Justin

Father, Husband, Marine, Bitcoiner, Lions fan.

[Justin @RentonJustin]

@JimCosta_ That was a tough watch huh? Solid start, lost it early in the second. Don't feel much like Hockeytown anymore!

[Justin @RentonJustin]

#lgrw Umm, what the hell was that? Hockeytown? Not anymore, just the joke of the NHL. Sell the team!

[Justin @RentonJustin]

@jackmac Yep, junior year of high school.

[Justin @RentonJustin]

@HonoluluBlues_ Barry Sanders Puma jersey

[Justin @RentonJustin]

@MoheganBTC I heard everyone's stack gets cut in half.

[Justin @RentonJustin]

@MoheganBTC Wonder what the price will do when the markets open in Asia later today

[Justin @RentonJustin]

@LayerOne72736 @olvelez007

[Justin @RentonJustin]

@ZachDWest @olvelez007 And we got a great dip and buying opportunity today!

[Justin @RentonJustin]

@TheBTCTherapist And I was thinking it would be a quiet weekend watching the Masters. #Bitcoin

[Justin @RentonJustin]

@MoheganBTC Oh my, should have waited a bit longer

[Justin @RentonJustin]

@KylePorterCBS 24 holes of competition golf.

[Rajat Soni, CFA @Rajatsoni]

"#Bitcoin    isn't scarce because you can split it into smaller units"

I'm going to break down why this is not true in a way that anyone can understand:

You have 2 whole pizzas that are not cut. Each one is identical in size.

If one pizza is cut into 10 slices while the other is cut into 8, does the one with 10 slices magically have more food?

No.

You have the same amount of pizza, but when you have 8 slices, each slice is 12.5% of a pizza and when you have 10 slices each slice is 10% of a pizza.

Now let's move away from pizzas and talk about Bitcoin.

The Bitcoin network issues a currency - BTC. There will only ever be 21,000,000 of these currency units. 1 BTC will always be 0.0000047619% of the network.

The 21,000,000 is arbitrary - the algorithm used by the network stops producing more coins when there are 21,000,000 in existence. This number could have been 100M, 500B, or 100T. It doesn't matter.

Each BTC can be split into 100,000,000 units called Satoshis. Smaller units means the network can handle smaller transactions.

You can compare BTC and Satoshis to Dollars and Cents. In total, there are 2.1 quadrillion Satoshis. Today you can buy ~1500 Satoshis for 1 USD. You can split $1 into 100 cents.

If I have 10,000 cents, do I have more money than someone who has $100?

No.

Both of us have 10,000 cents or $100. Each one is equal to the other! $100 X 100 cents = 10,000 cents

Similarly...

Just because you can split 1 BTC into smaller "slices", doesn't mean you magically have more BTC. You still can't make more than 21,000,000 BTC, each one consisting of 100,000,000 Satoshis.

Each Satoshi represents a % of the economic value of the currency. If you own 210,000 BTC, you own 1% of the value of the network, just like if you had a pizza with 8 equally cut slices, each slice is 12.5% of the entire pizza. 210,000 BTC = 21 trillion satoshis.

If you have 1 Bitcoin (100,000,000 Satoshis), your piece of ownership will always be 0.0000047619% of the network. At $1 trillion your 1 Bitcoin would be worth $47,619. At $10 trillion, your 1 Bitcoin would be worth $476,190. At $100 trillion, your 1 Bitcoin would be worth $4,761,900. It doesn't matter how many Satoshis your Bitcoin can be split into.

0.001 BTC (100,000 Satoshis) would be worth $4,762 at a $100 trillion market cap.

The only thing that matters is the total value of the network. The number of units doesn't matter.

Even if each Satoshi is split into a further 1,000 units, THE NETWORK'S SCARCITY REMAINS THE SAME.

Eventually, maybe we will get to a point when this is necessary. It doesn't mean Bitcoin is becoming less scarce. It just means you can process infinitely smaller transactions with the network.

[Cedric Youngelman ⚡️ @CedYoungelman]

What happens when demand is greater than supply and there is no way to increase production?

#Bitcoin

[Justin @RentonJustin]

@MoheganBTC Asian Markets in for a surprise this morning

[Justin @RentonJustin]

@MoheganBTC #Bitcoin for the win.

[Justin @RentonJustin]

@bencoates1 New APU with 1010 preservation oil, normal to see this on first start up.

[Justin @RentonJustin]

@mikealfred If you didn't buy bitcoin an hour ago at $68,800, that's OK because you can buy it back right now for $67,300. Discount!!

[Justin @RentonJustin]

Saylor not the only one buying up more coin. Getting my #Bitcoin   while I can.

[Justin @RentonJustin]

@MoheganBTC It's going to keep going up,and most people on X talking about it with conviction have no plans to sell, therefore it changes little in our day to day lives.