Columbia Basin, Ephrata, WA | Deltamudd - 11/21/2024 12:50
The satoshi thing came later when they forked it. But that’s a satoshi. That’s not a whole Bitcoin. Dividing a dollar up into Pennie’s and giving a penny to someone that person doesn’t own a whole dollar.
Essentially most brokers that you buy btc from have a fixed supply and they divide it up into satoshis (iou) but they retain ownership of their keys and therefore their Bitcoin.
All brokers are just lending you fractional ious at 0% interest. You don’t actually own the stock or Bitcoin. Even if they put a satoshi in your account you still don’t own that satoshi. You retain possession of it until you sell or broker belly’s up
But again for the more dense
IF YOU DONT OWN THE KEY YOU DONT OWN THE BITCOIN
Makes no difference who owns the bitcoin. They have zero intrinsic value. They’re not a thing, they’re a belief.
Beliefs are infinite, and can be sold as long as someone will pay. Just look at how much money the Catholics raised selling indulgences.
Edited by Big Ben 11/21/2024 17:30
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Bitcoin
