Bitcoin can be infinitely divided, but that does not mean the total supply is unlimited.

In the discussion of Bitcoin's value, there is a common misunderstanding: "Though the total amount of Bitcoin is fixed at 21 million, it can be infinitely divided, so the actual quantity is infinite." This statement seems reasonable at first glance, but it actually confuses the essential distinction between "divisibility granularity" and "total supply."

1. Splitting ≠ Issuance, changes in units do not alter the total amount.

Bitcoin indeed supports fine segmentation, with the smallest unit being 1 Satoshi (1 Bitcoin = 100 million Satoshis). This design enhances transaction flexibility, especially for micro-payments when prices are high. However, it should be made clear:
The split is just a unit conversion, not an increase in quantity.
Just like 1 ounce of gold being cut into 1000 pieces, the total amount remains 1 ounce, and it won't create "new gold" due to the division. The total supply of Bitcoin is always constant at 21 million, and splitting only changes the measurement method without increasing the overall supply.

2. Market capitalization determines value, and splitting does not affect the relative proportions.

The core value indicator of Bitcoin is total market capitalization (unit price × total supply), rather than the superficial "unit quantity."
For example, if its market value reaches 10 trillion USD, whether holding 1 Bitcoin or 100 million Satoshis, the holder's value share in the entire system remains unchanged. The significance of splitting lies only in facilitating transactions and measurements, and it will not dilute any holder's relative value.

3. Decentralized Assurance: Total supply is immutable, scarcity is solidified.

Unlike fiat currencies that can be issued freely and stocks that can be diluted at the company's discretion, the scarcity of Bitcoin is supported by two main pillars:

- A total absolute limit of 21 million, and no institution can unilaterally change it;
- A high level of consensus among global nodes is required to adjust the rules (which is practically impossible in practice).

This decentralized mechanism ensures the "anti-dilution" of Bitcoin, which is also the core logic behind its being called "digital gold."

Conclusion: Playing people for suckers is a technical optimization that does not change the essential scarcity.

Equating "infinite division" with "infinite supply" confuses the concepts of "unit" and "total amount". The scarcity of Bitcoin originates from a constant and transparent supply, a decentralized anti-dilution mechanism, and a trust system supported by global consensus. Division is merely a technical design to enhance transaction convenience, and it has never changed, nor will it ever change, the finite nature of its total amount. #Gate 8月储备金报告出炉#