really 21 quadrillion units.

I've heard this spewed around so much it's getting old. There are not even 1/10 of 21 quadrillion units of Bitcoin: there are, as of the current protocol, going to be no more than 2099999997690000 (slightly less than 2.1 quadrillion) units. And given coin destruction, the actual number is likely 200 trillion fewer.

[dunand]

I stopped to read at facebook

[DeathAndTaxes]

er wait you believe 90%+ of coins minted will be lost?  Did you have any historical references to back that up?  I mean has 90%+ of gold been lost?  90%+ of printed currency lost?

On edit:  Ignore.  I can't read.

[remotemass]

I used the word "units" because I didn't want to say 'bitcoins' or 'satoshis'.
I was thinking of a facebook currency and making the analogy to the 21 million to be distributed in a very fair way, that is, equally to all facebook users.
 

[2GOOD]

bitcoins are divisible by 8 digits, so it's really 21 quadrillion units.

I've heard this spewed around so much it's getting old. There are not even 1/10 of 21 quadrillion units of Bitcoin: there are, as of the current protocol, going to be no more than 2099999997690000 (slightly less than 2.1 quadrillion) units. And given coin destruction, the actual number is likely 200 trillion fewer.

The biggest lost I'm aware of is Bitomat.pl - around 17,000 Bitcoins

[kgo]

er wait you believe 90%+ of coins minted will be lost?  Did you have any historical references to back that up?  I mean has 90%+ of gold been lost?  90%+ of printed currency lost?

He said the amount lost (not remaining) would be 200 trillion, meaning a loss of ~10%.

[Meni Rosenfeld]

er wait you believe 90%+ of coins minted will be lost?  Did you have any historical references to back that up?  I mean has 90%+ of gold been lost?  90%+ of printed currency lost?

dree12 said that
21 million coins X 100 million satoshis per coin = 2.1 quadrillion satoshis
And not 21 quadrillion as grue said. 2.1 is 10% of 21.

I used the word "units" because I didn't want to say 'bitcoins' or 'satoshis'.
I was thinking of a facebook currency and making the analogy to the 21 million to be distributed in a very fair way, that is, equally to all facebook users.

What is fair about it? What about those that don't have a Facebook account because they think Facebook is one of the greatest plagues humanity has ever experienced? What about those who have several Facebook accounts?

[grue]

I used the word "units" because I didn't want to say 'bitcoins' or 'satoshis'.
I was thinking of a facebook currency and making the analogy to the 21 million to be distributed in a very fair way, that is, equally to all facebook users.
 

dree12 said that
21 million coins X 100 million satoshis per coin = 2.1 quadrillion satoshis
And not 21 quadrillion as grue said.

my bad, must have added an extra zero somewhere 

[Kupsi]

21 million units divided by 1 billion facebook users...

Do you like the idea of a facebook currency like that?

That's 21 milliunits / user. Sounds good  

[MPOE-PR]

Seeing how virtually all those Facebook accounts are fake the FB-BTC comparison doesn't work out so well for FB.

You could divide 21mn BTC by 10-12 trn USD. Also fake, but not quite to the degree.