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0 pointsnonsince8y ago0 comments

Yes, but that still means that the price _per bitcoin_ will keep increasing.

0 comments

That's fine, I'm not talking about the price. I just mean its not really scarce when you can divide it up so much and trade it. The scarcity is fake. It's like saying there is only 10 trillion dollars in a bank so the trillions are scarce if I'm only going to trade 1 trillion at a time.

appleflaxen8y ago

i don't understand your reasoning.

it seems like you're saying potato chips aren't scarce, because I can break the chips in my bag up until everyone in the world has a piece of potato chip, and thereby feed the world.

in economic terms, scarcity means that the supply is fixed. and bitcoin supply, by definition and network consensus, is fixed.

oulrich8y ago

Potato chips have some intrinsic utility. Coins (digital or otherwise) generally do not.

I think this is what makes 'breaking up potato chips' into a million pieces to solve hunger seem ridiculous. Where-as splitting a coin into values seems natural. To me at least.

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