some of our best economic minds are literally going to tell you the fact you can keep dividing it means it's not scarce!.. 😂 😂
Discussion
haha, those people need to read Human Action, he lays out a very clear case that subdividing is the natural consequence of ECONOMIC GROWTH not a change in scarcity
to be fair if they legit think this, then no amount of reading is gonna help them 😀
i fucking love that this is something people with "reputations" actually say. The plebs are definitely gonna win!
they won't even pick up the book, and it's not an easy read, 900 pages in the bible paper compact edition, took me 2 months each time i read it, in my commutes in the morning back in 2010
but the simple fact that even lightning already has a protocol based 1000 subdivision says a lot already at this point, when you consider that the price has traced an arc over 1000 rise, 10x each 4 years, we are now moving into the 4th such cycle, which will probably mean that the pressure to amend the protocol denomination is going to get pretty strong... when we see 100 sats per USD, probably in ~8 years time, it will be obvious it needs to be increased
mm but the point is, surely, whatever unit you use to measure the amount of bitcoin that will ever be in circulation, it is invariant
it is... this is what deflation means... it means that the money is worth more compared to the commodities on the market, it can happen that the smallest unit becomes too big for a common size of transaction, and for this case, a new, smaller subdivision needs to be made
it doesn't mean the supply has increased, it means the market has increased in volume