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Author Topic: Infinite Bitcoin divisibility vs unlimited Fiat supply  (Read 754 times)
deisik
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August 02, 2016, 09:34:53 AM
 #21

But it is enough to show that it is actually you who "clearly don't even know the most basic things about computers and software", right?

Actually no - you have made the fool out of yourself which is why no-one else is interested in your nonsense topic.

Enough of troll feeding - I'm spraying some "troll begone" on you now and really leaving this retarded topic "to the retards"

Good riddance

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August 03, 2016, 12:09:35 PM
 #22

Well, bitcoin is not the solution to end poverty, it never was, I think it is pretty obvious who has benefited and is going to continue to benefit from this system, high educated first world males, the richer the better.

I agree with that. The bitcoin is just help the poor so that their wealth will not be inflated away by the fiat.
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August 03, 2016, 04:31:56 PM
 #23

It suddenly struck me that Bitcoin infinite divisibility (which Bitcoin fanboys often brag about) has virtually the same effect as the fiat unlimited supply in respect to making the rich even richer while the poor poorer in the long run...

Let's assume that Bitcoin has become the universal currency for the sake of simplicity

You did not elaborate, of exactly how infinite divisibility makes the "rich even richer" and the "poor poorer" in "the long run". I doubt that your argument is really valid, because in contrast to owning fiat money with virtually unlimited supply, owning Bitcoin is not subject to inflationary devaluation. The opposite is true: With increasing Bitcoin use, the purchasing power of the same amount of Bitcoin owned will likely increase since the total number of Bitcoin is fixed. Divisibility is a necessity to make payments feasible in the context of increasing buying power - it does in no way reduce the value of one's holdings.

Bitcoin was not introduced to make socialist's pipe dreams a reality. Bitcoin won't change human behavior. It's a simple fact that most people can't exercise delay of gratification - these people live beyond their means and will never become rich. However even for those people Bitcoin is in fact advantageous, since it takes away inflationary devaluation.

ya.ya.yo!
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August 03, 2016, 05:37:33 PM
Last edit: August 04, 2016, 06:39:10 PM by deisik
 #24

It suddenly struck me that Bitcoin infinite divisibility (which Bitcoin fanboys often brag about) has virtually the same effect as the fiat unlimited supply in respect to making the rich even richer while the poor poorer in the long run...

Let's assume that Bitcoin has become the universal currency for the sake of simplicity

You did not elaborate, of exactly how infinite divisibility makes the "rich even richer" and the "poor poorer" in "the long run". I doubt that your argument is really valid, because in contrast to owning fiat money with virtually unlimited supply, owning Bitcoin is not subject to inflationary devaluation. The opposite is true: With increasing Bitcoin use, the purchasing power of the same amount of Bitcoin owned will likely increase since the total number of Bitcoin is fixed. Divisibility is a necessity to make payments feasible in the context of increasing buying power - it does in no way reduce the value of one's holdings

Indeed, you are entitled to think that my point is not valid. Some morons even discard the whole idea of infinite divisibility as being nonsensical and meaningless altogether without ever realizing that this is no more than a catchy metaphor, a convenient figure of speech, lol. But let's return to our muttons now. Do you agree that unlimited fiat supply makes the rich richer and the poor poorer, and clearly understand how that happens?

Without understanding this you won't be able to fully grasp why my point is in fact valid in respect to Bitcoin as well

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