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RE: Bitcoin is nothing like the Dutch Tulip Mania, you can’t just grow as many as you want

in #bitcoin • 7 years ago (edited)

the available amount can not be controlled by anyone (21 million is the limit)

Meaning that literally not everyone can have one. I guess if you want a system of literal haves and have nots it works well though...

Also regarding its "speed" one of the biggest problems facing Bitcoin right now is how slow transactions are so...

And while you can't create more bitcoin, there certainly has been a huge influx of altcoins which isn't terribly dissimilar to growing your own tulips.

7 years ago in #bitcoin by
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     7 years ago  

    BTC is tracked to 8 decimal places, so lots of room to divide individual BTC into smaller unts.

    Think of BTC as a $10,000,000 piece of paper money, which can be divided down into $1 bills if you want

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     7 years ago  

    Because if there's anything people love it's working with numbers out to 8 decimal places!

    What's your current salary?
    0.00015039!