What happens when Bitcoin runs out?

So what happens when Bitcoin supply runs out?

I have been thinking of this non stop as I can not put my finger on this. So help me out if you can. Here is what I have been thinking about:

 

Some information:

There are 21,000,000 Bitcoin. So here is the thing anyone who has traded stocks on stock exchanges would know 21 million shares in a company is absolutely tiny so keep that in mind as we talk about Bitcoin supply and demand and the problem it may cause. What I am suggesting is that compared to the hundreds of thousands of companies listed on stock exchanges the amount of Bitcoin (Translated to shares) is tiny its so small its not funny. 

 

 

Next challenge is …. Market cap vs shares available. Ok so show me companies on stock exchanges that have 21,000,000 shares in circulation that have Bitcoins Marketcap.  

Look I love Bitcoin but if you have demonstrated a company with 21,000,000 shares with a similar market cap you would have shown me a company that has enormous REVENUE. 

Ok so put that to one side… Lets forget revenue. Lets pretend Bitcoin is a commodity.  Lets compare it to gold a safe stock economies turn to in panic times. To my knowledge commodities do not produce revenue… the companies surrounding that commodity may but not the material itself. 

Here is what I find interesting and there are crazy claims here:

There are only 21,000,000 Bitcoin (That’s not very many) What will happen when Bitcoin runs out?

Bitcoin did have a shady past with many criminals using it to trade as alleged with Silk road traders. My question is how many Bitcoin were lost by criminals. Look I think there are smart criminals out there however if you watch the news and listen carefully I am guessing that there are lots of drug affected low level criminals that had no idea what Bitcoin actually was and at that time would have accepted it for payment not knowing what the future held. Not only would they not know what its current value was they would not know how to access it now…Meaning lost Bitcoin. 

 

OK so dumb drug effected criminals can not access the old Bitcoin. The reason I raise this is that it takes away from the supply that is currently in the Bitcoin market.  Read more below:

 

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So what happens when Bitcoin supply runs out?

So Bitcoin is slowly running out! Criminals have some who has the rest?

  • Big institutions: As reported big companies and institutions are now rushing to secure Bitcoin… Why… Well It could be because they are hedging their bets. Another reason with all due respect Bitcoin is “Cool”.  So if its cool and perhaps necessary well then why risk missing out and looking bad. The old FOMO but at a corporate level. 

So you have corporates, and criminals soaking up the supply so far. What is next…. Here is what:

Community: Ok so go to twitter and type in the explore button “Cryptocurrency” There is thousands of posts every hour. 

The average punter is excited about cryptocurrency and bitcoin is the first go to crypto. 

The average punter can never afford one BTC, lets face it at 20,000 its out of most folks reach to get involved. So they finally work out that they can just buy a portion of the BTC. So then you have millions of people buying LITTLE bits of Bitcoin.

That’s fine! go for it! Invest jump in do your thing. But what is actually happening is Bitcoin as an ecosystem then introduces a risk with newbies…Newbies are likely to invest just a little… They are more likely to loose their wallets, forget about it, forget their seed or if there is a crash mentally just say … You know what worth the gamble and completely forget about the tiny amount of Bitcoin they bought. 

Ok so my point is that the total amount of supply is draining and getting smaller and smaller. Corporates, Criminal and Community so far. 

Next is Wallets! Ok so just talking personally… I have a dozen different wallets across different platforms and I bet I am not alone. I have Coinbase, Binance, Free Faucets, Metamask for me to actually work out my total Bitcoin I would have ZERO idea. I did not do this on purpose its just due to the structure and I am not consolidating the Bitcoin it is not worth it on a small level. 

So my point is there are various factors that are reducing the supply…What happens when supply dries up… UP down UP down… Hmmm 

 
 
 

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Citigroup Inc bullish on Bitcoin

Citigroup has been reported to say that the bank has been partnering with central banks globally to build Central Bank Digital Currencies. Speaking on Friday CEO Michael Corbat  said at the Bloomberg Invest Talks ” CBDCs are the inevitable future of money”. Michael Corbat , who took over at the helm in 2012, didn’t reveal the specific governments the bank was working with.

“We’ve been working with governments around the world in terms of the creation and commercialization of sovereign digital currencies. I think it’s inevitable that they will be coming,” said CEO Michael Corbat.

What are your thoughts here are some on the topic from twitter: The central banks and governments are stimulating and markets are at all time highs, this seems to indicate that the fed and CB’s can see a problem that others cannot, otherwise why need stimulus? On a valuation basis we are at all time highs, consequently future stock returns look poor. Pretty soon Monopoly will have to issue a hyper-inflation edition of the classic board game. When a kilogram of bread will cost $50 in 10 years, you’ll be glad you chose bitcoin in 2020. There may be a wall of institutional money coming 2021.  Silver may also be the next to move due to AOC’s Green New Deal. Many are predicting a  bright future for gold silver Bitcoin and entrepreneurs.

 

 

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Craig Wright says Bitcoin was never designed to be censorship resistant

Dr Craig Wright explains that $Bitcoin was not designed to be censorship resistant, why that is the case? as well as why the nodes in a network have a hierarchical structure?

Dr Craig Steven Wright is an Australian software businessman. Dr Wright in the past publicly claimed to be the main part of the team that developed $Bitcoin, and the mysterious person behind the pseudonym Satoshi Nakamoto. These claims unfortunately are not believed by most of the cryptocurrency community base.

What appeared to initially trigger Dr. Wright’s response was a statement in the magazine that said:

In the ideal configuration, P2P networks shouldn’t have any hierarchy (all nodes are equal), and nodes should share the network load uniformly. This basic layer of a mesh of interconnected nodes is what helps Bitcoin to be censorship-resistant.

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In the last week Bitcoin has surged 15% but Ethereum is up 20%

Eveyone knows that Bitcoin is on fire right now however the second largest cryptocurrency is also on fire after rallying up 20% in the past week.  So hodl’rs of bitcoin will be super happy as the monster coin skyrocketed up 15% in the past week to hit a new high just under $20,000 USD and meanwhile just behind the monster coin Ethereum the second-largest cryptocurrency after Bitcoin  is up more than 20% in the past 7 days. 


And with other news XRP, the third-largest has surged nearly 25%. Many other smaller ALT coins are also skyrocketing due to they have more room to move in multiples. Some people are saying well if Bitcoin goes up to $100k then that is only a 5 times multiple where I can see a 20 times multiplier in more affordable cryptocurrencies. 

Bitcoin = $360 billion Ethereum’s =  $70 billion XRP’s = $30 billion. Litecoin = $6 billion

Swap your tokens below to get the best prices across all decentralized crypto exchanges.

Bitcoin given as loyalty rewards by Visa!

Check this out there is a new visa card issued by Visa Inc. who has partnered with cryptocurrency start-up BlockFi to offer a visa credit card that rewards purchases with Bitcoin instead of airline miles or cash.


This means that people who have the card will receive 1.5% of their purchases back in the world’s most-valuable digital asset, and a lump sum $250 in the crypto-asset if they spend more than $3,000 in the first three months, BlockFi said in a statement. 


The card, will be issed by Evolve bank & Trust. For more information see Blokfi

With Blokfi you can Earn interest, borrow cash, and trade crypto. There are no hidden fees in a BlockFi Interest Account—just an annual return of up to 8.6% that starts accruing immediately, plus compounding interest every month.

 

Founded in 2017 by Zac Prince and Flori Marquez, the company was created with the goal of providing credit services to markets with limited access to simple products like a savings account. BlockFi sets itself apart from other cryptoasset service providers by pairing market-leading rates with institutional-quality benefits. The company is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi and Coinbase Ventures. The BlockFi team consists of professionals with a deep bench of expertise across financial services and technology with offices in New York, New Jersey, Poland, and Argentina. Additionally, Gemini Trust Company, LLC, a New York trust company regulated by the New York State Department of Financial Services, is BlockFi’s primary custodian.

Bitcoin and Cryptocurrency market cap bigger than large banks

Did you know that in November 2020 the market capitalization of Bitcoin currently sits at over 200 billion USD. The market cap is total suppply of bicoin multiplied by the price.The At its prior peak the Bitcoin market capitalization increased from approximately 1.02 billion U.S. dollars in the second quarter of 2013 to peak at 238 billion U.S. dollars in the last quarter of 2017.

Here is a diagram from Crytpo dreams that we liked showing Bitcoin marketcap at 350 Billion comparing it to JPM Chase at 349 Billion, ICBC China at 251 Billion, BAC United States 231 Billion. CCB China 192 Billion. 

 

As you would be aware the most  popular cryptocurrency in the world is Bitcoin, The leader takes the top position in charts with almost 69% market dominance. I is not likely ly that any other cryptocurrency coin or token could overtake bitcoin in terms of crypto market capitalization in the near future. The second largest cryptocurrency is Ethereum.