RE: When you see a headline like this, you just know that Bitcoin is doing exactly what it set out to do. Sticking with my Target Price for Bitcoin at a minimum of +$1,000,000 and that's a conservative estimate.
The true evil spawn of the financial system is fiat money like the U.S. dollar. The current financial system spawned fiat money out of sound money in 1971 when the U.S. gold standard was suspended by President Richard Nixon. The U.S. has been printing infinite quantities of money ever since.
How many U.S. dollars backed by nothing can be printed?
Answer: An infinite amount... i.e., there is no upper limit
How many Bitcoins will ever be mined?
Answer: 21 million
The population of the world is approximately 7.7 billion people.
The current M2 monetary supply of U.S. Dollars (M1+M2) is approximately 17,980 billion U.S. dollars.
There are approximately 5.3 billion troy ounces of above ground gold in the world.
Let's say you evenly spread all the Bitcoin there will ever be and the current U.S. monetary supply among all the people in the world. How much would each person around the world have? And for comparison how many troy ounces of gold could be even split with each person in the world.
Compared to gold the U.S. dollar is not all that rare. And compared to Bitcoin the U.S. dollar is as rare as dirt. Humans have always place a value on rarity. Bitcoin is backed by the laws of mathematics. The U.S. dollar is backed by debt and faith. Gold is backed by it natural properties and rarity. But more rare than gold is the mathematically back Bitcoin. Bitcoin is lighter than gold and can be transferred anywhere in the world in a matter of minutes. |
Hi Mike.
So many people are still clinging on to the fraudulent and manipulated Financial System that is do nothing more than drive a wedge through the distribution of wealth around the World.
A System that is mathematically flawed and one that sees the rich get richer and the poor get poorer.
No wonder #Bitcoin continues to gather pace.
In a few years time, people will look back at 2016 and clearly see it as the pivotable and banner year for #Blockchain Technology and #Bitcoin.
We are already 2 years on from this.
Have a great weekend Mike.
Stephen
Stephen,
Thank you!
Have a great weekend!!!
Steem on,
Mike
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