I love the enthusiasm shilling bitcoin out there now, from the hardest money ever invented (that part is actually true) to bitcoin being deflationary or having no inflation, those last parts are not true.
The supply of bitcoin is currently fixed at 21 million, we all know that.
But, the supply of bitcoin is still getting bigger each day and it will continue to get bigger for the next 100 plus years.
That by definition makes bitcoin an inflationary currency.
However, yes that is my point, but it's not really the point of bitcoin.
The reason bitcoin works as a store of value and the hardest money ever invented is because the rate of this new supply coming into the market is moving at a snail's pace and is only getting slower.
Here's a table of some of the hardest money ever to exist and it's rate of supply doubling:
(Source:
)https://twitter.com/crypto_voices/status/1360221390088114177/photo/1
- crypto_voices
From the time bitcoin was created until now, it has had an average doubling rate of just over a year.
That is heavily waited towards the first few years of course, but it's bitcoin's history regardless.
Going forward however, it will take another 688 years for the supply to double from here, which of course it won't double from here since the supply is capped at 21 million.
But that just goes to show the current rate of emissions compared with where we came from.
Gold and silver by comparison double every 39 and 48 years respectively.
I am not sure how bitcoin will perform once the new emissions eventually stop in 2141, but most likely I won't be around to find out.
That is, unless they are able to store my consciousness on a hard drive by then, which who knows could theoretically happen some day.
