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To: T.B. Yoits
since each transaction tracks the serial number

But bitcoin is constantly being manufactured. There are an infinite number of bitcoin serial numbers

40 posted on 05/20/2021 5:05:57 PM PDT by FatherofFive (We support Trump. Not the GOP)
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To: FatherofFive

“But bitcoin is constantly being manufactured. There are an infinite number of bitcoin serial numbers.”

Nope - only 21 Million bitcoins will ever be produced. Even taking Bitcoin to its smallest subdivision, the Satoshi, there will only ever be 2.1 quadrillion of them.


43 posted on 05/20/2021 5:11:54 PM PDT by CraigEsq
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To: FatherofFive
But bitcoin is constantly being manufactured. There are an infinite number of bitcoin serial numbers

While there is an infinite number, it takes time to mine (validate) them, and that development time is calculated into the value of the existing coins. Bitcoin mining requires an Application-Specific Integrated Circuits (ASIC) hardware device which is expensive and consumes a lot of electricity. It can take months to a year to overcome the ASIC and electricity cost to start earning profit.

Keep in mind that governments have an infinite number of zeros and ones they can inject into a financial system. They can be easily and fraudulently shown to exist as "value" in multiple locations. With cryptocurrencies, at least each coin is serialized and takes its financial history with it.

63 posted on 05/20/2021 6:00:32 PM PDT by T.B. Yoits
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To: FatherofFive
"since each transaction tracks the serial number But bitcoin is constantly being manufactured. There are an infinite number of bitcoin serial numbers "

No there isn't and it's clear you don't understand Bitcoin at all. There are about 21 million bitcoins that can ever be mined and about 17 or so mil have already been found. The supply of bitcoin is fixed at 21 mil. It's supply and demand and the supply is limited.

81 posted on 05/20/2021 6:32:33 PM PDT by precisionshootist
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