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One thing is to understand bitcoin. Another completely to say what he is saying.
He is an idiot. | r/bitcoin | One thing is to understand bitcoin. Another completely to say what he is saying.
He is an idiot. | r/Bitcoin | 2024-21-05 |
You do you.
But I believe approaching these people with patience, understanding and compassion would be the better way for Bitcoin. | r/bitcoin | You do you.
But I believe approaching these people with patience, understanding and compassion would be the better way for Bitcoin. | r/Bitcoin | 2024-21-05 |
Bitcoin is NOT infinitely divisible. There are only 21M whole bitcoins and each one is divisible by 100M satoshis, that is all there will ever be. Bitcoin is backed by the energy and support of every computer on the largest, strongest computer network in human history. It is backed by math, science and the law of code (that anyone with the ability to, can audit and verify down to each line), NOT the whim of a few self appointed overseers. Gold is valuable because everyone understands the energy and difficulty needed to produce it. The same with most hard assets and Bitcoin follows the same proof of work ethic: The only way to unlock it, is to work HARD for it. That alone makes it infinitely easier to understand than FIAT monetary policy where the manufacture and distribution is a month to month mystery with absolutely no standards or predictability. FIAT money has value because the government deems it so (Fiat = by decree) and they have the rule of violence that allows them to cage or kill you if you do not comply with the forced use of their debt-based currency. | r/bitcoin | Bitcoin is NOT infinitely divisible. There are only 21M whole bitcoins and each one is divisible by 100M satoshis, that is all there will ever be. Bitcoin is backed by the energy and support of every computer on the largest, strongest computer network in human history. It is backed by math, science and the law of code (that anyone with the ability to, can audit and verify down to each line), NOT the whim of a few self appointed overseers. Gold is valuable because everyone understands the energy and difficulty needed to produce it. The same with most hard assets and Bitcoin follows the same proof of work ethic: The only way to unlock it, is to work HARD for it. That alone makes it infinitely easier to understand than FIAT monetary policy where the manufacture and distribution is a month to month mystery with absolutely no standards or predictability. FIAT money has value because the government deems it so (Fiat = by decree) and they have the rule of violence that allows them to cage or kill you if you do not comply with the forced use of their debt-based currency. | r/Bitcoin | 2024-21-05 |
Don't even try, let him get poorer, he will learn eventually without making you trouble :) | r/bitcoin | Don't even try, let him get poorer, he will learn eventually without making you trouble :) | r/Bitcoin | 2024-21-05 |
p.s. He should be old enough to remember before the internet and how people said "it's not real, no one will ever shop, or watch movies or do anything of importance online...people will always want to touch it and hold it and smell it first...and who is gonna trust some faceless website with their money...ONLINE!?" | r/bitcoin | p.s. He should be old enough to remember before the internet and how people said "it's not real, no one will ever shop, or watch movies or do anything of importance online...people will always want to touch it and hold it and smell it first...and who is gonna trust some faceless website with their money...ONLINE!?" | r/Bitcoin | 2024-21-05 |
... and Bitcoin mining is backed by more-less the same amount of terawatt-hours of input energy per year as gold mining. | r/bitcoin | ... and Bitcoin mining is backed by more-less the same amount of terawatt-hours of input energy per year as gold mining. | r/Bitcoin | 2024-21-05 |
This is a great resource. | r/bitcoin | This is a great resource. | r/Bitcoin | 2024-21-05 |
When and if that time comes you will be very old, very rich and he'll be brown bread.⚰️ | r/bitcoin | When and if that time comes you will be very old, very rich and he'll be brown bread.⚰️ | r/Bitcoin | 2024-21-05 |
You should ask him what the dollar be lives and dies by is backed by?
Wrong answers only. | r/bitcoin | You should ask him what the dollar be lives and dies by is backed by?
Wrong answers only. | r/Bitcoin | 2024-21-05 |
Two blind talking about colours | r/bitcoin | Two blind talking about colours | r/Bitcoin | 2024-21-05 |
I love that you went all the way down to atoms. LMAO! It's time to hit the quantum lvl! | r/bitcoin | I love that you went all the way down to atoms. LMAO! It's time to hit the quantum lvl! | r/Bitcoin | 2024-21-05 |
1 Dollar divided in cent or micro cents or femto cents is still 1 Dollar. you don't become a millionaire by dividing it into million pieces. He should desperately doing some math studies. | r/bitcoin | 1 Dollar divided in cent or micro cents or femto cents is still 1 Dollar. you don't become a millionaire by dividing it into million pieces. He should desperately doing some math studies. | r/Bitcoin | 2024-21-05 |
> My girlfriends dad is insistent that by Bitcoin being infinitely divisible, it's no different than how they print more and more dollars.
I just can't believe how often this comes up, I can't understand how anybody could be that dumb. | r/bitcoin | > My girlfriends dad is insistent that by Bitcoin being infinitely divisible, it's no different than how they print more and more dollars.
I just can't believe how often this comes up, I can't understand how anybody could be that dumb. | r/Bitcoin | 2024-21-05 |
> Bitcoin is NOT infinitely divisible.
Absolutely it is. On the second layer, it is possible to subdivide satoshis. Also it would be possible to implement this on the base layer, although that will never be necessary. | r/bitcoin | > Bitcoin is NOT infinitely divisible.
Absolutely it is. On the second layer, it is possible to subdivide satoshis. Also it would be possible to implement this on the base layer, although that will never be necessary. | r/Bitcoin | 2024-21-05 |
1) Divisible - many have already provided the pizza analogy.
2) Bitcoin is already expensive such that many people cannot afford a whole coin. But it’s divisible so you can buy a fraction. The fact that it’s divisible doesn’t change the total ownership. If you own one btc you own 1/21m of total supply. That’s the same as 10/210m or 100/2.1bn so on.
3) it has no use - ask any refugee how much they would pay to have the privilege of memorising their wealth and flee their war torn country. Bitcoin has plenty of uses, perhaps less so in developed countries. But since it’s a global money, its uses in Africa would drive price up in the States just the same.
4) not backed by anything - he needs to understand money. It’s tricky. I bet most of us didn’t understand it until bitcoin came along. The question to ask is: gold has been the hardest money for thousands of years, what backed gold? It’s not any gov or entity or legislation that’s for sure. It’s a certain set of qualities that makes gold a good money. Now bitcoin beats gold on almost every one of those qualities.
5) it’s not real - I assume he means it’s not tangible. You can’t hold it in hand or touch it and feel it like a coin. Tell him it is the digital era now, many things we use everyday are no longer physical and tangible. When was the last time he bought a physical street map? A real photo album in a book format? When was the last time he developed a roll of film and print the pictures out? Most people no longer do these things and instead it’s the digital version of these things took place. The same will happen to money. It already has. Vast majority of our US dollars, Euro, yen etc is already digital. They aren’t tangible. Bitcoin is just taking one step further removing the human decision and corruption - a better money than any money we know of. | r/bitcoin | 1) Divisible - many have already provided the pizza analogy.
2) Bitcoin is already expensive such that many people cannot afford a whole coin. But it’s divisible so you can buy a fraction. The fact that it’s divisible doesn’t change the total ownership. If you own one btc you own 1/21m of total supply. That’s the same as 10/210m or 100/2.1bn so on.
3) it has no use - ask any refugee how much they would pay to have the privilege of memorising their wealth and flee their war torn country. Bitcoin has plenty of uses, perhaps less so in developed countries. But since it’s a global money, its uses in Africa would drive price up in the States just the same.
4) not backed by anything - he needs to understand money. It’s tricky. I bet most of us didn’t understand it until bitcoin came along. The question to ask is: gold has been the hardest money for thousands of years, what backed gold? It’s not any gov or entity or legislation that’s for sure. It’s a certain set of qualities that makes gold a good money. Now bitcoin beats gold on almost every one of those qualities.
5) it’s not real - I assume he means it’s not tangible. You can’t hold it in hand or touch it and feel it like a coin. Tell him it is the digital era now, many things we use everyday are no longer physical and tangible. When was the last time he bought a physical street map? A real photo album in a book format? When was the last time he developed a roll of film and print the pictures out? Most people no longer do these things and instead it’s the digital version of these things took place. The same will happen to money. It already has. Vast majority of our US dollars, Euro, yen etc is already digital. They aren’t tangible. Bitcoin is just taking one step further removing the human decision and corruption - a better money than any money we know of. | r/Bitcoin | 2024-21-05 |
What would a loaf of bread cost at that point? Likely thousands of dollars, but the value of those dollars will have diminished so much that $10k is no longer 'a lot of money'. It's not really a scenario we want, but on a long enough timeline, it's inevitable as long as inflationary fiat remains the norm. More likely the dollar would be replaced or 'reset' prior to that and we would no longer be interested in bitcoin's price vs. the (legacy) dollar. | r/bitcoin | What would a loaf of bread cost at that point? Likely thousands of dollars, but the value of those dollars will have diminished so much that $10k is no longer 'a lot of money'. It's not really a scenario we want, but on a long enough timeline, it's inevitable as long as inflationary fiat remains the norm. More likely the dollar would be replaced or 'reset' prior to that and we would no longer be interested in bitcoin's price vs. the (legacy) dollar. | r/Bitcoin | 2024-21-05 |
I love the pizza argument. It has historical connotations as well. | r/bitcoin | I love the pizza argument. It has historical connotations as well. | r/Bitcoin | 2024-21-05 |
Adding smaller denominated coins does not inflate a currency. Imagine the U.S. would introduce 0.1 cent coins. As long as they destroy a $1 bill every time they mint 1000x 0.1 cent coins, it wouldn't add more money to the economy and such a 0.1 cent coin would not have an inflationary effect. | r/bitcoin | Adding smaller denominated coins does not inflate a currency. Imagine the U.S. would introduce 0.1 cent coins. As long as they destroy a $1 bill every time they mint 1000x 0.1 cent coins, it wouldn't add more money to the economy and such a 0.1 cent coin would not have an inflationary effect. | r/Bitcoin | 2024-21-05 |
He dumb, sorry | r/bitcoin | He dumb, sorry | r/Bitcoin | 2024-21-05 |
Btc has a fixed supply, while the dollar does not. This makes btc a deflationary currency and the dollar inflationary. To your non father in laws point, the price of btc can rise to where very small fractions would be needed to buy things. It's already happened. Remember the guy who bought 2 papa John's pizzas for 10,000 btc in 2010? Today those pizzas would cost 0.0003 Btc, while the price in dollars has more than doubled.
But even at today's price or any price, btc will be accessible to the masses since very small amounts will have value. | r/bitcoin | Btc has a fixed supply, while the dollar does not. This makes btc a deflationary currency and the dollar inflationary. To your non father in laws point, the price of btc can rise to where very small fractions would be needed to buy things. It's already happened. Remember the guy who bought 2 papa John's pizzas for 10,000 btc in 2010? Today those pizzas would cost 0.0003 Btc, while the price in dollars has more than doubled.
But even at today's price or any price, btc will be accessible to the masses since very small amounts will have value. | r/Bitcoin | 2024-21-05 |
Especially this week!! 14yr anniversary | r/bitcoin | Especially this week!! 14yr anniversary | r/Bitcoin | 2024-21-05 |
Have you seen that newly invented slice for a sandwich though? Def looks like more sandwich. | r/bitcoin | Have you seen that newly invented slice for a sandwich though? Def looks like more sandwich. | r/Bitcoin | 2024-21-05 |
It's his father in make-believe. | r/bitcoin | It's his father in make-believe. | r/Bitcoin | 2024-21-05 |
and Fiat currency is backed by? | r/bitcoin | and Fiat currency is backed by? | r/Bitcoin | 2024-21-05 |
Stop debating and do what you think is right. | r/bitcoin | Stop debating and do what you think is right. | r/Bitcoin | 2024-21-05 |
When 1 satoshi = 1 dollar, the market cap of Bitcoin will be $2.1 quadrillion. Or even if 1 sat = 1 cent, but we all know that a cent is worthless and becoming more worthless by the day, that's an equivalent total supply of $21Trillion.
Let's be honest here... we ain't runnin' out of units.
Regarding that it isn't backed by anything, I don't think it is easy to fight this one because they'll say "gold is physical" and "the dollar is backed by the might of the US government".
These are not sensical arguments, they are regurgitated nonsense. Nothing is backed. In fact the dollar USED to be backed by gold which means it was just waiting to get rugged, being backed by something means it is a promissory note and promises are always worthless until you redeem them. Even if you have done it 100 times before, each new note is still a promise.
Bitcoin has never been backed by anything, it is the money.
Most people don't even know what they mean when they say that. Before engaging, be sure to figure out if your father in law is being out right dismissive. If he is playing fair, ask what being backed means and why it is important.
My guess is it is all about the double spend problem. Who or what ensures that no random guy on the street can print more for nothing?
So then maybe it feels scarier if someone else does it, but since we have appointed the Government as in charge, it is okay if they do it? Why? They'll print trillions in a year, why is that good at all? Because they do it for us? Do they though?
Would a medium that cannot be inflated or debased really be that bad? Could it be that we have been brainwashed by the people that benefit from the reallocation of wealth as inflation occurs, that inflation is good for us when it is really just good for them?
Did you know that when people say that a deflationary system would be a disaster in a debt based economy, they are explaining that every cent in existence is DEBT?!?!
I mean, our money is worse than fairground tickets.
Check out my article that tries to explain and compare bitcoin as a candidate for money as a medium: https://habla.news/a/naddr1qvzqqqr4gupzqrvhh6h9vl7we8r9wncudmmpym4fd82fjtp3nrj3crav2tzjwjs5qqxnzde3xcer2v3jxgursvfnljtn30 | r/bitcoin | When 1 satoshi = 1 dollar, the market cap of Bitcoin will be $2.1 quadrillion. Or even if 1 sat = 1 cent, but we all know that a cent is worthless and becoming more worthless by the day, that's an equivalent total supply of $21Trillion.
Let's be honest here... we ain't runnin' out of units.
Regarding that it isn't backed by anything, I don't think it is easy to fight this one because they'll say "gold is physical" and "the dollar is backed by the might of the US government".
These are not sensical arguments, they are regurgitated nonsense. Nothing is backed. In fact the dollar USED to be backed by gold which means it was just waiting to get rugged, being backed by something means it is a promissory note and promises are always worthless until you redeem them. Even if you have done it 100 times before, each new note is still a promise.
Bitcoin has never been backed by anything, it is the money.
Most people don't even know what they mean when they say that. Before engaging, be sure to figure out if your father in law is being out right dismissive. If he is playing fair, ask what being backed means and why it is important.
My guess is it is all about the double spend problem. Who or what ensures that no random guy on the street can print more for nothing?
So then maybe it feels scarier if someone else does it, but since we have appointed the Government as in charge, it is okay if they do it? Why? They'll print trillions in a year, why is that good at all? Because they do it for us? Do they though?
Would a medium that cannot be inflated or debased really be that bad? Could it be that we have been brainwashed by the people that benefit from the reallocation of wealth as inflation occurs, that inflation is good for us when it is really just good for them?
Did you know that when people say that a deflationary system would be a disaster in a debt based economy, they are explaining that every cent in existence is DEBT?!?!
I mean, our money is worse than fairground tickets.
Check out my article that tries to explain and compare bitcoin as a candidate for money as a medium: https://habla.news/a/naddr1qvzqqqr4gupzqrvhh6h9vl7we8r9wncudmmpym4fd82fjtp3nrj3crav2tzjwjs5qqxnzde3xcer2v3jxgursvfnljtn30 | r/Bitcoin | 2024-21-05 |
Smaller units of currency falls away when they become useless.
There used to be the half pence in the UK and half cent in the US, these things just don't exist any more.
IF 1 BTC became a trillion, (what? why!? So you can 100x?) Then it is likely that by then the dollar would be worth less than the paper it was printed on and would no longer exist. | r/bitcoin | Smaller units of currency falls away when they become useless.
There used to be the half pence in the UK and half cent in the US, these things just don't exist any more.
IF 1 BTC became a trillion, (what? why!? So you can 100x?) Then it is likely that by then the dollar would be worth less than the paper it was printed on and would no longer exist. | r/Bitcoin | 2024-21-05 |
Dude... what are you doing. Don't debate Bitcoin with your potential father in law. It's not worth it. | r/bitcoin | Dude... what are you doing. Don't debate Bitcoin with your potential father in law. It's not worth it. | r/Bitcoin | 2024-21-05 |
The whole point is to get in as early as you can before it’s recognised in smaller denominations… the earlier you are, the more of the pizza you’ll have at a good price.
The smaller the denominations, the smaller the slice of pizza. | r/bitcoin | The whole point is to get in as early as you can before it’s recognised in smaller denominations… the earlier you are, the more of the pizza you’ll have at a good price.
The smaller the denominations, the smaller the slice of pizza. | r/Bitcoin | 2024-21-05 |
Bitcoin is not infinitely divisible. A satoshi is tiny but...its not zero. | r/bitcoin | Bitcoin is not infinitely divisible. A satoshi is tiny but...its not zero. | r/Bitcoin | 2024-21-05 |
Being infinitely divisible doesn’t diminish the value of Bitcoin whatsoever. Regularly printing fiat, that increases total supply, heavily devalues fiat.
If/when BTC becomes far more valuable in the future, people will just be spending/buying smaller fractions of a whole coin.
What is any fiat backed by nowadays? It hasn’t been backed by gold in many decades.
Every fiat currency in world history has eventually gone to zero, the dollar will eventually.
Sometimes it’s just better to change the subject. I’m not wasting a second of my time trying to convince someone why they should hold some amount of BTC if they are going to resist every point.
I have friends who are anti crypto, some of them regularly set money on fire trying to 10x on penny stocks. They haven’t hit on one yet.
Just tell him to read Fiat Standard. I’d say tell him to read the Bitcoin Standard but it sounds like his mind is made up on Bitcoin. At least could be educated on the history of fiat and where all current fiat is headed. | r/bitcoin | Being infinitely divisible doesn’t diminish the value of Bitcoin whatsoever. Regularly printing fiat, that increases total supply, heavily devalues fiat.
If/when BTC becomes far more valuable in the future, people will just be spending/buying smaller fractions of a whole coin.
What is any fiat backed by nowadays? It hasn’t been backed by gold in many decades.
Every fiat currency in world history has eventually gone to zero, the dollar will eventually.
Sometimes it’s just better to change the subject. I’m not wasting a second of my time trying to convince someone why they should hold some amount of BTC if they are going to resist every point.
I have friends who are anti crypto, some of them regularly set money on fire trying to 10x on penny stocks. They haven’t hit on one yet.
Just tell him to read Fiat Standard. I’d say tell him to read the Bitcoin Standard but it sounds like his mind is made up on Bitcoin. At least could be educated on the history of fiat and where all current fiat is headed. | r/Bitcoin | 2024-21-05 |
This is the only answer needed | r/bitcoin | This is the only answer needed | r/Bitcoin | 2024-21-05 |
There's also pizzagate. | r/bitcoin | There's also pizzagate. | r/Bitcoin | 2024-21-05 |
Sounds like he’s talking about the USD TBH. | r/bitcoin | Sounds like he’s talking about the USD TBH. | r/Bitcoin | 2024-21-05 |
Ask if he prefers pizza or apple pie | r/bitcoin | Ask if he prefers pizza or apple pie | r/Bitcoin | 2024-21-05 |
Just smile and nod and pretend you know nothing about it or better yet, agree with him and say it's all going to end in tears. The fewer people who know you're in to crypto the better.
Otherwise what happens is everyone comes to you for advice, recommendations etc plus they could be fishing for your wallet address & crypto net worth.
I used to be happy to engage in debate about Bitcoin / crypto back in 2013 if someone brought it up but now I just sit back and listen like a silent fly on the wall. | r/bitcoin | Just smile and nod and pretend you know nothing about it or better yet, agree with him and say it's all going to end in tears. The fewer people who know you're in to crypto the better.
Otherwise what happens is everyone comes to you for advice, recommendations etc plus they could be fishing for your wallet address & crypto net worth.
I used to be happy to engage in debate about Bitcoin / crypto back in 2013 if someone brought it up but now I just sit back and listen like a silent fly on the wall. | r/Bitcoin | 2024-21-05 |
A long time ago I decided to stop debating Bitcoin with people.
It's a waste of time. | r/bitcoin | A long time ago I decided to stop debating Bitcoin with people.
It's a waste of time. | r/Bitcoin | 2024-21-05 |
Your girlfriends dad isn’t your father in law. He’s your friend’s dad. | r/bitcoin | Your girlfriends dad isn’t your father in law. He’s your friend’s dad. | r/Bitcoin | 2024-21-05 |
I genuinely don’t understand how divisibility is a point of contention for people. It’s just basic math.
There’s a hard ceiling on supply. It doesn’t matter how much you divide it, the total supply doesn’t change. You will only ever be able to have a certain proportion of the supply, which makes it scarce.
The divisibility actually helps with the ‘what if it becomes so valuable people can’t use it’ argument too, since that’s the point. If 1 BTC is too expensive, use a smaller unit. It really is that simple.
Having a smaller unit of the same thing doesn’t equate to creating more of it. Seriously, I learnt how percentages and decimals work as a child. It shouldn’t be so hard for adults to grasp. | r/bitcoin | I genuinely don’t understand how divisibility is a point of contention for people. It’s just basic math.
There’s a hard ceiling on supply. It doesn’t matter how much you divide it, the total supply doesn’t change. You will only ever be able to have a certain proportion of the supply, which makes it scarce.
The divisibility actually helps with the ‘what if it becomes so valuable people can’t use it’ argument too, since that’s the point. If 1 BTC is too expensive, use a smaller unit. It really is that simple.
Having a smaller unit of the same thing doesn’t equate to creating more of it. Seriously, I learnt how percentages and decimals work as a child. It shouldn’t be so hard for adults to grasp. | r/Bitcoin | 2024-21-05 |
well, it's not infinitely divisible. specifically, one bitcoin can be broken in to one hundred million 'cents'. no more, no less.100,000,000 falls way, way way short of infinity. | r/bitcoin | well, it's not infinitely divisible. specifically, one bitcoin can be broken in to one hundred million 'cents'. no more, no less.100,000,000 falls way, way way short of infinity. | r/Bitcoin | 2024-21-05 |
Do not argue with people about bitcoin. If they don’t want to buy/use it, that’s their choice. | r/bitcoin | Do not argue with people about bitcoin. If they don’t want to buy/use it, that’s their choice. | r/Bitcoin | 2024-21-05 |
Bitcoin only helps rich people gwt richer. Try you to get millonaire with 500$ LOL | r/bitcoin | Bitcoin only helps rich people gwt richer. Try you to get millonaire with 500$ LOL | r/Bitcoin | 2024-21-05 |
Leave him alone about it. You don’t always have to be correct. | r/bitcoin | Leave him alone about it. You don’t always have to be correct. | r/Bitcoin | 2024-21-05 |
The smallest unit is not a consensus rule, it can be changed easily. | r/bitcoin | The smallest unit is not a consensus rule, it can be changed easily. | r/Bitcoin | 2024-21-05 |
By his logic, one pizza can feed the whole world. | r/bitcoin | By his logic, one pizza can feed the whole world. | r/Bitcoin | 2024-21-05 |
Addressing being backed by anything and being real, most countries currency (including the U.S.) is not backed by a physical asset. This probably scares most investors off because there isn't a guarantee by a government, however if a government can't manage it's finances or prove it can stay solvent the currency is only worth what it is minted from. As long as Bitcoin can be converted or traded for goods, it is "real". | r/bitcoin | Addressing being backed by anything and being real, most countries currency (including the U.S.) is not backed by a physical asset. This probably scares most investors off because there isn't a guarantee by a government, however if a government can't manage it's finances or prove it can stay solvent the currency is only worth what it is minted from. As long as Bitcoin can be converted or traded for goods, it is "real". | r/Bitcoin | 2024-21-05 |
equal to one pizza! | r/bitcoin | equal to one pizza! | r/Bitcoin | 2024-21-05 |
[How to Teach Division - A Simple Step by Step Guide | Brighterly](https://brighterly.com/blog/how-to-teach-division/) | r/bitcoin | [How to Teach Division - A Simple Step by Step Guide | Brighterly](https://brighterly.com/blog/how-to-teach-division/) | r/Bitcoin | 2024-22-05 |
I stand corrected. | r/bitcoin | I stand corrected. | r/Bitcoin | 2024-22-05 |
UNPOPULAR OPINION: if BTC gets so expensive people can't afford it, then that's when we know we made it fellas! Haha
But also, people will sell, price will go down. BTC will always settle on the price people will pay for it. | r/bitcoin | UNPOPULAR OPINION: if BTC gets so expensive people can't afford it, then that's when we know we made it fellas! Haha
But also, people will sell, price will go down. BTC will always settle on the price people will pay for it. | r/Bitcoin | 2024-22-05 |
Bitcoin is not infinitely divisible. The lowest unit is .00000001 | r/bitcoin | Bitcoin is not infinitely divisible. The lowest unit is .00000001 | r/Bitcoin | 2024-22-05 |
Old Abe knows his shit.
Dividing bitcoin = smaller pieces of pizza
Printing dollars = more pizzas | r/bitcoin | Old Abe knows his shit.
Dividing bitcoin = smaller pieces of pizza
Printing dollars = more pizzas | r/Bitcoin | 2024-22-05 |
If the dollar crashes, Michael Saylor probably is the richest person in the world. | r/bitcoin | If the dollar crashes, Michael Saylor probably is the richest person in the world. | r/Bitcoin | 2024-22-05 |
You can't state something without giving reasons for it. | r/bitcoin | You can't state something without giving reasons for it. | r/Bitcoin | 2024-22-05 |
Cool story bro | r/bitcoin | Cool story bro | r/Bitcoin | 2024-22-05 |
I agree and you pose a great question, I wonder what the price of bitcoin needs to be before one ‘sat’ is worth more than the common good or service. | r/bitcoin | I agree and you pose a great question, I wonder what the price of bitcoin needs to be before one ‘sat’ is worth more than the common good or service. | r/Bitcoin | 2024-22-05 |
Could you explain yourself? | r/bitcoin | Could you explain yourself? | r/Bitcoin | 2024-22-05 |
Maybe not on l1. But can surely be infinite divisible on higher layers.. | r/bitcoin | Maybe not on l1. But can surely be infinite divisible on higher layers.. | r/Bitcoin | 2024-22-05 |
Yeah, you be trolling all right. | r/bitcoin | Yeah, you be trolling all right. | r/Bitcoin | 2024-22-05 |
What’s your point?
Slicing a pizza up into smaller slices (divisibility) does not affect how rich they are… if 10 million people want that pizza. The little slice you have is going to carry significant weight.
I sort of see the point you’re making now, but you actively didn’t make a point. Take some time to formulate the words and explain | r/bitcoin | What’s your point?
Slicing a pizza up into smaller slices (divisibility) does not affect how rich they are… if 10 million people want that pizza. The little slice you have is going to carry significant weight.
I sort of see the point you’re making now, but you actively didn’t make a point. Take some time to formulate the words and explain | r/Bitcoin | 2024-22-05 |
But…Bitcoin IS infinitely divisible… I think you should first figure out how decimals work. Secondly, if you own 1 Bitcoin and it’s divided into a trillion pieces, you still own 1 Bitcoin. | r/bitcoin | But…Bitcoin IS infinitely divisible… I think you should first figure out how decimals work. Secondly, if you own 1 Bitcoin and it’s divided into a trillion pieces, you still own 1 Bitcoin. | r/Bitcoin | 2024-23-05 |
It's simple.
The year is 2124. A SAT is now worth enough to take your extended family out for dinner and leave a healthy tip.
So what do you do when you want to buy a pack of cigs?
Start there. | r/bitcoin | It's simple.
The year is 2124. A SAT is now worth enough to take your extended family out for dinner and leave a healthy tip.
So what do you do when you want to buy a pack of cigs?
Start there. | r/Bitcoin | 2024-23-05 |
Start where? Like I have to come up with a solution to that or else Bitcoin is impossible?
Okay… I don’t think a Sat could be worth a few hundred in today’s dollars. But let’s say it was.
1. You build a layer two on top of that which subdivides sats into partial sats.
2. You don’t try to buy a cup of coffee with your Tesla stock (Bitcoin). You have some other additional way to break it up, based on any number of free market solutions.
Your turn, since Bitcoin is unstoppable, what will be impossible for Bitcoin to achieve, if the smartest human minds are working on it? | r/bitcoin | Start where? Like I have to come up with a solution to that or else Bitcoin is impossible?
Okay… I don’t think a Sat could be worth a few hundred in today’s dollars. But let’s say it was.
1. You build a layer two on top of that which subdivides sats into partial sats.
2. You don’t try to buy a cup of coffee with your Tesla stock (Bitcoin). You have some other additional way to break it up, based on any number of free market solutions.
Your turn, since Bitcoin is unstoppable, what will be impossible for Bitcoin to achieve, if the smartest human minds are working on it? | r/Bitcoin | 2024-23-05 |
So stop with the 'muh pizza' analogy, then.
The purpose of dividing the sat is NOT to create more wealth, it's to enable scaling.
That's it. There's nothing more. | r/bitcoin | So stop with the 'muh pizza' analogy, then.
The purpose of dividing the sat is NOT to create more wealth, it's to enable scaling.
That's it. There's nothing more. | r/Bitcoin | 2024-23-05 |
Explain, then. | r/bitcoin | Explain, then. | r/Bitcoin | 2024-23-05 |
Read Andreas antonopoulos books. Everything you need to know. | r/bitcoin | Read Andreas antonopoulos books. Everything you need to know. | r/Bitcoin | 2024-25-05 |
Are you a bot? | r/bitcoin | Are you a bot? | r/Bitcoin | 2024-25-05 |
N | r/bitcoin | N | r/Bitcoin | 2024-25-05 |
42 | r/bitcoin | 42 | r/Bitcoin | 2024-25-05 |
Yeah, but what's the question?
Reply within the next 10 million years or you owe me 1 BTC. | r/bitcoin | Yeah, but what's the question?
Reply within the next 10 million years or you owe me 1 BTC. | r/Bitcoin | 2024-25-05 |
I’m really not. | r/bitcoin | I’m really not. | r/Bitcoin | 2024-28-05 |
MmHmm. | r/bitcoin | MmHmm. | r/Bitcoin | 2024-28-05 |
Note: these are the fee differences on Kraken. I plan on putting all of my bitcoin onto my Trezor, but I'm wondering about the consequences of using Lightning instead. | r/bitcoin | Note: these are the fee differences on Kraken. I plan on putting all of my bitcoin onto my Trezor, but I'm wondering about the consequences of using Lightning instead. | r/Bitcoin | 2024-21-05 |
What do you mean for investments? Are you trying to buy shitcoins?
Trezor is supposed to be a hardware wallet. Those keep seeds secure by airgapping them and keeping it offline. A Lightning wallet is always hot, it needs to be for routing and signing.
I'm am not familiar with LN on trezor. I would send on chain and hold if you aren't trying to spend. I also wouldn't mess with shitcoins. LN is cheaper for transactions if you are paying for stuff often. Right now, on chain fees are pretty low, so you should be fine going on chain. | r/bitcoin | What do you mean for investments? Are you trying to buy shitcoins?
Trezor is supposed to be a hardware wallet. Those keep seeds secure by airgapping them and keeping it offline. A Lightning wallet is always hot, it needs to be for routing and signing.
I'm am not familiar with LN on trezor. I would send on chain and hold if you aren't trying to spend. I also wouldn't mess with shitcoins. LN is cheaper for transactions if you are paying for stuff often. Right now, on chain fees are pretty low, so you should be fine going on chain. | r/Bitcoin | 2024-21-05 |
No, just using btc as store of value. I'd be transferring it to my Trezor, and leaving it alone until 12-18 months after this past halving to take some profit, and save for a dip using the logarithmic chart.
Thank you for your feedback | r/bitcoin | No, just using btc as store of value. I'd be transferring it to my Trezor, and leaving it alone until 12-18 months after this past halving to take some profit, and save for a dip using the logarithmic chart.
Thank you for your feedback | r/Bitcoin | 2024-21-05 |
You can't send/receive lightning bitcoin payments to/from a Trezor hardware wallet.
You can only send/receive on-chain bitcoin payments to/from a Trezor hardware wallet. | r/bitcoin | You can't send/receive lightning bitcoin payments to/from a Trezor hardware wallet.
You can only send/receive on-chain bitcoin payments to/from a Trezor hardware wallet. | r/Bitcoin | 2024-21-05 |
Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/1cw9kl2/mentor_monday_may_20_2024_ask_all_your_bitcoin/) for unanswered questions. | r/bitcoin | Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/1cw9kl2/mentor_monday_may_20_2024_ask_all_your_bitcoin/) for unanswered questions. | r/Bitcoin | 2024-21-05 |
poopoopoo peepeepee | r/bitcoin | poopoopoo peepeepee | r/Bitcoin | 2024-21-05 |
etf need to keep 1:1 ratio.
Even if they somehow would not, they would inflate etf:s not btc. | r/bitcoin | etf need to keep 1:1 ratio.
Even if they somehow would not, they would inflate etf:s not btc. | r/Bitcoin | 2024-21-05 |
Just look at the orders once it hits 71 | r/bitcoin | Just look at the orders once it hits 71 | r/Bitcoin | 2024-21-05 |
Today? Nope | r/bitcoin | Today? Nope | r/Bitcoin | 2024-21-05 |
Meme lines exists | r/bitcoin | Meme lines exists | r/Bitcoin | 2024-21-05 |
I never understood what the claim is, with regards to TA.
Is it:
A) That \*ACTUALLY\* market supply/demand isn't what is determining the price, or
B) That, LOL of course it is, but for some reason so many people are believing in TA, that it becomes a self-fulfilling prophecy.
Are there any other options? | r/bitcoin | I never understood what the claim is, with regards to TA.
Is it:
A) That \*ACTUALLY\* market supply/demand isn't what is determining the price, or
B) That, LOL of course it is, but for some reason so many people are believing in TA, that it becomes a self-fulfilling prophecy.
Are there any other options? | r/Bitcoin | 2024-21-05 |
I have no idea.
The problem with B is that 1) TA predictions are so vague that they can't be acted upon and 2) no two TA-ers agree. This undermines the argument that TA could become a self fulfilling prophecy. | r/bitcoin | I have no idea.
The problem with B is that 1) TA predictions are so vague that they can't be acted upon and 2) no two TA-ers agree. This undermines the argument that TA could become a self fulfilling prophecy. | r/Bitcoin | 2024-21-05 |
is this it? | r/bitcoin | is this it? | r/Bitcoin | 2024-21-05 |
The ETF's are backed by real Bitcoin holdings, so this is not a concern. | r/bitcoin | The ETF's are backed by real Bitcoin holdings, so this is not a concern. | r/Bitcoin | 2024-21-05 |
If you have no idea what the claims are, then how do you know they're bullshit? | r/bitcoin | If you have no idea what the claims are, then how do you know they're bullshit? | r/Bitcoin | 2024-21-05 |
> If you have no idea what the claims are, then how do you know they're bullshit?
You might want to work on your reading comprehension. There are two layers at work here. First, there are TA's predictions - that is what I call bullshit. Second is the question posed above, i.e: a) do TAers believe that their theories trump supply and demand or b) do they believe that TA is a self fulfilling prophecy. And my response to that is that it does not matter, TA is bullshit either way. | r/bitcoin | > If you have no idea what the claims are, then how do you know they're bullshit?
You might want to work on your reading comprehension. There are two layers at work here. First, there are TA's predictions - that is what I call bullshit. Second is the question posed above, i.e: a) do TAers believe that their theories trump supply and demand or b) do they believe that TA is a self fulfilling prophecy. And my response to that is that it does not matter, TA is bullshit either way. | r/Bitcoin | 2024-21-05 |
What sorts of predictions do you believe TA makes? Not every practitioner of TA claims to have predictive power. | r/bitcoin | What sorts of predictions do you believe TA makes? Not every practitioner of TA claims to have predictive power. | r/Bitcoin | 2024-21-05 |
You know that moment when something is about to happen and you can see it but nobody else does? Like the tide has gone out before a tsunami….. | r/bitcoin | You know that moment when something is about to happen and you can see it but nobody else does? Like the tide has gone out before a tsunami….. | r/Bitcoin | 2024-21-05 |
Screw them | r/bitcoin | Screw them | r/Bitcoin | 2024-21-05 |
> What sorts of predictions do you believe TA makes?
Alllll TA predictions can be distilled down to this form:
*If the price breaks such and such a barrier, it might continue to go up, otherwise it could go down.*
The prediction never contains specifics, no precise dates or amounts, no information that is actionable. That leads us to he defining property of a TA prediction: it is not falsifiable. No matter what happens, the TAer can point back at his prediction and say, "see, I was right". A prediction that is so vague as to always come true is no prediction at all.
> Not every practitioner of TA claims to have predictive power.
Sure. | r/bitcoin | > What sorts of predictions do you believe TA makes?
Alllll TA predictions can be distilled down to this form:
*If the price breaks such and such a barrier, it might continue to go up, otherwise it could go down.*
The prediction never contains specifics, no precise dates or amounts, no information that is actionable. That leads us to he defining property of a TA prediction: it is not falsifiable. No matter what happens, the TAer can point back at his prediction and say, "see, I was right". A prediction that is so vague as to always come true is no prediction at all.
> Not every practitioner of TA claims to have predictive power.
Sure. | r/Bitcoin | 2024-21-05 |
Your understanding of TA seems to be based entirely on the way YouTube grifters use it to give cover to their bullshit.
Edit, as I've been blocked: I'm glad we were able to have a mature and productive conversation. | r/bitcoin | Your understanding of TA seems to be based entirely on the way YouTube grifters use it to give cover to their bullshit.
Edit, as I've been blocked: I'm glad we were able to have a mature and productive conversation. | r/Bitcoin | 2024-21-05 |
Yup. FTX had the effect of dampening the previous bull run. People sent their money to FTX, thinking that they were buying bitcoin. But FTX didn't buy the underlying bitcoin. So dollars that were intended to flow into bitcoin did not make it. Paper bitcoin depresses the price of real bitcoin. | r/bitcoin | Yup. FTX had the effect of dampening the previous bull run. People sent their money to FTX, thinking that they were buying bitcoin. But FTX didn't buy the underlying bitcoin. So dollars that were intended to flow into bitcoin did not make it. Paper bitcoin depresses the price of real bitcoin. | r/Bitcoin | 2024-21-05 |
After I post this, I am going to block you, because you are boring the living shit out of me. I don't give a flying fuck whether or not you subscribe to TA.
> Your understanding of TA seems to be based entirely on the way YouTube grifters use it to give cover to their bullshit.
There is no golden source of TA. It's all bullshit. | r/bitcoin | After I post this, I am going to block you, because you are boring the living shit out of me. I don't give a flying fuck whether or not you subscribe to TA.
> Your understanding of TA seems to be based entirely on the way YouTube grifters use it to give cover to their bullshit.
There is no golden source of TA. It's all bullshit. | r/Bitcoin | 2024-21-05 |
> Meme lines exists
Meme lines *exist | r/bitcoin | > Meme lines exists
Meme lines *exist | r/Bitcoin | 2024-21-05 |
Thank you for the English lesson | r/bitcoin | Thank you for the English lesson | r/Bitcoin | 2024-21-05 |
Feels like it was only yesterday it was 66k | r/bitcoin | Feels like it was only yesterday it was 66k | r/Bitcoin | 2024-21-05 |
Some solid TA right there | r/bitcoin | Some solid TA right there | r/Bitcoin | 2024-21-05 |
Reminds me of that bitcoin hype video with interstellar. “Those aren’t mountains, those are waves”
I knew I should’ve saved that video when I had the chance | r/bitcoin | Reminds me of that bitcoin hype video with interstellar. “Those aren’t mountains, those are waves”
I knew I should’ve saved that video when I had the chance | r/Bitcoin | 2024-21-05 |
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