[ExI] What happens when Bitcoin goes to a million bucks?

Eugen Leitl eugen at leitl.org
Thu Nov 7 14:58:02 UTC 2013


On Thu, Nov 07, 2013 at 09:38:58AM -0500, Rafal Smigrodzki wrote:
> On 11/7/13, Omar Rahman <rahmans at me.com> wrote:
> 
> > The main problem with bitcoin is precisely this: it is impossible for
> > everyone to have a bitcoin. The system was designed with an upper limit of
> > 21 million coins available. The anonymous people behind bitcoin have
> > designed this as a 'boutique' currency  for test purposes I think. The 21
> > million upper limit automatically places it out of contention to be a
> > general means of exchange. Hmm....unless we want to get into 'virtual'
> > bitcoins. ;)
> 
> ### Omar, you think the limit on the number of bitcoins puts it "out
> of contention to be a general means of exchange"? Lol.

Psst. Nobody tell him that the current limit (1/100000000) is a satoshi, and it's
not a fundamental limit.



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