Quote from: pixie85 on October 24, 2019, 07:02:53 PM

Quote from: Khaos77 on October 24, 2019, 12:16:42 AM

Quote from: erricducducan26 on October 23, 2019, 08:46:20 PM

1. Bitcoins Scarcity Will Lead to a Price Surge

Dude ,

The bitcoin scarcity scam is a myth.

They say their are only 21 million bitcoin to be made.

But that is only true if the smallest denomination is 1 bitcoin.

It is not , the current smallest denomination is .00000001 ,

which means the bitcoin supply is not 21000000 as they told you,

the actual bitcoin supply is 2100000000000000, comes out to 2.1 QUADRILLION.
Not a limited supply at all.

The real scam is they can inflate the supply by going to the right side of the decimal instead of the left.
* The Scam network LN, already goes to 12 places below zero, so they are even worse.*

FYI:
McAfee is a NutJob.

But this can be done to any currency. What's there to even call a scam? A dollar can be broken into cents and a piece of gold can be divided into grains of dust weighing micrograms. Only a total lunatic would call divisibility a scam.
There are 21 million mined bitcoins out of which at least 10% is lost. A bitcoin can be divided into satoshis and the number of zeroes helps in microtransactions. If Bitcoin ever goes to 100 thousand dollars it will be impossible to pay without using this feature.

I don't like McAfee but when Bitcoin went from 1 dollar to 8 dollars people were dreaming of it being worth 100 dollars one day and when it reached 100 they started dreaming about 1000. It's normal to think big but for me big is 50 thousand. For him it can be a million or two.

No it can't be done with any currency in the physical world.
Only computers can do it in the virtual world.

No physical coinage below a penny is available in US $,
because the price to make a physical representation costs more than a penny.
So the physical reality acts as a limiter.
Which is why they can only inflate on the left side of the decimal point in the physical world.
Which is apparent to all.

In the virtual world , no such limiter is on bitcoin,
so they can inflate supply on the right side of the decimal point with no physical factor limiting how far they can move to the right.
Thus they can massively inflate the supply, while pretending it is limited supply, when that is completely false.
1 bitcoin as the lowest denomination makes a 21 million bitcoin supply
½ bitcoin as the lowest denomination makes a 42 million bitcoin supply
.00000001 bitcoin as the lowest denomination makes a 2.4 Quadrillion bitcoin supply

They are making fools of everyone that thinks the bitcoin supply is limited to 21 million,
their is no scarcity when they inflate to right side of the decimal point in a virtual environment.
Worst with no physical limiting factor , their is no limit to bitcoin's inflation.