Have no fear. We're not going to be running out of BTC any time soon. lol There are 900/day, 6300/week, 27,000/mo newly mined Bitcoin being created. That's every day, every week, every month for the next 3 years. At these prices, that's $315M of new money that needs to flow into the market EVERY WEEK to eat up the supply. Obviously, that number doubles when the price hits $100k. So, while there is a lot of money flowing into the market and coins are being taken off exchanges, there still is a goodly supply coming available. Next time the price spikes I'm sure the miners will sell a bunch off again and the market will be flooded with plenty of BTC to buy if you want. In the meantime, I think the fact we're maintaining these prices and floating upwards slowly is a VERY bullish sign. The longer we trade in this range, the less likely the price will break below it next time there's a big selloff..
However $315M a week is nothing if the banks or big players gets involved but it doesn't look like they want to. Mainly because it will hurt their control over the system if they start focusing on BTC.
It doesn't rule out Apple and Amazon from investing and taking it out. It's kind of chump change compared to their trillion dollar valuations where they sell some stock every week.
No question. There's obviously a lot of money out there buying Bitcoin just to maintain its price, let alone move it up. And, realistically, most of those "new" coins are probably being hodled by the miners for now so they're not affecting price. I'm just saying that there is still plenty available for people who want to buy. I know he was kidding but...I just thought it was a good place to throw in the metrics.
I would disagree. Look at it from the token perspective, not in USD.
There are what, 14 million BTC available when we factor in those that were lost (estimated to be about 4 million). Yes there are 900 more a day coming to market yet that is not going to go very far.
Microstrategy alone as close to 100K Bitcoins. Those are basically locked away for a long time. The same is true for most of these institutions. They will simultaneously use it to ride the long term appreciation as well as strengthening their balance sheets.
I see BTC as being in a liquidity crisis. The demand is far exceeding the supply, regardless of what the price is.
Even a 10x in the price of BTC, using your number, is $3.15 billion per week. That is basically two Tesla orders, not much for Wall Street and corporate America.
Their support of Bitcoin sure helps it stay less volatile, which's been needed for the masses to jump in. Nobody likes to buy something and watch it go up and then way down all the time.
sincerely every investor want to invest on something that will give them profits so of course you are right,they will not want to invest on bitcoin and watch it come down,....@tbnfl4sun
I remember when this all first started, thinking it would take forever to mine all of those Bitcoin. But we're getting closer each day.
It is nice to finally see the long-awaited-for adoption finally happening, though. I did think Satoshi would have been unmasked by now and am pleasantly surprised the mystery remains. Let it be so...
We are going to look back on the time when we had an Internet that was siloed and realize how ridiculous it was to give power to the likes of PayPal, Facebook, and Google.
These companies do not operate in the best interest of anyone but themselves. Sadly, they are run by psychopaths who are intent on destroying humanity for their own gain.
@steem-key that is a huge buy and i think that news could bring some bullish boost to the bitcoin market and this new week we might see the bitcoin reach $60000 before end of the new week...
Have no fear. We're not going to be running out of BTC any time soon. lol There are 900/day, 6300/week, 27,000/mo newly mined Bitcoin being created. That's every day, every week, every month for the next 3 years. At these prices, that's $315M of new money that needs to flow into the market EVERY WEEK to eat up the supply. Obviously, that number doubles when the price hits $100k. So, while there is a lot of money flowing into the market and coins are being taken off exchanges, there still is a goodly supply coming available. Next time the price spikes I'm sure the miners will sell a bunch off again and the market will be flooded with plenty of BTC to buy if you want. In the meantime, I think the fact we're maintaining these prices and floating upwards slowly is a VERY bullish sign. The longer we trade in this range, the less likely the price will break below it next time there's a big selloff..
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Thanks for doing the math.
However $315M a week is nothing if the banks or big players gets involved but it doesn't look like they want to. Mainly because it will hurt their control over the system if they start focusing on BTC.
It doesn't rule out Apple and Amazon from investing and taking it out. It's kind of chump change compared to their trillion dollar valuations where they sell some stock every week.
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No question. There's obviously a lot of money out there buying Bitcoin just to maintain its price, let alone move it up. And, realistically, most of those "new" coins are probably being hodled by the miners for now so they're not affecting price. I'm just saying that there is still plenty available for people who want to buy. I know he was kidding but...I just thought it was a good place to throw in the metrics.
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I would disagree. Look at it from the token perspective, not in USD.
There are what, 14 million BTC available when we factor in those that were lost (estimated to be about 4 million). Yes there are 900 more a day coming to market yet that is not going to go very far.
Microstrategy alone as close to 100K Bitcoins. Those are basically locked away for a long time. The same is true for most of these institutions. They will simultaneously use it to ride the long term appreciation as well as strengthening their balance sheets.
I see BTC as being in a liquidity crisis. The demand is far exceeding the supply, regardless of what the price is.
Even a 10x in the price of BTC, using your number, is $3.15 billion per week. That is basically two Tesla orders, not much for Wall Street and corporate America.
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this says it all
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Their support of Bitcoin sure helps it stay less volatile, which's been needed for the masses to jump in. Nobody likes to buy something and watch it go up and then way down all the time.
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@tbnfl4sun and when the masses jump in,it will help the bitcoin market to grow more and more,and everyone is happy...
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sincerely every investor want to invest on something that will give them profits so of course you are right,they will not want to invest on bitcoin and watch it come down,....@tbnfl4sun
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I remember when this all first started, thinking it would take forever to mine all of those Bitcoin. But we're getting closer each day.
It is nice to finally see the long-awaited-for adoption finally happening, though. I did think Satoshi would have been unmasked by now and am pleasantly surprised the mystery remains. Let it be so...
Posted Using LeoFinance Beta
Satoshi was smart to do it anonymously. He/she/them had an idea what would be set off and having a face to it could have destroyed it.
We are now past the point to do anything yet Satoshi might end up as the richest person in the world if it is an individual.
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Remember Phil Zimmerman of PGP? He had to go to Mexico and upload the software to get around export restrictions at the time.
I remember thinking how silly it was at the time and am so thankful we have come out of those digital dark ages.
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We still are in the digital dark ages.
We are going to look back on the time when we had an Internet that was siloed and realize how ridiculous it was to give power to the likes of PayPal, Facebook, and Google.
These companies do not operate in the best interest of anyone but themselves. Sadly, they are run by psychopaths who are intent on destroying humanity for their own gain.
We need to reverse this trend.
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In a while, only a small portion of investors will have some satoshis to insure while the big companies will keep the rest of the BTC.
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@steem-key that is a huge buy and i think that news could bring some bullish boost to the bitcoin market and this new week we might see the bitcoin reach $60000 before end of the new week...
Posted Using LeoFinance Beta