“we have nearly 11 years of empirical evidence that the network itself has been holding and transacting bitcoin, but instead of with private key signatures, it’s in exchange for hashed electricity.” – Phil Geiger
Framing the scarcity of Bitcoin at first seems obvious, but with a closer look, is far more difficult than it would seem. Does the supply actually inflate at all? Does the market price in all future halvings? Do the Bitcoin exist when they are mined, or do they exist today, sold to the miners in exchange for hashes? Phil presents a very interesting perspective and way of framing the supply of Bitcoin, in this great piece from the Unchained Capital Blog.
Check out the original below, and don’t forget to follow Phil on Twitter:
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