nobody can interact with it in any way and there's no key for it,
but it "exists" because its mathematically defined and the screen told me so
hot take maybe:
but the mathematical definition of a thing
is not the thing itself 😱
Discussion
It is unless you change it. Then it's 💩
So the gold that hasn't been mined, doesn't exist yet?
the gold that hasnt been mined isnt a mathematical abstraction
you're claiming a mathematical definition is the thing itself.
If Bitcoin is just an abstraction, send me one for free.
sigh
we are discussing whether Bitcoin that hasnt been mined yet is existent or not.
your comment is not relevant to that conversation.
Just because it's not circulating yet does not mean it does not exist. We don't have to guess what the future supply is. It's defined.
those statements have no logical correlation.
I'm aware the supply is defined.
that doesn't demonstrate that unmined Bitcoin is existent.
in what *way does it exist?
except as a mathematical abstraction as code?
I don't know how to explain it any clearer.
tbh I think it's a pedantic conversation.
the actionable thing that actually *effects peoples lives*
is that it is not circulating.
until it is mined.
and then it enters circulation.
and the available supply inflates.
frankly
"mining just distributes already existent supply"
just sounds like cope to avoid dealing with the basic fact that Bitcoin supply inflation exists.
this is the stupidiest debate thread i ever seen
and thats the voice of experience ðŸ¤
It also "deflates" when people lose coins. That doesn't mean Bitcoin is deflating. The supply dues not change. That means fixed. Ie not inflation or deflation. Issuance and supply is defined. New supply does nothing to the value of a sat. 1 BTC = 1 BTC
coins going out of circulation absolutely means supply deflates.
that is the definition of supply deflation.
what advantage does living according to an abstraction provide?
1 BTC = 1 BTC is not an abstraction.
that is an axiom that has nothing to do with the conversation.
a BTC equalling another BTC has nothing to do with supply inflation or deflation (and its highly debatable BTC is *more equal other units than any other money).
your thesis is a dogmatic argument based on abstractions that have nothing to do with how people actually experience reality.
just "look at the holy code, it is written and therefore real"
which is fine, youre entitled to your viewpoint and way of living life.
but thats what it is.
Yes... It does. That's what you're not getting. "Fixed" is a third state. It's not inflating, not deflating. The statement of 1=1 just demonstrates the supply does not change. It doesn't matter how many are circulating/not circulating. Coins only circulate when people use them to buy stuff. If I have a coin, I own 1/21,000,000 of supply. Now and forever. If you own 1XMR now how much of the percentage of XMR supply do you own in 115 years? Your holdings dilute, mine do not. I can't argue anymore. It's basic math and econ. You're missing the forest for the trees.