Topic: Bitcoin Will Never Go To "Free" (Read 524 times)
Actually it's not ad infinitum. By 2140 there will be no more rewards in terms of new mined coins, all the rewards will come from transaction processing. But yes you are right for the rest of the post. Just wanted to make this nerd appreciation.
There will only ever be 21 million, and I can personally attest that bitcoin priced below $100 triggers in many a buying frenzy. Bitcoin priced below $50 triggers a ravenous feeding frenzy. Bitcoin below $10 is an absolute impossibility unworthy of serious consideration.
How people can worry that bitcoin will ever be "free" I cannot comprehend. It need not even get close before me and millions of likeminded gorge ourselves on cheap bitcoin.
If price is a play on deviations between supply and demand, it follows that for bitcoin to fall to "free" the demand for bitcoin would have to also fall to zero.
Today 25 bitcoins are created every 10 minutes!!! In 2016 that is halved to 12.5! In 2020 only 6.25. In 2024 only 3.125. ad infinitum. There are more bitcoins currently in circulation compared to the demand for bitcoin to justify prices above what it is currently in stable formation. But there are not enough coins for every one in the world. Not everybody is going to get a bitcoin. Most will never see .1 BTC. This is the reality.
The current tiny fraction of humanity that holds and buys and spends bitcoin is enough demand to justify a price of $250 per coin while 25 bitcoins are generated every 10 minutes. What price will be justified when more people want bitcoins and less bitcoins are being generated?
How people can worry that bitcoin will ever be "free" I cannot comprehend. It need not even get close before me and millions of likeminded gorge ourselves on cheap bitcoin.
If price is a play on deviations between supply and demand, it follows that for bitcoin to fall to "free" the demand for bitcoin would have to also fall to zero.
Today 25 bitcoins are created every 10 minutes!!! In 2016 that is halved to 12.5! In 2020 only 6.25. In 2024 only 3.125. ad infinitum. There are more bitcoins currently in circulation compared to the demand for bitcoin to justify prices above what it is currently in stable formation. But there are not enough coins for every one in the world. Not everybody is going to get a bitcoin. Most will never see .1 BTC. This is the reality.
The current tiny fraction of humanity that holds and buys and spends bitcoin is enough demand to justify a price of $250 per coin while 25 bitcoins are generated every 10 minutes. What price will be justified when more people want bitcoins and less bitcoins are being generated?
if we at some point within a certain amount of years manage to nearly double the amount of users with just 12.5btc per block being generated, i think $1000-$1500 is fair. if we manage to double the amount of users of course.
There will only ever be 21 million, and I can personally attest that bitcoin priced below $100 triggers in many a buying frenzy. Bitcoin priced below $50 triggers a ravenous feeding frenzy. Bitcoin below $10 is an absolute impossibility unworthy of serious consideration.
How people can worry that bitcoin will ever be "free" I cannot comprehend. It need not even get close before me and millions of likeminded gorge ourselves on cheap bitcoin.
If price is a play on deviations between supply and demand, it follows that for bitcoin to fall to "free" the demand for bitcoin would have to also fall to zero.
Today 25 bitcoins are created every 10 minutes!!! In 2016 that is halved to 12.5! In 2020 only 6.25. In 2024 only 3.125. ad infinitum. There are more bitcoins currently in circulation compared to the demand for bitcoin to justify prices above what it is currently in stable formation. But there are not enough coins for every one in the world. Not everybody is going to get a bitcoin. Most will never see .1 BTC. This is the reality.
The current tiny fraction of humanity that holds and buys and spends bitcoin is enough demand to justify a price of $250 per coin while 25 bitcoins are generated every 10 minutes. What price will be justified when more people want bitcoins and less bitcoins are being generated?
How people can worry that bitcoin will ever be "free" I cannot comprehend. It need not even get close before me and millions of likeminded gorge ourselves on cheap bitcoin.
If price is a play on deviations between supply and demand, it follows that for bitcoin to fall to "free" the demand for bitcoin would have to also fall to zero.
Today 25 bitcoins are created every 10 minutes!!! In 2016 that is halved to 12.5! In 2020 only 6.25. In 2024 only 3.125. ad infinitum. There are more bitcoins currently in circulation compared to the demand for bitcoin to justify prices above what it is currently in stable formation. But there are not enough coins for every one in the world. Not everybody is going to get a bitcoin. Most will never see .1 BTC. This is the reality.
The current tiny fraction of humanity that holds and buys and spends bitcoin is enough demand to justify a price of $250 per coin while 25 bitcoins are generated every 10 minutes. What price will be justified when more people want bitcoins and less bitcoins are being generated?
Jump to: