I live in Australia. We have 10x less people than the US and represent 0.3% of the worlds population. There will never be enough BTC for every Aussie to own a single coin.

Edit: Bitcoin in almost infinitely divisible, but I hope this post paints a mental picture of the scarcity and value proposition of this beast.

Edit2: Adding a reply to how this matters re price:

This is meant to demonstrate how rare 1 Bitcoin is.

Let me try and explain why it matters for price:

Sellers are simply persons, companies, exchanges etc that invested in Bitcoin earlier and are now cashing out. Some are short term speculators cutting their losses after fomo'ing in at the peak and some are maybe long term holders taking profit. Or maybe a bit of both, you might have a long term holder cashing out because they feel the price is going lower...my point is that this is really all just noise in the long term. Youre either building or youre not.

Then you will have good news, bad news, governments telling you this will be the next reserve currency, or bluffing that they can/intend to outlaw Bitcoin and everything in between influencing speculators. Again, its just noise.

What matters is that say after all the noise there are net 10,000 genuine long term beleivers/builders still buying precious Bitcoin in 2019. That means that every now and then, they use their fiat to buy a little more Bitcoin. Even if no more long term builders/buyers join the fray over the next 8 years, the supply of new coins will be 75% less and the net long term demand roughly the same = higher price. This is the Bitcoin policy that attracts builders (or should i coin the term buidlers).

If history repeats though, we will have a lot more new long term beleivers join Bitcoin once then next wave (after the sellers are exhausted) occurs.

Do I make sense? Someone proove me wrong I guess?

Now, where are those sinks?

Submitted February 23, 2019 at 04:01AM by agent_kaleido https://ift.tt/2EpsHlj