Money supply in Bitcoin

The number of bitcoins excavated is not equal to the number of bitcoins available. Theoretically, there are about 21 million bitcoins in circulation, but certain events may cause not all bitcoins to be output.

If the private key is lost and the accessible bit coins can no longer be moved, the probability of encountering a particular output is so low that it is considered impossible. In concrete terms, this means that an output of 50 BTC whose associated private key no longer exists is lost forever. These bitcoins belong to the maximum money supply of the 21 million, but they are no longer available.

How many bitcoin loophole are lost cannot be determined precisely

Estimates range between three and four million Bitcoin loophole lost. This scam was detected by onlinebetrug. On the other hand, there could be fractional reserve banking with Bitcoin. The alleged amount of money would exceed the number of coins mined. This phenomenon cannot happen on the blockchain itself, but only if, for example, exchanges attribute more Bitcoin to their users than they actually store on a wallet themselves.

A similar situation occurred on the Bitcoin exchange Mt.Gox in 2013. Back then, hackers gained access to the Mt.Gox wallet and stole Bitcoin. The users’ Bitcoin managed Mt.Gox with a MySQL database and this attributed Bitcoin to the users who were not on reserve.

How does the output of Bitcoin work?

Bitcoin’s emission curve is modeled so that Bitcoin is finite. Satoshi Nakamoto programmed this emission into the Bitcoin code. He specified that the coinbase, the transaction where new Bitcoin is created, would be halved every 210,000 blocks. Since it takes an average of ten minutes for a new block to see the light of day, 210,000 blocks correspond to approximately four years. The initial reward for a block in 2009 was 50 BTC. Meanwhile, in 2018, we already experienced two halves, the coinbase is now only 12.5 BTC.

The halving of the Coinbase will continue and the rate at which new Bitcoin will be issued will decrease. One day the coinbase will drop to zero. This means that no new Bitcoin will enter the ecosystem.

Schrödingers Bitcoin

Bitcoin is dead, writes the Süddeutsche Zeitung. Au contraire, however, means BTC-ECHO. Meanwhile, Morgan Creek’s Digital Capital is looking for a stupid guy who takes his million-dollar bet. The ECHO KW50 opinion.

Bitcoin died as his Hodlers are blinded, says Victor Gojdka of the SZ in a BTC rant disguised as commentary. The mother of all crypto currencies, who congratulated Gojdka on her tenth birthday in November, failed to keep her many promises of salvation. Instead of finally recognizing this reality and waking up from the dream of exploring the lunar landscape in the Lambo, the Bitcoin community does not lose the excuse to continue hatching:

Crypto trader always finds some excuse for Bitcoin’s infirmity:

Once an American star crypto trader got angry at Bitcoin and caused panic. Read more about it: https://www.onlinebetrug.net/en/crypto-trader-review/ Recently, it has been said, the struggle of two major players in the encryption business has shocked investors.

In fact, many consider the debacle surrounding Bitcoin ABC and Bitcoin SV as one of the reasons why the encryption market is in trouble. For example, a certain Victor Gojdka was the protagonist of the Zürcher Tagesanzeiger on November 22:

“Two dimensions of Bitcoin are sabotaging their factory – since the beginning of the year, Bitcoin has lost almost 70% of its value. A power struggle in the realm of cryptic currencies has also triggered uncertainty.

After all: Gojdka admits that “one or the other encrypted currency” has a chance of survival; at least “as long as it is useful in everyday life”. Bitcoin, however, would be one of the first manifestations of a new technology like Netscape, the forgotten web browser of the then still young Internet. According to this, the cryptographic community is as blinded as the first geeks who thought that the Internet was the next great technological revolution.

Phillip Horch discussed here that BTC is still alive despite the beating of the bear.

Bitcoin bags S&P 500, bet?

Meanwhile, Morgan Creek Digital Assets continues to rely on BTC – literally. The investment company bets a million U.S. dollars that its encryption index (77.4% Bitcoin, 11.1% Ethereum, the rest distributed among eight Altcoins) will beat the S&P 500 in the next ten years.

The idea was inspired by Warren Buffet, who in 2007 bet that the S&P 500 would perform better in ten years than a selection of Protégé Partners hedge funds – and he was right. Morgan Creek is still looking for an opponent. This shouldn’t be too hard to find, given the many well-off cryptoskeptics, right?

Anthony Pompliano, co-founder of Morgan Creek Digital Assets, told the CNBC:

“Many people can look at this and think we’re bullish in Krypto – but you have to look at the activities we’re dealing with. Even public actions are not exactly at their historical peak.

Pompliano not only bets on BTC, but also predicts that the killer app for Krypto will come from Facebook of all places:

“I bet Facebook develops the most used encryption product.”

Pompliano tweeted in response to a cynical post by The Block founder Mike Dudas. He considered a blockbuster job ad from Facebook with cynical words:

“A fantastic job for professional prestige without the risk of having to deliver.