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/biz/ - Business & Finance

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54332365 No.54332365 [Reply] [Original]

bitcoin has a fixed supply, ok
but what happens if you have to price something that is worth more than 21 million bitcoin?
for instance if you have to price the solar system and everything in it, or a given galaxy
answers only

>> No.54332398

I wonder how underage one must be to come up with those sort of questions and posting cartoon animal with it, I suppose 8 and I am wondering what your parents are doing. Anyway, supply is a meme, doesnt matter if hyper inflationary or hyper deflationary with literally burning shit with no emissions. All that matters is usage and necessity, does anyone need btc, no. are there people that are going to use it, be it as collateral on an evm chain or to send them around, certainly, so it has value, irrelevant of its supply

>> No.54332459

>>54332398
the context is when fiat disappeared and bitcoin succeeded somehow in the future, you didn't answered

>> No.54332466

>>54332398
How does anyone know if he does not ask?
>>54332365
For something to be worth something in monetary terms, you have to be able to buy it (in actuality, not on paper). Nobody can buy (and, say, mine) Jupiter, thus Jupiter has no monetary value - it's not 0, you just can't make a transaction like that.
If you could buy it, then ideally, the value of all goods that are being sold would be equal to all the money that's buying them, so if someone could somehow purchase, sell, and use the entire solar system, and was willing to sell planets, then the purchasing power of BTC (assuming it was being used as money) would scale accordingly.

>> No.54332473

>>54332459
You are so retarded you don't even deserve people attempting to answer you. I'll answer your question with a question:

If you owned a galaxy, what would you ask for it?

>> No.54332488

>>54332473
Bout tree fiddy

>> No.54332518

>>54332473
probably the value of 21 million bitcoins multiplied by something like 10 000 000 000
since bitcoin has fixed supply, the value of 1 bitcoin would have to be worth 10 000 000 000x more, yet bitcoin is supposed to become stable

>> No.54332543

>>54332365
Price go up then.

>> No.54332586

>>54332543
price go up suddenly by 10 000 000 000 when transaction needs to happen? something feels off

>> No.54332620

>>54332518
you are fucking retarded dude.

>> No.54332650

If Bitcoin absorbed all the world's GDP for 2022 of 96 trillion each Satoshi would be worth a nickel I think.

>> No.54332767

>>54332620
you're the retard until you explain why

>> No.54332834

>>54332767
You could still say "The solar system is worth about 1000T Bitcoin, even if there are only 21m Bitcoins in existence. Just like you can say "the solar system is worth about 10000000T dollars" even if there are only $xxx trillion dollars on earth. You just extrapolate.

But it is a moot point, because to be able to trade something of astronomical value (no pun intended) like a solar system or galaxy, you would first need to have an economy that spans multiple solar systems or galaxies. It is futile to think about buying something that big. Right now you could not even buy the earth with all the money on earth, let alone a solar system, let alone a galaxy.

>> No.54332889

>>54332834
valuing something more than 21 mil bitcoins feels weird and not normal

it's not futile to wonder about if things could be valued more than the fixed 21 millions limit, given how entrenched this idea is

my question is: what if you are "able" to trade it

>> No.54332920

>>54332365
Galaxies are pretty cheap actually. I bought andromeda from a friend of mine for $25. We signed a bill of sale and everything so its 100% legit

>> No.54332938

>>54332889
i just created 1 quadrillion WBTC where 1 WBTC= 1 BTC. now give me the galaxy's key you dumbfrog

>> No.54333019

>>54332889
>my question is: what if you are "able" to trade it
Then you would trade it against another galaxy.

It's a fun thought experiment but nothing more than that. You either possess something of equal value like another galaxy, or Bitcoin has to be valued so high that a few million btc is worth as much as a galaxy. If that is not the case, you will not be able to buy a galaxy with bitcoin. Simple as that.

>valuing something more than 21 mil bitcoins feels weird and not normal
Why? You can also value something in a quadrillion kg of gold even though there is not that much gold on earth.

>> No.54333072

>>54333019
it feels weird because I've never seen a situation where the 21 millions supply limit could be bypassed that way, it could be an argument used by skeptics: "how can bitcoin work if you can't even transact some things that are worth more than its total value?"

>> No.54333148

>>54333072
If you think about it, that is a limitation of everything that has value. If something you want to buy is more valuable than the asset you want to buy it with, you will have to find something else. Or combine multiple assets until you reach the value of what you are trying to buy.

If you want to buy something that is worth multiple trillions of dollars, you will have to use more than just money. There is not enough liquid cash in the world to support that trade. You would have to throw in huge plots of land, companies or other non-cash assets to make the trade work.

>> No.54333157

>>54332365
Oh yeah but like what if you want to buy all the water in the ocean haha. Looks like bitcoins dead

>> No.54333179

>>54332365
can you even name something that you can buy that's worth $10 trillion? $100 trillion? your question is just totally pointless and it feels like there's some kind of fallacy inside it

>> No.54333192

>>54333179
He's ramping up to say bitcoin is worthless. Like the other 50 anti bitcoin threads that pop up every time bitcoin goes up

>> No.54333317

>>54333148
and what if there is money, debt or some kind of derivatives built on top of bitcoin, would the value of that be part of the total value of bitcoin, or would the value be "separate"?

>> No.54333472

>>54332365
You just price it beyond the supply
Imagine there's only 10,000 gold bars on earth
>but what about the potential gold 800 lightyears away
Fuck that for a second. For our purposes 10,000 bars is all that tangibly exists
You want to price the whole solar system etc
>it's worth 6 gorillion gold bars
and nigga?
Every money has this hypothetical problem, and you will say
>but we can just make more fiat and then buy the universe
Except you can't, for obvious reasons; the purchasing power of money is a function of its supply
>>54332889
Feels like you're just a few seconds away from realizing why the value of 1 BTC should be so high

>> No.54333687

How many Michael Jordan rookie cards is venus worth?

>> No.54333726

>>54332767
money isn't even real. that's why. its just an idea we use and believe in. but a dollar has no real value. at all. everything in existance is worth more than any "dollar" amount. as its just make belief b.s. you can't eat a dollar.

>> No.54333767

>>54332466
/thread

>> No.54333795

/biz/, with all its neurons and thinking power, fucking FINALLY logically discovers that value is subjective.
Congratfuckinglations, you have sucessfully refuted 60% of the left.

>> No.54333959

>>54333726
money definitely exists, look up the definition of real

>> No.54334074
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54334074

>>54332365
Price of a group of items doesn't have to be equal to the price of each individual item in that group added together. In other words, price of galaxy would be something like 1 million BTC even though if you add up everything in that galaxy, it might be hundreds of millions of BTC.

>> No.54334486

>>54333959
its imaginary. a dollar doesn't exist. its an idea. and the paper dollar bill is a way to try and materialize the non existent imaginary unit. called a dollar

>> No.54334502

>>54334486
>>54333959
in effect the 100 dollar bill is just a piece of paper with some writings on it. and the 1 dollar bill is exactly the same. bank credit is similar. just a bunch of numbers that don't actually exist in the physical world

>> No.54334516

>>54332365
The word you're looking for is "priceless"

When the sum of the value is greater than the sum of all money, it's called "priceless"

>> No.54335311

OP is right, everyone insulting him is a total retard
you can always make more dollars, then you can buy valuable things
how can bitcoin be supposed to money if you can't buy everything with it, it makes no fucking sense
imagine a world running on bitcoin, eeverything is bitcoin, you can buy anything with bitcoin, but when you run out of bitcoin, how the fuck do you buy anything? Its a complete disaster

>> No.54335715

>>54334502
>>54334486
the value of money exists and is a result of a consensus, it's not imaginary, look up the idea of imaginary
something that have a direct impact on reality isn't imaginary

>>54335311
I think the idea is that the value of available bitcoins is supposed to scale up in order to allow transactions, it's a fixed supply in an infinite world so the value will always grow, with technological advancements probably
if half of bitcoin are lost, the price of the remaining bitcoins would x2

>> No.54337713

OP if you put it like that clearly 0 iq retards here will say shit like "you can't buy the galaxy lololol". Remember, the correct way to talk to people about big things (infinity included) is just repetition. So a correct example would be "ok, a guy says its salary is 1k BTC per minute and i want to hire him: what happens after X days?". This helps retards to understand it.
Anyway someone already answered correctly, it's a no-issue.
>>54335311
little retard, if you print more money, money loses value, simple as that. Correct analogy is: what happens when we run out of gold? We switch to other metals? What happens when we "run out" of anything, really?
We'll just use sats instead of the whole btc. Then, half of a sat, and so on. You can also fraction something to keep the total value unchanged, which is what you want. You don't need to have an infinite total to have infinite fractions, ie units of value.

>> No.54337750

>>54337713
*always, not "also"

>> No.54337767

>>54332365
Space is fake

>> No.54337939

>>54332920
Did he give you a cert of auth? He might be flipping bootleg shit.

>> No.54338264

>>54332365
>

Kind of like saying what happens if you price something at 100 Quadrillion dollars. Impossible, but even if you did that such an item wouldn't be obtainable.