Bitcoins aren't solid so it should be possible to split one up and make two bitcoins from the pieces

If you measure the Bitcoin "money supply" as the amount of Stuff Bitcoins in circulation can buy, then what makes the Bitcoin money supply go up is a rising price of Bitcoin in terms of a stable currency. Just making Bitcoin more divisible would not do it.

By this theory, a shortage in money supply causes deflation which increases the effective money supply so as to reach an equilibrium in money supply.

Truth is, I know very little about money supply and am pulling all this out of your left ear like a magician with a silver dollar.


PairTheBoard

God had Moses mint bitcoins on Mt. Sinai. They proved very useful.

Being able to purchase more with the same quantity of currency IS deflation.

If you measure "height" as the number of shoes you own, then what makes you taller is exchanging money for shoes.

By this theory, I got taller last week.

Bitcoins may have no more to do with money than your height does to how many shoes you own. Certainly, if Bitcoins became worthless, that would be the case. So rather than trying to talk about something called the "Bitcoin money supply", we should just talk about the "Bitcoin supply". That's something easily defined as the number of Bitcoins that have been issued, about 20 million I believe. Clearly, making Bitcoins more divisible won't change that number. Make them infinitely divisible. It won't change the Bitcoin supply.


PairTheBoard

I was responding to you redefining money supply. I'm ok with you redefining words however you see fit, but it does make communication difficult.

The amount of something is approximately equal to the amount of it. I believe they cover this in University mathematics courses. It has been a long time since I was in school, so I might be mistaken.

I'm going to get quite rich after going to the bank and exchanging my $20 bills for pennies later today.

You took truck driving school which wasn’t that long ago. Silly you!

Are Bitcoins part of our money supply? We roughly count our money supply as the amount of dollars in readily spendable form. Like cash and dollars in checking accounts. Some would argue that Bitcoins amount to dollars in a readily spendable form. You used to be able to buy Tesla cars with them. If you want to count Bitcoins as part of our money supply then you might call their contribution to our money supply the "Bitcoin money supply". In that case, the "Bitcoin money supply" would depend on the current market price of Bitcoins in dollars. If you just want to talk about the number of Bitcoins having been issued then I think you should refer to the "Bitcoin supply".


PairTheBoard

While technically the pennies would be cash and part of our money supply, I think they would be in a less spendable form than the $20 bill, so effectively reducing our money supply. You would likely be charged a fee to cash the pennies in. If you traded the cash in for a long term treasury bond you would definitely reduce a common measure of money supply.


PairTheBoard

Making Bitcoin more divisible wouldn't give you more Bitcoin to spend. 1/10 Bitcoin = 10/100 Bitcoin = 100/1000 Bitcoin = etc. However, it might make your Bitcoin holdings more easily spendable. Your 1/10 Bitcoin is like a $2000 bill right now. You'd have a hard time buying a gallon of milk with it. But if you could pay with 1/10,000 Bitcoin the grocer might take it. Making Bitcoins more easily spendable could be inflationary for the economy. But it would not be like splitting a stock. In that case, more shares of stock are issued and each share becomes worth less. Making Bitcoin more divisible does not create more Bitcoins.


PairTheBoard

I, sir, have pockets. Very big pockets. Big pocket people are making a killing in the dollars to pennies trade

Rumor is Big Pocket Stocks. You heard it at SMP first. Think Rockets.


PairTheBoard

****, don't listen to them. They think there's as many odd integers as there are integers.

Nearly tipping over my juice this morning the save was worthy of an instant replay. Charlie Chaplin would have been proud.


PairTheBoard

I'm playing the fool to ensure you guys aren't slipping is all. I knew this pfft.

Careful. My brain farts are what drove Cantor insane.

There is a one to one corespondents between the number of beers I drink and the wisdom I spew.

When you find yourself reading about mansions built for dogs, you know you've seen enough news for the day.

https://www.wsj.com/articles/doggie-...-pets-4bbcf685


PairTheBoard

Zombie is the new cool.

Max Headroom Vs. John Wick: Who Wins?

My God is better than your God.

Queensbury Rules?

When I got down to the last distraction from doing my chore I decided the chore would be a nice distraction from my distractions.


PairTheBoard

Existence is the treasure that lies in the place where the finite passes to the infinite.


PairTheBoard

Before bots I just had to question whether other humans on the Internet are conscious.