Bitcoin Forum
May 06, 2024, 12:00:21 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 [4]  All
  Print  
Author Topic: New Nocoiner narrative, "Bitcoin is not scarce".  (Read 417 times)
franky1
Legendary
*
Offline Offline

Activity: 4214
Merit: 4473



View Profile
January 03, 2021, 02:34:01 AM
 #61

This was answered long ago, but I can answer it here.

So, what happens if people can't afford a satoshi ? Then the code can be modified to add more decimal places.  That is, the smallest unit then, instead of 8 decimal places, would become 10, 12, decimal places, and so on.  The code allows for this.

bitcoin code is not made of decimals.
bitcoin raw transactions are and never have been measured in btc

the code does not allow for it.
alot of changes and rule breaking will have to occur to allow more sharable units of measure

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
1714996821
Hero Member
*
Offline Offline

Posts: 1714996821

View Profile Personal Message (Offline)

Ignore
1714996821
Reply with quote  #2

1714996821
Report to moderator
"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714996821
Hero Member
*
Offline Offline

Posts: 1714996821

View Profile Personal Message (Offline)

Ignore
1714996821
Reply with quote  #2

1714996821
Report to moderator
Wind_FURY (OP)
Legendary
*
Offline Offline

Activity: 2912
Merit: 1825



View Profile
January 03, 2021, 08:55:21 AM
 #62

WTF?

Why does it matter how many decimal places there are with BTC? How does that affect the immutable fact that bitcoin issuance will never exceed 21 million?

Is she saying that since gold can be subdivided down to individual atoms, it is not scarce?

Please. This is elementary maths. She's embarrassing herself.

in code. things are measured in satoshi's
yep look at a raw transaction and look at the values being moved. they are not being moved in decimals of bitcoin. but being moved in satoshis


franky1, but Bitcoin will never issue more than 21 million Bitcoins, or "2.1 quadrillion satoshis". The demand is currently so high, investors are buying the satoshis by the quadrillions, then HODLing them, making them scarce, leaving merely a few billions/trillions in some orderbooks. Cool

██████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██████████████████████
.SHUFFLE.COM..███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
█████████████████████
████████████████████
██████████████████████
████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████████████████████
██████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
.
...Next Generation Crypto Casino...
Pages: « 1 2 3 [4]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!