New Nocoiner narrative, "Bitcoin is not scarce".

[Wind_FURY]

Because according to her, Bitcoin's divisbility up to 8 decimal places will make Bitcoin "not scarce". We have also seen trolls in the forum say it. Tell these trolls that a whole pizza, divided to 8 slices of that same pizza, then further divided to 16 slices, is still that same whole pizza.

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[Khaos77]

Divide by 10000000000000000.

In the Physical World , you can't keep dividing , as the item loses the characteristics it originally had.
Just try and survive on eating .00000001 of a pizza every meal.

There are no such limits in the virtual realm.
1 bitcoin = 1.00000000
instead of having a single bitcoin, you have 100000000 units.
Meaning your supposed
21000000 bitcoins total supply is really 2100000000000000 units ie: 2.1 Quadrillion Units
And since their is no limiting factor to virtual world division, going to the 12th or 16th place or higher is endless supply.
*Note:LN already makes up a 12 place.*

In Short, She is correct and as usual , you are stupid.  

[davis196]

I get her point of view,but the Bitcoin blockchain is kinda limited,in terms of how many transactions it can handle for a given time frame.This creates a different kind of scarcity and I think that this is more important than the global Bitcoin supply mining limit of 21 million coins.
Other factors that create scarcity on the Bitcoin market are the amount of HODLers and how many BTC they are currently HODLing and the increased difficulty of mining Bitcoins.
Also,there are many cases of BTC wallets,which are lost forever,due to forgotten passwords and various other reasons.

[pooya87]

Did she ever write this "article"? I'm curious to see what technobabble she is going to throw in to justify this claim that makes no sense mathematically or logically.

Not to mention that she is basically changing the definition of "scarce" and with that logical nothing exists in the world that is scarce because everything can be divided to smaller units. For example we can split gold into grams, micro gram, nano gram, pico gram, molecules, atoms, sub atomic particles, sub sub atomic particles,... so it also isn't scarce!!!
One wonders what this logic does to fiat that is already inflationary and keeps being printed while also being divisible to smaller units!

[meanwords]

She is technically correct though that we can divide Bitcoin into smaller pieces but that also comes with its value decreasing proportional to the current price and the amount of sat. At the end of the day, people will want to get a bigger portion of the pie (21 million Bitcoin) because we will never get more than that. That's when scarcity plays.

[pooya87]

She is technically correct though that we can divide Bitcoin into smaller pieces

No, she is technically wrong because first of all dividing something into smaller pieces does not change its supply and secondly the bitcoin's unit is satoshi not bitcoin and 1 satoshi can not be divided to a smaller unit. There isn't even any decimal places defined in the protocol, values are using (U)Int64 and when you send/receive funds you are doing it using satoshis.

[arcmetal]

Divide by 10000000000000000.

In the Physical World , you can't keep dividing , as the item loses the characteristics it originally had.
Just try and survive on eating .00000001 of a pizza every meal.

There are no such limits in the virtual realm.
1 bitcoin = 1.00000000
instead of having a single bitcoin, you have 100000000 units.
Meaning your supposed
21000000 bitcoins total supply is really 2100000000000000 units ie: 2.1 Quadrillion Units
And since their is no limiting factor to virtual world division, going to the 12th or 16th place or higher is endless supply.
*Note:LN already makes up a 12 place.*

In Short, She is correct and as usual , you are stupid.  

Wo, your logic is totally twisted, and you don't seem to have a basic understanding of fractions.  Understanding fractions is something that is usually learned in elementary school.  I'd suggest asking a ten year old for a thorough explanation of how fractions work.  Start with asking what happens when you cut something in half.

We here don't have time to teach such basic skills.

On the bright side, I think you've won the prize for the dumbest comment in this entire forum.  (and I've seen my share of dumb comments in this forum, but this one takes the cake)  woo hoo.

Oh wait, you're joking.  Never mind.

[mk4]

One of the new nocoiner narratives, and probably the shittiest one YET. It's so shitty that it's like 10x worse compared what comes out of Peter Schiff's and Nouriel Roubini's mouths.

My previous response on this topic:

This has been a pretty hot topic on Twitter quite recently, with some people thinking that Bitcoin being possible to cut up to smaller denominations makes it's supply sort of "unlimited". It's like saying that you can feed 50 families with one whole pizza because you can slice it up to 50 pieces. I really don't get it. I mean holy crap that Frances Coppola woman on Twitter is totally bollocks.

[meanwords]

She is technically correct though that we can divide Bitcoin into smaller pieces

No, she is technically wrong because first of all dividing something into smaller pieces does not change its supply and secondly the bitcoin's unit is satoshi not bitcoin and 1 satoshi can not be divided to a smaller unit. There isn't even any decimal places defined in the protocol, values are using (U)Int64 and when you send/receive funds you are doing it using satoshis.

I see. That explanation makes sense.

Anyways, my point is even with satoshis or decimals as her point, her explanation on scarcity on Bitcoin is still flawed or wrong. I'm curious on what benefit will she get from spouting this kind of things? I don't get it. I can only see her getting negative feedbacks.

[franky1]

i am a bitcoin hoarder for 8 years. but i am not a fan of people exaggerating things and trying to overpromise the dreams.

and so
gold bars are scarce. but gold is not scarce. every modern household has gold in it. whether its in their devices or jewellery or vehicle.
you dont have to travel thousands of miles to find gold. nor need expensive excavators to find gold. just look on your computer desk.

when people realise they dont need a whole gold bar and can be satisfied with just a coin or a computer component amount. they soon realise that its not scarce

im not religious but even the bible understood the concept of scarcity 2000 years ago
initial fear of starvation due to the scarcity of food, only 7 loaves to hand out so assumption was only feed 7 people. thus scarce mindset
but when you break it up and hand it to everyone. its no longer scarce. 4000 got fed

when a pizza is sold as a whole pizza where there is a limit that says it cant be cut up. it becomes scarce and people fight over it and try to outbid each other as to who wants/needs it most.
but if you slice it up and hand it out. everyone gets some and no one cares about a whole pizza

its why pizza restaurants sell by the slice. to get more customers to buy.
again if more can buy. its not as scarce

you literally can have your cake and eat it. if you slice it up

heck even 8 years ago i remember bitcoin faucets understanding scarcity. they started to hand out smaller denominations to ensure people got some bitcoin to play with. thus defeating scarcity

yep early days people were crying that faucets were not handing out enough bitcoin... then they started handing out smaller divisions and the crying stopped

[Wind_FURY]

gold bars are scarce. but gold is not scarce. every modern household has gold in it. whether its in their devices or jewellery or vehicle.
you dont have to travel thousands of miles to find gold. nor need expensive excavators to find gold. just look on your computer desk.

im not religious but even the bible understood the concept of scarcity 2000 years ago
initial fear of starvation due to the scarcity of food (only 7 loaves) but when you break it up and hand it to everyone. its no longer scarce. everyone got fed

when a pizza is sold as a whole pizza where there is a limit that says it cant be cut up. it becomes scarce and people fight over it and try to outbid each other as to who wants/needs it most.
but if you slice it up and hand it out. everyone gets some and no one cares about a whole pizza

its why pizza restaurants sell by the slice. to get more customers to buy.
again if more can buy. its not as scarce

you literally can have your cake and eat it. if you slice it up

Are you trolling? Or did you actually believe that your post could convince everyone that Bitcoin, Gold, or THE ONE AND ONLY PIZZA is not scarce simply because you cut it into very small pieces?

I want to buy the whole pizza? How much?

Cut it into very small pieces? I want to buy all the little pieces to get the whole pizza? How much?

[franky1]

Are you trolling? Or did you actually believe that your post could convince everyone that Bitcoin, Gold, or THE ONE AND ONLY PIZZA is not scarce simply because you cut it into very small pieces?

I want to buy the whole pizza? How much?

Cut it into very small pieces? I want to buy all the little pieces to get the whole pizza? How much?

your confusing bitcoin the currency with 1btc

if you went to a party and someone handed you some pizza.. you would be the only one complaining that its not a whole pizza and thus you will deny the slice is even pizza

so when the party organiser orders 2 pizza's but there are 32 people at the party. you will be the one that will take 16 slices and say thats your pizza, because you were promised pizza

i do not think you understand scarcity at all. and you cannot conceive that bitcoin can be handed to more than 21million people

the 21mill limit becomes meaningless if more then 21m people can have some
subdivisions is another form of inflation.

in investments share dilutions is a form of inflating companies holdings

[arcmetal]

the 21mill limit becomes meaningless if more then 21m people can have some
subdivisions is another form of inflation.

It appears that you have that backwards.  21 million units is a hard limit, therefore, there is no inflation if you can't add more units.

If more than 21 million people try to buy bitcoins, not all will have one bitcoin.  So the limit becomes more important, not less important, if more people than 21 million try to have it.

in investments share dilutions is a form of inflating companies holdings

Again, you have what bitcoin is doing backwards.  In share dilutions, more shares are created. For example, if 100 shares exist today, but tomorrow they add 50 more shares, then the total number of shares are diluted to 150.

No one is adding more bitcoins than the current final count of 21 million.

[0t3p0t]

Divide by 10000000000000000.

In the Physical World , you can't keep dividing , as the item loses the characteristics it originally had.
Just try and survive on eating .00000001 of a pizza every meal.

There are no such limits in the virtual realm.
1 bitcoin = 1.00000000
instead of having a single bitcoin, you have 100000000 units.
Meaning your supposed
21000000 bitcoins total supply is really 2100000000000000 units ie: 2.1 Quadrillion Units
And since their is no limiting factor to virtual world division, going to the 12th or 16th place or higher is endless supply.
*Note:LN already makes up a 12 place.*

In Short, She is correct and as usual , you are stupid.  

You are correct on the Physical world we can't keep on dividing because supply is vast, but we are talking about Bitcoin with only 21,000,000 supplies. Whales, institutions and ordinary investors keep on buying Bitcoins and keep in mind that it is not just the supply that matters in the scarcity of Bitcoin but also the price that will keep it hard to aquire even in fractions. What I mean here is an individual, institution and company all over the world may acquire tens to hundreds of thousands of Bitcoins plus those that are lost totally and the what we called halving are some of the factors affecting scarcity but not in pizza because everyone can buy that in different places around the world compared to Bitcoin which whales, institutions and companies are looking for anywhere with no brands, no flavors just a scarce crypto.

[Wind_FURY]

Are you trolling? Or did you actually believe that your post could convince everyone that Bitcoin, Gold, or THE ONE AND ONLY PIZZA is not scarce simply because you cut it into very small pieces?

I want to buy the whole pizza? How much?

Cut it into very small pieces? I want to buy all the little pieces to get the whole pizza? How much?

your confusing bitcoin the currency with 1btc

if you went to a party and someone handed you some pizza.. you would be the only one complaining that its not a whole pizza and thus you will deny the slice is even pizza

so when the party organiser orders 2 pizza's but there are 32 people at the party. you will be the one that will take 16 slices and say thats your pizza, because you were promised pizza

i do not think you understand scarcity at all. and you cannot conceive that bitcoin can be handed to more than 21million people

the 21mill limit becomes meaningless if more then 21m people can have some
subdivisions is another form of inflation.

in investments share dilutions is a form of inflating companies holdings

You are simply confused. The point is, no matter how much you divide the THE ONE PIZZA, it's not infinitely divisible, and there's only THAT ONE WHOLE PIZZA for all, and therefore scarce. I can't wait for her article though.

[BitcoinFX]

Because according to her, Bitcoin's divisbility up to 8 decimal places will make Bitcoin "not scarce". We have also seen trolls in the forum say it. Tell these trolls that a whole pizza, divided to 8 slices of that same pizza, then further divided to 16 slices, is still that same whole pizza.

It gets worse ...

"math is hard"
- https://twitter.com/_benkaufman/status/1343839142287990784



 

...

"Gonna be hard to find a dumber tweet on Crypto Twitter Today"
- https://twitter.com/BitcoinMemeHub/status/1344046965416464390



...

Q. Now write the expression for the volume of a thick crust pizza with height "a" and radius "z".

 

[roadrunnerjaiv2025]

I think she's treating bitcoin like fractals (infinitely complex patterns that are self-similar across different scales), or she just doesn't know the fundamentals of the blockchain. It's also possible that she is under the impression that anything digital is self-reproducing.

[Upgrade00]

the 21mill limit becomes meaningless if more then 21m people can have some
subdivisions is another form of inflation.

That's the point of it being divisible. If Bitcoin was designed to be owned by only at least 21 million people, it could have been crap imo, and would have little or no use case. Bitcoin is divisible and as such anyone can own a fraction of it. This does not make the 21 million cap meaningless as that's exactly how much Bitcoins there ever would be.

in investments share dilutions is a form of inflating companies holdings

Share or stock dilution is quite different from an asset being divisible. On one hand new equity or shares are introduced into the market, making existing ones less valuable, and on the other hand NO new equity, stock or share is introduced into the market.

im not religious but even the bible understood the concept of scarcity 2000 years ago
initial fear of starvation due to the scarcity of food, only 7 loaves to hand out so assumption was only feed 7 people. thus scarce mindset
but when you break it up and hand it to everyone. its no longer scarce. 4000 got fed

A 'biblical miracle' is probably not the best analogy to use in driving your point home.

[tranthidung]

satoshi is a base unit (also smallest) of bitcoin. Bitcoin is scarce while satoshi is not scarce, I can agree but please look at the chronological changes in the way bitcoiners use bitcoin and satoshi. There are some meaningful discussions and explanations on why satoshi chose the total supply at 21 million bitcoins.

Sources

• Bitcoin: An Unprecedented Experiment in Fair Distribution
• The 21 Million Bitcoin Question

I remember this discussion, actually.

Finney, Satoshi, and I discussed how divisible a Bitcoin ought to be. Satoshi had already more or less decided on a 50-coin per block payout with halving every so often to add up to a 21M coin supply. Finney made the point that people should never need any currency division smaller than a US penny, and then somebody (I forget who) consulted some oracle somewhere like maybe Wikipedia and figured out what the entire world’s M1 money supply at that time was.

We debated for a while about which measure of money Bitcoin most closely approximated; but M2, M3, and so on are all for debt-based currencies, so I agreed with Finney that M1 was probably the best measure.

21Million, times 10^8 subdivisions, meant that even if the whole word’s money supply were replaced by the 21 million bitcoins the smallest unit (we weren’t calling them Satoshis yet) would still be worth a bit less than a penny, so no matter what happened – even if the entire economy of planet earth were measured in Bitcoin – it would never inconvenience people by being too large a unit for convenience.

[figmentofmyass]

ah, frances coppola. of course she's trolling us now that bitcoin is back at ATHs. as a QE-loving keynesian, her hatred of bitcoin runs deep---to the point of irrationality, apparently.

subdivisions is another form of inflation.

in investments share dilutions is a form of inflating companies holdings

0.00000001 BTC is the same as 0.0000000100 BTC. nothing is being diluted.

was dividing BTC into bitcents and mBTC also a form of inflation?