oaksacorn
Long

I Call Bullsh*t!

BITSTAMP:BTCUSD   Bitcoin / Dollar
493 6 5
BTC can't go big time! BTC is deflationary! For BTC , it's all about the Blockchain!

Blah blah blah.

If you assume that BTC will scale sufficiently in the next few years as I believe, then look at the numbers and see the genius. Assume current worldwide M3             as 60T. Keep in mind that this number reflects the current central bank insanity that grips some of our best educated. 60T divided by 21M gives you 2,857,143. Now understand that Bitcoin can move to the right of the decimal to give 1 Satoshi = .00000001. In terms of 10 Satoshi, BTC enables an M3             number of 28.5T. In terms of 1 Satoshi, BTC enables an M3             number of 285.7T. This is a factor of 4.76 times the current insane worldwide M3             . There is a boat load of room. This enables a steady growth rate and a holistic and sound rate of inflation for our children's children's children. Plenty of room to accommodate our trip to the future and solar systems beyond ours. Next time someone feeds you a line of crap about how BTC cannot go big time and BTC is deflationary, remind yourself of the math. The math tells a different story. Think on this as NIRP approaches along with the recent steady calls by financial elites of a cashless society. You have a right to save money! No one has the right to make you spend it in lieu of having it eaten away. For US citizens             , the constitution's 1st and 2nd amendments ensure the right to fight tyranny. This includes more than guns and free speech by default. For non US citizens             , feel the love! For BTC believers, own the math!

We have only just begun.

60,000,000,000,000 1
2,857,142.86
28,571,428,571,429
0.0000001
285,714,285,714,286 4.76
0.00000001
I'm bullish too, but why does the number of decimal places matter? That can always be changed in a hard fork. It's sufficient now and certainly not the limiting factor for Bitcoin's growth or scaling.
Reply
oaksacorn WeGotCactus
It matters because people don't understand that decimal (8 to the right = 1 Satoshi) can, at this point, sustain a BTC currency world that would give enough leeway for an M3 of up to 285T (an all Bitcoin currency world). This is massive and so not inherently deflationary as the negative pundits point to. This, of course, would only come about with the price of 1 Bitcoin astronomically higher than the current price. So if the entire world (M3) went to BTC as a currency right now (lets assume all 21M coins), the price of 1 bitcoin would be 60T/21M = 2,857,143. $1 would equal 10 Satoshi. You would not need a hard fork, as mentioned, until your children's children's children. The 8th decimal would allow for an M3 level of 285T. So yes it is sufficient now and not a limiting factor and is why, outside of being technically bullish, I am extremely fundamentally bullish. BTC is big time.
Reply
oaksacorn WeGotCactus
Yes, that is my point. It is sufficient (to go big time) precisely because of the number of decimals.
Reply
WeGotCactus oaksacorn
You make it sound like it will go bigtime because of the number of decimals. This is simply 1 of 1000 things not holding it back. To put it another way, not a big deal at all, or anything to do with your charting.
Reply
oaksacorn WeGotCactus
Struggling here Cactus. It is precisely because of the decimals to the right that the detracting deflation arguments don't hold. It is because of the decimals to the right that Bitcoin can handle being a medium of exchange that can handle current M3 levels and a factor of 4.76 times that. It is all about the decimal place when talking about a real solution as a medium of exchange with a benchmark of 21M mined coins. It is a big deal because Bitcoin "as is" is the real deal.....with no hard fork nonsense thrown into the mix. This would not be the case is it only went 4 decimals to the right. That would hold it back without a fork. Fork this.

You are right that it is simply 1 of 1000 things not holding it back if you want to just view BTC as just an asset versus a viable big time medium of exchange...and that would be ok. Not sure about your charting comment. The chart only shows what it shows. The spirit of my comments were fundamental; not that I think we are in 1 of a larger 3 or that weekly momentum looks positive again.
Reply
oaksacorn WeGotCactus
The math would be 60T/21M = 2,857,143. 1 to 1. Going out to the 7th decimal could sustain an M3 of 28.5T ( 28,857,143/.00000010). Going out to the 8th Satoshi could sustain an M3 level of 285T. That is huge!
Reply
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