Thursday, September 18, 2014

The cheaper Bitcoins are, the less time we have

The Bitcoins are restricted. In 2020 we will have only 6 BTC as a mining rewarding & 18 million Bitcoins which is very close to 21 million limit.

But the quantities of forgotten Bitcoins are much greater than you think. According to my math I made by my own blockchain analysis - there's 6 million Bitcoins lost (!).

Today we have 13 million Bitcoins - minus 6 million lost. Minus 3 million of those people who will never withdraw their Bitcoins - that means 13-6-3=4 million Bitcoins in circulation.

Only 4 million Bitcoins in circulation WTF?!? Even less, because there's around 2 million among those 4, who will never withdraw their Bitcoins for next 12 months.

Those price tag which you see for Bitcoin at Google or BitcoinWisdom or anywhere else only showing you what people think it should be. Those who sell their Bitcoins has no measure - they're thinking like this "$412 for 1 Bitcoin is still great price, because I've spent nothing on this". And believe me anyone who sells their Bitcoins now at such price - it is mostly this kind of people. And there's plenty of them. Now. But not in future, because when they will meet physical barrier, or fiscal deficit of Bitcoins, that's when their theories about Bitcoin will collide & that's when the price will go crazy.

2 comments:

  1. An interesting View! I already thought about it a bunch of times! expect da 2nd BUBBLE

    ReplyDelete
  2. the next block-reward halving in 2016-2017 will be the single greatest economic event the world has ever seen

    ReplyDelete