Quote from: Light on December 03, 2015, 11:11:03 AM

Quote from: Amph on December 03, 2015, 08:59:00 AM

Quote from: hayek on December 02, 2015, 09:38:52 PM

There are only 170,000 tonnes of gold in the world. Is that a fatal flaw in gold since it is not possible to own 1 tonne per person?

Scarcity exists. It will always exist. Picking any unit and saying "There aren't enough of these for everyone to have one" is arbitrary.

Bitcoin is fungible to eight places and even after that can be patched to support more.

What is the difference between everyone having 1 bitcoin and everyone having .003 bitcoin? Nothing.

but there approximately 6B(35285 in one ton, x170k) of ounce, which about the same as the numbers of people in the world minus 1B

you need to compare gram to satoshi and you are on the same boat, but with a much lower number for gold

I don't think you understand - the dollar value or any artificial value is meaningless - all that matters is what can be purchased with it (i.e. real purchasing power). Compare USD and Yen - Yen is roughly a factor of 100 times larger in terms of unitary size, but any meaningful conversion realises that this difference is irrelevant. Given that we can have smaller units than a satoshi if needs be - it matters not what the supply limit is.

i was just arguing that gold is not rare, and the "rare" factor does not matter at all, when you want to talk about adoption and about divisible numbers

bitcoin is not rare also, it's all about divisibility, if you take into account 1 satoshi as the main divisors, there are plenty for eveyrone, bears in mind that i'm not against what he have said, just pointing out a thing