₿itcoin ₿itcoin ₿itcoin 17 Million!
*This picture erks me cuz they could put 2 or 3 more rows on these lol
When you think about what money is backed by right now it is gold and silver however that did change back in 1971 when President Nixon announced that the US dollar would no longer use the gold standard which means your dollar is no longer backed back the full weight of gold.
Why is this important?
It goes to show you that bitcoin could easily replace gold and gold has many many issues in terms of trading, security etc. While bitcoin has ALL of the advantages.
If and when bitcoin totally replaces gold the current value of 1 BTC would be roughly $700,000! Thats about a 8-9 trillion dollar market cap looks like.
Yesterday I also reported that Nasdaq is open to having bitcoin on their markets which would clearly open it up to another 80 trillion dollars in funds and allow for anyone that has a stock portfolio to easily invest into bitcoin.
This very real possible changes are being seeing and paints a clear picture of us moving to all new highs this year.
Now 17 Million Bitcoins
17 Million total bitcoins have been mined. In fact in writing this we now sit at 17,000,275 80.95% total minned. Now remember only a total of 21 million will ever be mined that is only 4 million left to be mined! Only 1,800 are mined each and every day.
This rate of supply will continue for a little over two more years where in 2020 we will see a halving take place which will reduce BTC mined to just 6.25 per block or roughly 900 per day.
What I foresee over the next two years is regulations and adoption happening and when 2020 rolls around for the next halving for bitcoin to seriously break some all time new records.
If you think about it critically, with bitcoins adoption rate and demand, isn't the U.S. dollar backed by Bitcoin right now?! I like to think of dollars in terms of bitcoin rather than bitcoin in terms of dollars. We are moving closer to regulation and adoption everyday. I'm seeing Bitcoin ATMs pop up everywhere. My grandma wants to buy and USE bitcoin. I agree, 2020 will make groundbreaking highs!
when i start investing bitcoins were about 14 milion :)
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@bitcoinflood I tend to agree with you. Once there will be no more mined, it will be a huge upward pressure in price. I would expect fees to be really high too, so it will be hard to transact with BTC. Liquidity strategies will have to be pretty solid to ensure that these gains are not wasted!
Well i keep saying that and people call me crazy. In a few years BTC s price will be 1mill.
It will be a measure of wealth just like gold is today. And even better if it replaces gold as well.(which i find a bit difficult)
But we have no reason not to be optimistic
BTC will take over fiat currency gradually. This is the ultimate future. Those who don’t understand this now will pay for it in the long run.
I am completely with you on your Bitcoin thoughts. At less than $10,000 Bitcoin is currently a steal😎
I have also resteemed this post to share with others.
I can see a $1,000,000 Bitcoin in the next few years. What price do you think we will see?
This was an awesome post. Thank You for the excellent breakdown of Bitcoin👍
I would expect fees to be really high too, so it will be hard to transact with BTC. Liquidity strategies will have to be pretty solid to ensure that these gains are not wasted
Is Litecoin going to rocket to $7000 next week?
Why do you know something I dont? honestly curious now lol
Wow 17m and still growing. Incredible news