This is why we already have 17 million coins in circulation and the remaining 4 million only available over the next 120 years.

Satoshi was very smart.

He knew most new technologies usually take a minimum of 10 years to gain any real traction.

He wanted to issue as many coins as possible within the first 10 years to keep the price suppressed so as many average people as possible could obtain cheap coins during the bootstrapping phase.

What happens next is mainstream adoption and institutional demand run smack into severely reduced supply and the price explodes very quickly to a much higher "normal".

This was the most egalitarian way to introduce a new form of money. He honestly was also very aware of the fact that libertarians and programmers would be the first involved and would therefore become the new wealthy elite while banks and politicians tried everything to stop it, becoming less powerful in the process.

Bitcoin was ingeniously designed to transfer wealth towards libertarians, nerds and average citizens and away from corrupt incumbent politicians and financial institutions.

Submitted May 13, 2018 at 06:03PM by slvbtc https://ift.tt/2rFkKla