Although Satoshi Nakamoto never mentioned a supply cap in his big white paper, the first white paper on Bitcoin, this facet of cryptocurrency has quickly become of paramount importance. In fact, many have argued that the fact that there would be only 21 million BTC would be the main factor determining the value of Bitcoin, especially in a world characterized by inflation due to the crisis.
$ 11 bitcoins for every human being alive
According to the towel specialist, directed by Hodlonaut, Bitcoin enthusiast based in the Netherlands, there are only 300,000 satoshis (0.003 BTC) available for every living human today. At current market valuations, such an encrypted sum is valued at $ 11, the minimum hourly wage in a number of US states.
If everyone on the planet had an equal number of bitcoins, we would each have 0,0003 bitcoins (300,000 sats). Today, you can buy this amount for a little more than a dollar. It will not always be like that. https://t.co/JheGzo9g4t
– dennis crabs ? (@ poinseaux) February 24, 2019
Although $ 11 of investable disposable income may be difficult to obtain for some, many cryptography enthusiasts have responded by noting that it would be unwise for potential investors to go above their allocation of 0.003 BTC.
Josh Rager, advisor to TokenBacon and BlackWave, even noted that after the current market cycle, few members of the "general population" would have the financial means to offer a full BTC, adding that it would be wise to accumulate bitcoins before it can be too late.
There is not enough Bitcoin to go
This comes as public opinion has grown that there is simply not enough bitcoin to go around.
Australian Cryptography researcher Willy Woo, known for his in-depth technical analysis of cryptocurrencies, recently explained why he expected Bitcoin's market capitalization "to easily exceed" that of traditional gold.
Woo, quoting a space article describing the extraterrestrial infant mining industry, noted that the mathematical scarcity, which Bitcoin used, "beat the perceived scarcity". Reference to the article, which claimed that billions, even billions and billions of dollars worth of gold and other precious metals could exist in asteroids close to the Earth, Woo noted that " the perceived scarcity comes only from current technological limitations ".
In other words, the hegemony of gold as a de facto store of value could be usurped over time, all the more so as humanity's continued demand for gold continues and reserves on Earth diminish, creating a gold rush into space.
Misir Mahmudov, the supposed brother of Murad Mahmudov, a short-term crypto bear, has taken up the feeling of Woo's rarity in a different context. Misir, an Austrian economics student, remarked that even if every millionaire in the United States wanted a single BTC, "they could not." The crypto enthusiast added that there would always be less CTB than millionaires in the world. , highlighting the ceiling of 21 million pieces of Bitcoin.
Although Misir's statement may seem wrong, especially since, according to a report by CNBC, 10.7 million Americans have a net worth of seven figures, this researcher in cryptography probably takes into account other factors. For example, a research paper by Chainalysis, a New York-based cryptanalytical unit, revealed that 3,790,000 BTCs could be lost to the benefit of the ether.
These factors have left many crypto insiders and decentralizers, such as Nick Szabo, Max Keizer, the Winklevoss Twins, Lou Kerner, among others, to say that it's only a matter of time before BTC wins. field as a digital reserve of value.
But it is okay? For the moment, no one can be too sure.