ynot2k

10-06-2017, 11:25 AM

A while back member AnotherDave posted he was involved with BTC when it reached parity with 1 FRN.

At that value (or cost, or price, or whatever one wishes to express it as) there would only ever be 21 million units available (just looking at Bitcoin, not other cryptos). 21 million units would seem to be completely restrictive as a currency. The fractions from the 3rd decimal down to the 8th would be totally unusable as they would have no practical value.

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ETA: For simplicity in the following question can we assign (or assume) that unit of the currency in question has the value of one FRN? I understand this will not meet all the criteria that can be brought into the discussion but perhaps it will do.

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I wonder what some here would suggest as the minimum number of units needed to make something a usable currency?

At $5000 FRN "value" of on BTC there would be 105 Billion units.

At $50K FRN per BTC there would be 1.05 Trillion units.

Is 105 Billion units enough for a viable currency?

Is 1.05 Trillion?

Any thoughts on the above?

ps I understand that there a some who think the real "value" is zero, or BTC is in a bubble and will crash, or will be run out of town by the sheriff etc. All points of view are worth considering but not all are relevant to the above questions.

At that value (or cost, or price, or whatever one wishes to express it as) there would only ever be 21 million units available (just looking at Bitcoin, not other cryptos). 21 million units would seem to be completely restrictive as a currency. The fractions from the 3rd decimal down to the 8th would be totally unusable as they would have no practical value.

----

ETA: For simplicity in the following question can we assign (or assume) that unit of the currency in question has the value of one FRN? I understand this will not meet all the criteria that can be brought into the discussion but perhaps it will do.

----

I wonder what some here would suggest as the minimum number of units needed to make something a usable currency?

At $5000 FRN "value" of on BTC there would be 105 Billion units.

At $50K FRN per BTC there would be 1.05 Trillion units.

Is 105 Billion units enough for a viable currency?

Is 1.05 Trillion?

Any thoughts on the above?

ps I understand that there a some who think the real "value" is zero, or BTC is in a bubble and will crash, or will be run out of town by the sheriff etc. All points of view are worth considering but not all are relevant to the above questions.