Skeptic: bitcoin is a Ponzi scheme with unlimited supply

Bitcoin (BTC) is rebounding, but that doesn’t stop its critics from criticizing it. This has even prompted them to step up their attacks on the world’s largest cryptocurrency: calling the holders of bitcoin (BTC) irrational, questioning its scarcity, calling it fraud, and questioning whether it is money or what it is. How to feed the world with pizzas? Most of the criticism about BTC scarcity seems to come from people who either don’t know the bitcoin cap of 21 million, or don’t understand the concept, or they don’t have a clear intention. In either case, this time, after Frances Coppola, a longtime BTC skeptic financial commentator, made a series of tweets about bitcoin, in which she claimed that “segmentation eliminates scarcity.”. According to her, bitcoin players are “irrational,” indicating that this is their default feature, because they believe in “a hard cap that will appear long after all people are dead.”. As we all know, the last BTC should be mined sometime after 2100, depending on the mining capacity of the network. “Bitcoin holders” believe that bitcoin is “the scarcest asset in the world,” she continued, although the supply of bitcoin is increasing and it can be subdivided so that there is no scarcity at all. “. To be honest, while miners generate about 900 new BTCs a day, supply is halved every four years, as we saw when bitcoin was halved for the third time this year. At the same time, the subdivision of bitcoin into satoshis (the smallest unit of BTC) means less scarcity. A bitcoin has 100 million satoshis, while there are about 7.8 billion people on the planet. In theory, each person can get about 269000 satoshis. However, it is also possible to introduce new decimals, but the same BTC will be assigned. Soon, a lot of people on twitter refuted Frances Coppola’s argument, because the value of a bitcoin remains the same no matter how many pieces it is cut into. Ben Carman, the bitcoin developer, wrote: “bitcoin has been around for 12 years, and the most vocal critics are those who don’t know the score. “。

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