I've watched bitcoin for a number of years, but never heard of "Bitcoin Infinity" day until now. Evidently, it's a play on 8/21, dividing the infinity symbol by 21 million. But, I don't quite understand what the purpose of the whole thing is. Could someone explain it?
pull down to refresh
42 sats \ 1 reply \ @random_ 21 Aug 2023
AFAIK this is the origin
reply
10 sats \ 0 replies \ @DarthCoin 21 Aug 2023
THIS is the best explanation
reply
21 sats \ 0 replies \ @birdeye21 21 Aug 2023
If Bitcoin is to become the global reserve currency, what's the "price" that Bitcoin has to reach for its 21 million coins to account for all of the value in the world?
The epiphany: It's going up forever (Laura).
There is no "top." BTC's price, to account for ∞, must also be $∞. BTC is money that increases our purchasing power over time, not decreasing like it does with infinite fiat currency units that are ever inflating towards 0 in terms of purchasing power.
But the epiphany on top of the epiphany is: Bitcoin is not going up forever (Laura), the cost of everything else is going down against Bitcoin. BTC is the stablecoin while technological innovation drives the cost of everything else lower over time.
Technological deflation doesn't mesh with currency inflation -- and it's impeding humanity's ability to progress, causing endless social strife, and general friction in all of our lives.
Fiat forces us to speculate with our money to outrun inflation, but what if we removed currency inflation altogether? How much more productive do we become as a species?
reply