Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.
Right. And when there is only one bitcoin left in the whole world, with a tiny change in the program, a satoshican be divided into billions of tinier pieces. Fiat does this through inflation.
WRONG
That does no cause inflation. People will have the same amount of Bitcoin just with more decimals
GO BACK TO SCHOOL WITH KHAOS
You Know, Just because you use large fonts with red , does not make what you say truthful,
just means you are a stupid loud SOB!
OK, Class is in session , Pay attention Dumbass aka patroncito
Bitcoin has a set program code limit to the left of the decimal point, so 21 million is supposed to be the limit.
And that would be correct except for the following
In the Real World, the more you divide a material, the less value it has,
IE: Gas
Buying a gallon of Gas will take you ~25 miles in your car.
Buying a .00000001 gallon of gas , probably won't even be enough to get the gas out of the pump into your car's tank.
So .00000001 gallon of gas has no value and no practical use in the real world and no one would ever buy an amount that small.
In the Virtual World where Bitcoin Exists,
There is no such limitation of value loss by division
With Bitcoin , You can send 10 bitcoin , 1 bitcoin, ¼ bitcoin ,or .00000001 bitcoin to another address, and that is it.
It holds no other value. Only the value assigned by spectaculars against fiat.
So if Bitcoin was limited to it's lowest denomination of
1 bitcoin then the max bitcoin supply would be only 21 million
But there is no limit defined on the lowest denomination
1 Bitcoin = a Max SUPPLY of 21 Million
½ Bitcoin = a Max SUPPLY of 42 Million
¼ Bitcoin = a Max SUPPLY of 84 Million
.00000001 Bitcoin = a Max SUPPLY of 2.1 QUADRILLION
So they are inflating to right side of the decimal point so stupid people like patroncito don't understand how they inflate the supply at a whim. Lightning Network is moving to 12 points below the decimal, inflating the offchain supply even further.
If there is never a limit placed on the right side of the decimal point, then Bitcoin has an unlimited inflation model bordering on insanity.
But they are counting on stupid people not to understand that.
So now you can see BADecker was correct in his earlier assertion:
Right. And when there is only one bitcoin left in the whole world, with a tiny change in the program, a satoshican be divided into billions of tinier pieces. Fiat does this through inflation.
Class Dismissed.
Too much gargabe in one single post from a faggy SOB.
Lets post something relevant.
https://cryptoslate.com/deutsche-bank-crypto-could-replace-fiat-and-soar-by-2030/
Just because you take it up the arse, does not mean others follow suit.
All that large red print is compensating for your tiny tiny gay pee pee.
In really relevant news.
https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value
Quote
This is a contributed post by Bill Harris, former CEO of Intuit and founding CEO of PayPal and Personal Capital.
Im tired of saying, Be careful, its speculative. Then, Be careful, its gambling. Then, Be careful, its a bubble.
Okay, Ill say it: Bitcoin is a scam.
In my opinion, its a colossal pump-and-dump scheme, the likes of which the world has never seen.
In a pump-and-dump game, promoters pump up the price of a security creating a speculative frenzy, then dump some of their holdings at artificially high prices.
The losers are ill-informed buyers caught up in the spiral of greed.
The result is a massive transfer of wealth from ordinary families to internet promoters.
And massive is a massive understatement 1,500 different cryptocurrencies now register over $300 billion of value.
It helps to understand that a bitcoin has no value at all.
Promoters claim cryptocurrency is valuable as (1) a means of payment, (2) a store of value and/or (3) a thing in itself.
None of these claims are true.
1. Means of Payment.
Bitcoins are accepted almost nowhere, and some cryptocurrencies nowhere at all.
Even where accepted, a currency whose value can swing 10 percent or more in a single day is useless as a means of payment.
2. Store of Value.
Extreme price volatility also makes bitcoin undesirable as a store of value.
And the storehouses the cryptocurrency trading exchanges are far less reliable and trustworthy than ordinary banks and brokers.
3. Thing in Itself.
A bitcoin has no intrinsic value. It only has value if people think other people will buy it for a higher price the Greater Fool theory.
Im tired of saying, Be careful, its speculative. Then, Be careful, its gambling. Then, Be careful, its a bubble.
Okay, Ill say it: Bitcoin is a scam.
In my opinion, its a colossal pump-and-dump scheme, the likes of which the world has never seen.
In a pump-and-dump game, promoters pump up the price of a security creating a speculative frenzy, then dump some of their holdings at artificially high prices.
The losers are ill-informed buyers caught up in the spiral of greed.
The result is a massive transfer of wealth from ordinary families to internet promoters.
And massive is a massive understatement 1,500 different cryptocurrencies now register over $300 billion of value.
It helps to understand that a bitcoin has no value at all.
Promoters claim cryptocurrency is valuable as (1) a means of payment, (2) a store of value and/or (3) a thing in itself.
None of these claims are true.
1. Means of Payment.
Bitcoins are accepted almost nowhere, and some cryptocurrencies nowhere at all.
Even where accepted, a currency whose value can swing 10 percent or more in a single day is useless as a means of payment.
2. Store of Value.
Extreme price volatility also makes bitcoin undesirable as a store of value.
And the storehouses the cryptocurrency trading exchanges are far less reliable and trustworthy than ordinary banks and brokers.
3. Thing in Itself.
A bitcoin has no intrinsic value. It only has value if people think other people will buy it for a higher price the Greater Fool theory.
No Greater Fools left, which is why the price only stagnates and drops.