โ€œ๐˜ฝ๐™ž๐™ฉ๐™˜๐™ค๐™ž๐™ฃ ๐™ž๐™จ๐™ฃโ€™๐™ฉ ๐™จ๐™˜๐™–๐™ง๐™˜๐™š ๐™—๐™š๐™˜๐™–๐™ช๐™จ๐™š ๐™ž๐™ฉ ๐™˜๐™–๐™ฃ ๐™—๐™š ๐™™๐™ž๐™ซ๐™ž๐™™๐™š๐™™ ๐™›๐™ค๐™ง๐™š๐™ซ๐™š๐™ง ๐™ค๐™ฃ ๐™จ๐™š๐™˜๐™ค๐™ฃ๐™™ ๐™ก๐™–๐™ฎ๐™š๐™ง๐™จ.โ€

As nonsensical as this FUD is, it keeps resurfacing from so-called โ€œintellectualsโ€.

If it were true, then ๐—ถ๐˜ ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ฎ๐—ฝ๐—ฝ๐—น๐˜† ๐˜๐—ผ ๐—ผ๐˜๐—ต๐—ฒ๐—ฟ ๐˜๐—ต๐—ถ๐—ป๐—ด๐˜€ ๐˜๐—ต๐—ฎ๐˜ ๐—ฐ๐—ฎ๐—ป ๐—ฏ๐—ฒ ๐—ฑ๐—ถ๐˜ƒ๐—ถ๐—ฑ๐—ฒ๐—ฑ ๐—ถ๐—ป๐˜๐—ผ ๐˜€๐—บ๐—ฎ๐—น๐—น๐—ฒ๐—ฟ ๐—ฝ๐—ถ๐—ฒ๐—ฐ๐—ฒ๐˜€, like pizza, and we could solve world hunger!

Sadly, this argument isnโ€™t enough for some people. They think so ๐˜ค๐˜ฐ๐˜ฏ๐˜ค๐˜ฆ๐˜ฑ๐˜ต๐˜ถ๐˜ข๐˜ญ๐˜ญ๐˜บ that they forget to apply these things ๐˜ฑ๐˜ณ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ค๐˜ข๐˜ญ๐˜ญ๐˜บ.

The following explanation is for them.๐Ÿ‘‡

Bitcoin's scarcity is defined by its fixed supply of exactly 2,099,999,997,690,000 sats, ๐˜ฏ๐˜ฐ๐˜ต ๐˜ฃ๐˜บ ๐˜ฉ๐˜ฐ๐˜ธ ๐˜ช๐˜ต'๐˜ด ๐˜ฅ๐˜ช๐˜ท๐˜ช๐˜ฅ๐˜ฆ๐˜ฅ. Dividing sats into smaller units doesn't increase their total number any more than splitting a gold bar into smaller pieces creates more gold.

๐— ๐—ฎ๐˜๐—ต๐—ฒ๐—บ๐—ฎ๐˜๐—ถ๐—ฐ๐—ฎ๐—น๐—น๐˜†, ๐˜๐—ต๐—ฒ ๐˜๐—ผ๐˜๐—ฎ๐—น ๐—พ๐˜‚๐—ฎ๐—ป๐˜๐—ถ๐˜๐˜† ๐—ผ๐—ณ ๐—ฏ๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฟ๐—ฒ๐—บ๐—ฎ๐—ถ๐—ป๐˜€ ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ฎ๐—ป๐˜, regardless of division in second layers. 2,099,999,997,690,000 sats are equal to 2,099,999,997,690,000,000 millisats, 2,099,999,997,690,000,000,000 microsats, and 2,099,999,997,690,000,000,000,000 nanosats. Each number may appear bigger than the last, but their denominations are proportionally smaller, which means theyโ€™re truly equal in amount.

Thus, bitcoin maintains its value and scarcity, regardless of how it's divided or used on second layers. Its fixed supply is a core feature, unaffected by transactional divisions.

Give this a ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™, and ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ this with anyone who still spreads this FUD.

Someone will certainly bring this up again, so be sure to ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– this for when they do!

How would ๐˜บ๐˜ฐ๐˜ถ respond to this FUD?

Let me know in the ๐—–๐—ผ๐—บ๐—บ๐—ฒ๐—ป๐˜๐˜€โฌ‡๏ธ

Fractional reserve banking has ruined peoples understanding of real money.

Thatโ€™s where their argument is rooted IMO. If ETFโ€™s or banks start offering fractionally reserved BTC then maybe the argument holds water๐Ÿคท๐Ÿปโ€โ™‚๏ธ๐Ÿคท๐Ÿปโ€โ™‚๏ธ๐Ÿคท๐Ÿปโ€โ™‚๏ธ

At least in the short term until things start exploding, as is always the case in bad money.

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Discussion

The beauty of bitcoin is that it can be easily self-custodied, making ETFs and banks unnecessary. And when anyone does prefer to have a bank or other institution hold their bitcoin, the institution will only ever be able to offer bitcoin IOUs, which have an unlimited supply, and not real bitcoin, which is perfectly scarce.

So even in that situation, the amount of real bitcoin is fixed at 20,999,999.9769, and will never be a single sat more.

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Yup. ๐Ÿคwe are in full agreement. Iโ€™m just trying to figure out why these โ€œintellectual idiotsโ€ donโ€™t understand the true & verifiable scarcity of BTC.