As of today, there is now only 10% of the Bitcoin total supply left to be mined. Although it has only taken 12 years to mine 9 tenths of the supply so far, it will take until the year 2240 before the final 10% is fully mined.
Bitcoin has a finite supply of only 21 million coins, therefore it is given the tag of ‘sound money’, given that there can be no more additions to its supply.
This is completely the opposite to the US dollar, and every single other fiat currency in the world today. 40% of all US dollars that were printed in its history were printed recently in just a 12 month period!
It seems bizarre to listen to bankers and leaders of world financial organisations throwing so much mud at Bitcoin, when all it does is follow an algorithm, without any manipulation, securely, and with 100% transparency.
Leaders such as Christine Lagarde, president of the European Central Bank, and Janet Yellen, secretary of the US treasury, level the accusation at Bitcoin that it is mostly used for money laundering and financing terrorists.
If that were indeed the case, more fool those money launderers and terrorists, because all Bitcoin transactions appears with complete transparency on the blockchain, providing an easy paper trail for police authorities to follow.
The fiat defenders never bemoan the fact that illicit transactions in dollars are just so much easier to cover up, especially with the help of banks. Last year suspicious activity reports were shared to journalists detailing how the five biggest banks in the world were allowing criminal funds to be generated and transacted.
Another fact that apparently wasn’t expected by many ‘leading economists’ was the appearance of extremely high inflation. How pumping the most ridiculous amounts of currency into the system would not cause inflation is left to be wondered at.
Fiat currencies are all in a race to zero. Not one fiat currency has ever avoided this fate in monetary history, and there isn’t anything to suggest that any of them will this time.
The only thing that the bankers, government leaders, and other august leaders of financial institutions have is that there is a belief by the general population, that these people probably aren’t to be trusted, but by and large, they’ll probably sort it out.
If the population had the education in these matters to actually know what was going on, then the sometimes puerile statements of these so-called leaders wouldn’t be taken so much at face value.
Bitcoin looks to be heading for ever-increasing highs as the world realises the magnitude of such a scarce source of value.
Fiat currencies on the other hand are going to be consigned to the bin of all those throughout history that were also eventually magicked out of thin air.
