Post
Topic
Board Bitcoin Discussion
Re: When the majority decides to change the rules
by
jgarzik
on 22/03/2011, 20:31:52 UTC
I just can't see bitcoin taking off in a big way, when it is capped at 21 million. Imagine 21 million divided between the facebook population (lets leave country and nationality out of it) 500 million or half a billion users . That's not a lot of bitcoins to go round, it won't buy you a lot.

This is a FAQ (or "FMC", frequently misunderstood concept?).

1) Bitcoins can be divided into millionths of a bitcoin, leaving plenty for everyone on Earth.

2) "it won't buy you a lot"  There is no economic reason why 0.000001 BTC cannot be worth $1,000 USD.  It is entirely supply and demand.

Where you place the decimal is completely irrelevant.