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OK time to rant about prices and market cap. 1) What is up with this 'only 21m people can own 1 BTC' meme? You could equally say '10^15 people can each own 1 SAT'.

11:17 AM · Aug 25, 2019Twitter Web App

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2) We could use BTC, 100 BTC, or 0.0001 BTC as units, and it doesn't change fundamentals. Stocks split all the time; everyone ends up with 2x as many shares each worth 1/2 as much. It has no real impact other than making it easier to type the price in a table with other stocks.

SBF

@SBF_FTX

Aug 25, 2019

3) It's true BTC isn't inflationary but USD inflation is only a few % and you get interest. So you can either hold BTC in a wallet or get paid a few % to buy USD govt bonds.

SBF

@SBF_FTX

Aug 25, 2019

4) It's market cap that matters, not price or supply on their own. The real question is what's worth more: a) All BTC b) 2% of all gold c) 10% of Canada's GDP d) Mastercard e) Jeff Bezos f) 20% of money US spent on food in 2019 All of those are valued at ~$150b (+-50%)

SBF

@SBF_FTX

Aug 25, 2019

5) FWIW using a-f to price BTC has been helpful for me. Makes it seem like $10k is a somewhat reasonable price, $100k if crypto really takes off in society, and $0 if it fizzles out. (Or anything in-between.) But current market cap is maybe in the right ballpark!

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Please run the stops on this fallacy!

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Haha we're with you man, the Bitcoin maximalists are annoying.

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Not a falacy, it's pretty simple: If you own a BTC, only 21 millon people can be as btc-wealthy as you.

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I don't get your problem with the saying. Yeah you can split btc down to satoshi's, but that doesn't change the fact that there's only 21m whole bitcoins. If it somehow goes mainstream it will actually be impossible for everyone to own a whole coin

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would you be happier owning 0.99btc or 1btc?

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0.98

GIF