Hi @joelagbo
Indeed the title sound like a clickbait and it worked. Attracted my attention :)
It’s twenty-one million Bitcoins against billions of people.
Lets be real. it is already less than 21 million as many of BTC wallets have been forever lost.
And at the same time we cannot take billions of people into consideration. I would never expect even 1 billion to ever show any interest and knowledge needed to buy bitcoin.
Now since we have institution buying BTC in masses then it is already to late for most regular folks out there. Regular joe will think (as many of my friends do) that 'this train already left the station'. And they will never get involved.
In long term - I would expect more institution and less of regular people to be owning their own BTC. Who knows, perhaps Im wrong
Miners will have to battle for only two million Bitcoins for the next 120 years
And thats another interesting topic. What will happen if price of BTC is not super high and rewards for mining would not be worth the effort? If cost of mining will be few times higher than value of received BTC?
Who will then continue mining?
cheers
Piotr
I'd expect the scarcity and the mining difficulty to reflect in the price. Miners account for some of the biggest sales, the less they sell, the better the price.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit