Re:u/DeepFuckingValue and the GameStop Reddit mania
by cwhiz on Friday January 29, 2021 @08:17PM
(#25965016)
The supply of Bitcoin is “limited” but in reality it’s irrelevant. 1 satoshi is 0.00000001 which means for every 1 Bitcoin in circulation there is actually 100,000,000 satoshi. You can’t buy a hundred millionth of GME.
[ Parent
| on HN ]
Re:u/DeepFuckingValue and the GameStop Reddit mania
by xur17 on Friday January 29, 2021 @10:33PM
(#25965737)
The supply of Bitcoin being limited absolutely is relevant, and you can buy partial shares of stock (not sure if you can go down to a hundred millionth, but not sure that's relevant). The point is that Gamestop can issue new shares, diluting the existing supply, making it a terrible "store of value". Bitcoin on the other hand has a fixed supply that cannot be increased.
Re:u/DeepFuckingValue and the GameStop Reddit mania
by cwhiz on Saturday January 30, 2021 @07:45AM
(#25968623)
Supply constraints don’t matter when there is virtually infinite availability. There are nearly 19,000,000 coins in circulation and each coin represents 100,000,000 swappable assets. We will reach the heat death of the universe before Bitcoin supply matters.