Post
Topic
Board Speculation
Re: Bitcoin's 'limted' supply lie
by
ProfMac
on 30/11/2013, 05:20:42 UTC

Saying that there can only ever be 21 million Bitcoins is an empty scarcity argument, because the actual value of a Bitcoin is not yet settled by the market.

The 21 million is limited by the mining software.  The USD / BTC exchange rate is not relevant to this.


Well, it is. The more value that accrues to a Bitcoin the greater the demand for subunits to fractionalise value.


The number of fractional sub-units is also defined.  The minimum unit is 1 Satoshi.  There are 2,100,000,000,000,000 of them.