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RE: Bitcoin is Too Expensive: Unit Bias and Halo Effect
My father used to tell me it is useless to own less than 1 bitcoin because it is hard to get rid of it if you want to sell. Why would anyone want less than 1?
These are all arbitrary numbers. What if there was only 1 Bitcoin total in existence? Would you still need 1 (all of them) for it to be worth it?
What about coins that have billions/trillions of tokens in circulation? Are they somehow a 'better deal' because someone decided to mint more coins and dilute the value of this arbitrary number?
I also don't understand why anyone would want more Bitcoin because they are hard to sell. The more you have the harder it is to sell. Also, it's not hard to sell, so... seems like nonsense to me. If you sold 13 Bitcoin on Coinbase right this second the price would only go up $1.