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Replying to Avatar jb55

Another reason accounting in bits might be a good mental model:

Assuming 4-5 million bitcoin lost against the current supply: this gives about 14 million spendable btc. Market cap of gold is 13 trillion. 13 trillion / 14 million is about 930k (lets say approximately 1 million).

Therefore if bitcoin is as valuable as gold (reasonable exchange pricing method?) then 1 bit is a good mental substitute for $1, 1 sat is a cent.

Who knows, maybe bitcoin will never be as valuable as gold, but it’s hard to see how that would be the case. It should be worth more given the fact its *unconfiscatable, teleportable, mathematically scarce programmable money in cyberspace enforced by the laws of physics* but what do i know.

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paulo 2y ago

Sorry Will, it’s sats. It won.

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jb55 2y ago

I’m fine with that for pricing things but i personally do accounting and lightning stuff in bits

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