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Thread: Now I understand Bitcoin?

  1. #31
    Quote Originally Posted by Zippyjuan View Post
    How many people would be able to buy a bitcoin if the price of one was $4 million? Or even $1- 2 million a pop?

    Bitcoin currently has 8 decimal places allowed. Even at 4 million each a satoshi (The smallest unit, or 0.00000001 BTC) would only be worth 4 cents. So plenty of people would be able to afford bitcoin
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq



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  3. #32
    Quote Originally Posted by kpitcher View Post
    Bitcoin currently has 8 decimal places allowed. Even at 4 million each a satoshi (The smallest unit, or 0.00000001 BTC) would only be worth 4 cents. So plenty of people would be able to afford bitcoin
    Do the exchanges deal with only full coins or can you by one satoshi on them? You can't buy say half a share of Google on a stock exchange for example.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.



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  5. #33
    Bit coin is easy to understand . You , the avg individual , long on faith and not overly bright work hard all week for your 500 FRN take home . Then you take your worthless , unbacked paper dollars and get you some pretend crypto bits instead .
    Do something Danke

  6. #34
    Quote Originally Posted by Zippyjuan View Post
    Do the exchanges deal with only full coins or can you by one satoshi on them? You can't buy say half a share of Google on a stock exchange for example.
    Wow you are ignorant.. yes everything is in Satoshis. That is the whole point.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc


    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  7. #35
    Quote Originally Posted by Zippyjuan View Post
    Do the exchanges deal with only full coins or can you by one satoshi on them? You can't buy say half a share of Google on a stock exchange for example.
    Yup, most people do buy partial shares. The 8 decimal places seemed silly years ago, but as with many things Satoshi he was ahead of his time. Exchanges do have a minimum purchase which is usually equivalent to a few dollars.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  8. #36
    Quote Originally Posted by kpitcher View Post
    Yup, most people do buy partial shares. The 8 decimal places seemed silly years ago, but as with many things Satoshi he was ahead of his time. Exchanges do have a minimum purchase which is usually equivalent to a few dollars.
    Thanks for the info. I tried to research it and saw one exchange had a minimum purchase of 0.001 bitcoins.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  9. #37
    Quote Originally Posted by Zippyjuan View Post
    Thanks for the info. I tried to research it and saw one exchange had a minimum purchase of 0.001 bitcoins.
    do me a favor. buy early so you don't become the contrarian indicator of a blown off top

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