BitCoin

markj113

eskbanker wrote: »

How would changing the number of decimal places increase the number before the decimal point?

That sounds like similar numeracy logic to the (possibly apocryphal) tale of the less-than-intelligent footballer wanting a pizza cut into six slices rather than eight as he wasn't hungry enough to manage eight....

My point is there is a hard limit of 21 million bitcoin but there are currently 8 decimal places so a total of 2100000000000000 satoshi.


You can increase practical use supply by adding another decimal place, all hinges on what buying power each decimal point holds

HappyHarry

markj113 wrote: »

My point is there is a hard limit of 21 million bitcoin but there are currently 8 decimal places so a total of 2100000000000000 satoshi.


You can increase practical use supply by adding another decimal place, all hinges on what buying power each decimal point holds

Traditionally, each decimal point has the purchasing power of ten times the following decimal point, and one tenth the puchasing power of the preceeding decimal point.


I undertand your point that bitcoin may be nearly infinitely divisible, but I'm not sure you understand mine.

If a new car is selling for 1,000.00 satoshi today, and 750.00000000 satoshi next year, very few cars are going to be sold today, regardless of how many decimal points there are.

ExremelyCautiousSocialist

I get the point, its defo a legit concern as regards using it as a currency.

Jorasosedu

I was always curious about that as well and did find some trustable websites, but you better search by yourself and create your own crypto wallet.

TBC15

Strange resurrection 1st time poster.