Bitcoin !! i dont get it !!

[Intrinsic]

Why do think bitcoins was design to be a finite amount, remember since the $value of a bicoin is arbitrary, the total any-other-cash system can always be divide among the bitcoins. an infinite BTC ( or any cash system) could ... would drive inflation infiinit over time (or crash). that is what were in now, that is the attraction of the finite crypto curriencies.
hard to create fake wealth, fake wealth keeps the powerful in powoer and the rest as working taxpaying slaves.

[Intrinsic]

gotta run, be back later

[Roots]

"Infinite compared to"

Something is either infinite or not, you can't compare one thing to another to determine if something infinite or not.
Universal law(s) say labor is extremely finite. So does basic math....7 billion x 24 x 365 = 6.132e+13 = The maximum amount of labor this year..... take out the sick, young and old and time for people to sleep and the number is much smaller. Currency no matter if it's fiat or backed by a commodity can be multiplied or divided an indefinite amount of times making it infinite.

[Roots]

I'll give you half an atom of gold for that car.

[bentech]

labor in relation to wealth is infinate IN THAT when labor runs out,
there will be no more wealth because there will be NO ONE LEFT to determine it

[Roots]

If labor ran out (lol) what would the Mona Lisa be worth...?

[Roots]

How do robots and automation fit into the equation?....if I had a robot that could role blunts, give head and wipe my ass I would never get out of this chair.

[bentech]

robots and automation cant feed themselves... yet

get back then.

[Roots]

The singularity is fast approaching.

[bentech]

Bitcoin was born the day in 2008 some anonymous computer geek using the unlikely Japanese pseudonym Nakamoto posted an algorithm (on some obscure listserve website) that made something remarkable possible: It could generate a string of zeros and ones that was unique, ensuring that, before it could be transferred from one computer or device to another, a minimum number of other users had to trace its transfer and verify that it left the device of the seller (of some good or service) before moving to the device of the buyer. Moreover, the algorithm was written in such a way as to guarantee a steady ‘production’ of these strings—or bitcoins—over time, which, along with the computing power devoted by users in order to help track transfers, could collectively to maintain The Ledger. Lastly, to cap the supply of bitcoins, and thus safeguard their value, the algorithm guaranteed that the maximum number of these strings could only grow (given the algorithm’s structure) to 21 million units by the year 2040. Once it reached that quantity, its ‘production’ would cease and the users of bitcoins would have to do with these 21 million units. Meanwhile, before that date, and before the maximum bitcoin supply is reached, the ease with which users could ‘mint’ or ‘dig up’ fresh bitcoins (by making computer power available to the bitcoin community) would be inversely related to the total quantity of bitcoins already ‘created’ or ‘extracted’ from the algorithm.

In a sense, the designer of the Bitcoin algorithm (who has, by the way, dropped off the radar some time ago) seems to have designed the new currency on the basis of faith in the crudest version of the ‘monetarist’ Quantity Theory of Money—the idea that the value of money depended solely on the quantity of money supplied to the public. Thus, they aimed at creating the digital equivalent to… gold. Come to think of it, Bitcoin was, indeed, modeled on gold.



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