Topic: When there are 2,100 trillion Satoshis why the talk of scarcity? - page 2. (Read 307 times)
October 04, 2018, 09:58:18 PM
Currently, there are about 21 million Bitcoins and only over two-thirds of them are making the distribution to the community. However, most people don't take into consideration that these Bitcoins have been lost or intentionally canceled. In addition, there are also a large number of coins that aren't currently in use but may still be available in the future... Satoshi stash, for example, has kept large amounts of money for years and it is the largest amount of BTC owned by an individual. People think that these coins will never be spent, but in reality, Satoshi can use them at any time. Only with 21 million available Bitcoins, many believe that its scarcity and Another aspect that promises to bring about the potential for deflation. There aren't comprehensive statistics on how many Bitcoins are standing or losing forever. This can be accepted and pleasing as it just adds further speculation on the concept of scarcity.
October 04, 2018, 09:32:29 PM
This is the one thing I don't quite understand about the talk of Bitcoin's "scarcity value". Sure, "21 million coins only" does give the impression of scarcity prima facie. But then, each coin is divisible to the tune of one hundred million Satoshis. While currently, there's no way to transact a single Satoshi without paying significantly more transaction fees, if 1 BTC reaches US$ 200K as some analysts speculate, then even that won't remain a miniscule transaction anymore.
Thus, in effect, rather than there being 21 million Bitcoins in circulation, the effective value would qualify as: there being 2,100 trillion Satoshis in circulation. This is way beyond the wildest, furthest estimates of total global money supply.
Why then the talk about Bitcoin being in scarce supply?
Thus, in effect, rather than there being 21 million Bitcoins in circulation, the effective value would qualify as: there being 2,100 trillion Satoshis in circulation. This is way beyond the wildest, furthest estimates of total global money supply.
Why then the talk about Bitcoin being in scarce supply?
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