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Author Topic: When there are 2,100 trillion Satoshis why the talk of scarcity?  (Read 271 times)
Marbelli
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November 16, 2018, 11:10:39 PM
 #21

As I understand it, it’s about the number of coins and there are really 21 million, plus the number of coins themselves is limited, unlike dollars, which regularly print as much as they need

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November 16, 2018, 11:35:33 PM
Last edit: November 17, 2018, 09:36:50 PM by leopard2
 #22

The assumption is wrong, you cannot spend single satoshis, at least not on-chain (dust limit)

In order to get round numbers when converting fiat currency (e.g. 1 cent = xxxx satoshis) you also need several digits.

The smallest practical denomination is maybe 1000-10000 satoshis

There is not even enough BTC for each millionaire to own one, so they are pretty rare - especially compared to other cryptos.  Wink

Look at it like this: Gold is rare. Yes there are trillions of atoms per gram, there is enough gold on the planet for each person to own a little gold dust. But it is still rare compared to iron, or silicon.  Grin

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