The Bitcoin decimal issue

[wingding]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

After pondering a little on the rich man's last answer, the villagers became euphoric and danced in a ring shouting: "It can be divided into crumbles - and then into microcrumbles!" "It will be plenty for everyone!"  Some time after that they were all dead.
 

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[TTBit]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

F-

[grue]

b8/10

[Foxpup]

This has to be one of the dumbest posts I've ever seen on this forum, and that's saying a lot. If the "problem" is that it is impossible for Bitcoin to produce infinite wealth by infinite splitting, then a) nobody who suggests splitting bitcoins has that as a goal; and b) if you think that is their goal, or should be, or is even remotely possible in any way whatsoever, or that anyone even believes it is possible, then you're an idiot.

[WinVery.com]

Yes this post shows major deficits in comprehension.  Particularly of relative value.

[franky1]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

food and currency are 2 different things.

lets sat a town mayor owned one satoshi. he could divide it up as a trusted person into 100,000 parts and print pieces of paper that he trades gold, food, land for the decimals and then the receivers of the decimals can then use those decimals to trade amungst themselves for food, products etc. or trade with the town mayor to change the decimals back into gold/land whatever. never disappearing.

one slice of bread will keep a stomach happy for half a day. after that its gone never to come back, flushed down the toilet and tomorrow everyone is to starve.

completely different things entirely

[jagallout]

This story reminds me of the infinite division vs infinitely small logic puzzle:  The question goes something along the lines of:  If you can split a minute/inch/teddy bear etc.  into an infinite number of smaller pieces, and because infinity is of course never ending, how is it then possible that your minute/inch/severed puppy ear is not infinitely long/long/(hairy?).

[abdada]

The OP has no understanding of basic economics.

The value of any currency isn't "set" except by supply and demand.

100 years ago, you could buy a candy bar for $0.01.  Today that same candy bar is $1.00.  We didn't NEED to make the price more expensive, and it isn't more expensive at all, because the value of the US dollar has fallen 99x in 100 years.  So today's $1.00 is EQUAL to $0.01 from 100 years ago.

BTC will operate in the opposite fashion if it becomes widely used.  What costs 1BTC today might only cost 0.01BTC in 10 years, but the VALUE will be identical.

[kwukduck]

This has to be one of the dumbest posts I've ever seen on this forum, and that's saying a lot. If the "problem" is that it is impossible for Bitcoin to produce infinite wealth by infinite splitting, then a) nobody who suggests splitting bitcoins has that as a goal; and b) if you think that is their goal, or should be, or is even remotely possible in any way whatsoever, or that anyone even believes it is possible, then you're an idiot.

This.

OP just took first position on my 'dumbest posts' list. Congratulations.

[MagicBit15]

There was once a man who lived in a poor city. He decided he loved all his people so much that he wanted them to be rich. He thought "If I could just find a way to make more money, I can help my people!!" So he simply broke into the mint and printed more money for them. Everytime there was a problem he broke in and printed more and more money to solve the issue. Eventually everyone had money making it become more and more useless and inflating the price of everything beyond a reasonable doubt. There was never a resolution, and the people of his city are still dealing with the problem to this very day. Sound familiar? 


It should because your one of the citizens.

Welcome one of the many global economic issues of today. Good Luck!!

[wingding]

There once was a man called Nakamoto. He printed a million coins. He was later joined by a few other guys who together printed yet a few million coins. Thereafter many people joined, but printing then became very difficult. Actually the printing press will slow down to zero. However, those guys who printed the first coins are willing to sell their coins to rest of the world. And if those other people of the world only can grab a fraction of a coin, don't worry - it can be divided by 10e8. Economy!

[Gabi]

This story reminds me of the infinite division vs infinitely small logic puzzle:  The question goes something along the lines of:  If you can split a minute/inch/teddy bear etc.  into an infinite number of smaller pieces, and because infinity is of course never ending, how is it then possible that your minute/inch/severed puppy ear is not infinitely long/long/(hairy?).

That was solved like in 1600 https://en.wikipedia.org/wiki/Infinitesimal_calculus
https://en.wikipedia.org/wiki/Calculus
https://en.wikipedia.org/wiki/Differential_calculus
https://en.wikipedia.org/wiki/Integral_calculus

[silvergoldandbitcoin]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

..... I don't know whether to laugh or cry at this post.

[AliceWonder]

The OP has no understanding of basic economics.

The value of any currency isn't "set" except by supply and demand.

100 years ago, you could buy a candy bar for $0.01.  Today that same candy bar is $1.00.  We didn't NEED to make the price more expensive, and it isn't more expensive at all, because the value of the US dollar has fallen 99x in 100 years.  So today's $1.00 is EQUAL to $0.01 from 100 years ago.

But if I have a penny from 10 years ago it isn't worth squat today, worth less than when it fell out of my pocket and rolled under the dresser. However if I have a bitcoin from 5 years ago it is worth a lot more. I like deflationary currency

[Jace]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

1e-8 bitcoin can serve the EXACT same purpose as 1 bitcoin, in terms of using it as a digital currency unit.

1 breadcrumb can NOT serve the exact same purpose as 1 bread, in terms of satisfying a person's hunger.

Was that so hard?

[Bogdan]

I dont see how that related to this.

[jackjack]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

[Rampion]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

[niko]

Once upon a time there was a village where one rich man who had ten breads while the rest of the village was poor and starved. The rich man said to the poor people: "listen, I will share one bread with the rest of you, that should keep you satisfied" the villagers responded: "one bread wont feed us all" The rich man said "Oh, that is no problem, the bread can be cut into 20 slices". But The villagers responded "that is not enough, we are thousands of starving people" The rich man then said "that is still not a problem, because each slice of bread can be divided into hundreds of crumbles - and if that is not enough for you, each crumble can actually be divided into billions of molecules"

Stupid story? Well it is exactly the same logic that a disturbingly lot of people here believe can solve the problem of the limited supply of bitcoins.

Reported, with a request to burn after reading.

[kjj]

Once upon a time, there was a guy that didn't understand the difference between physical goods with mass, and abstract money.  He wrote a story comparing bread to bitcoin.  Sadly, everyone laughed at him, because each tiny little bit of bread can only be consumed once, so the whole loaf has only a fixed amount of sustaining power, no matter how divided, while money circulates to be used over and over again without ever being consumed.