Row 7545

Row ID: 7545 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 7545 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Most of us know this, but thereis a lot of new people here with a lot of questions so I thought I'd make a hypothetical thought experiment, because I had this same question years ago. This is not so much about lost Bitcoin, per se, but about scarcity and transitively, **value.** Its all part of the value equation.

Bitcoin is divided up into satoshis, which are the smallest unit of a Bitcoin. A whole Bitcoin is actually 100,000,000 satoshis. One satoshi is 0.00000001 Bitcoin (8 decimal places after the whole number)

In 50 years from now, Bitcoin will be extremely scarce. So much so, that we will probable be amazed at how much 1 satoshi is worth. It will likely be far more than a penny though. Probably more like a quarter or even a dollar, or more...

When Bitcoin gets that valuable that you cannot facilitate common trade because 1 satoshi is too much or too little to settle a transaction (think if we didn't have pennies, only quarters), then the protocol can simply add more decimal places to accommodate this.

You can add as many decimal places as are needed and **no, this does not change the value or the supply**.

You cannot cut a single pizza up into smaller and smaller pieces until you feed the whole world. It's still one pizza.

At that point, having .01 will be seen like having 10 bitcoin is today.

Cheers! Stay humble and stack sats

FieldValue
text Most of us know this, but thereis a lot of new people here with a lot of questions so I thought I'd make a hypothetical thought experiment, because I had this same question years ago. This is not so much about lost Bitcoin, per se, but about scarcity and transitively, **value.** Its all part of the value equation. Bitcoin is divided up into satoshis, which are the smallest unit of a Bitcoin. A whole Bitcoin is actually 100,000,000 satoshis. One satoshi is 0.00000001 Bitcoin (8 decimal places af…
label r/bitcoin
dataType post
communityName r/Bitcoin
datetime 2024-05-16
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url_encoded Z0FBQUFBQm5Lak9IODRTMjNaU1c3ZVpEb3hSNkc1Q2U0WHY0VDd1U1M2SHZFUkJGUWlVUzBEYVprdnZSR2JEdEpobnItajZBdkRMTGhHUHBDV1RHSmdfZG95a2dPWXk1RnRIWENhc1Q4WXByTDNRbExEWFM0VDlINTRLNDRpRFV1X01KWVlxa2NOY21nMjlwT0VmLUt4MVcxY2xNMkhRMUpzUFFUQWFENmJZTVNaeC10cWVHV0o4Ti1rTWpYU2hRWngxdTZqaV9fdHVFTmYzQVBJNkttT000LTgxNkp4Ym1ndz09

Raw Record

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  "text": "Most of us know this, but thereis a lot of new people here with a lot of questions so I thought I'd make a hypothetical thought experiment, because I had this same question years ago. This is not so much about lost Bitcoin, per se, but about scarcity and transitively, **value.** Its all part of the value equation.\n\nBitcoin is divided up into satoshis, which are the smallest unit of a Bitcoin. A whole Bitcoin is actually 100,000,000 satoshis. One satoshi is 0.00000001 Bitcoin (8 decimal places after the whole number)\n\nIn 50 years from now, Bitcoin will be extremely scarce. So much so, that we will probable be amazed at how much 1 satoshi is worth. It will likely be far more than a penny though. Probably more like a quarter or even a dollar, or more...\n\nWhen Bitcoin gets that valuable that you cannot facilitate common trade because 1 satoshi is too much or too little to settle a transaction (think if we didn't have pennies, only quarters), then the protocol can simply add more decimal places to accommodate this.\n\nYou can add as many decimal places as are needed and **no, this does not change the value or the supply**.\n\nYou cannot cut a single pizza up into smaller and smaller pieces until you feed the whole world. It's still one pizza.\n\nAt that point, having .01 will be seen like having 10 bitcoin is today.\n\nCheers! Stay humble and stack sats",
  "label": "r/bitcoin",
  "dataType": "post",
  "communityName": "r/Bitcoin",
  "datetime": "2024-05-16",
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