Over 90% of the total amount of bitcoin that will ever exist has already been mined, according to data from the Clark Moody Bitcoin Dashboard[1]. As the monetary network advances in awareness and usage worldwide, fueling an increased demand for BTC, a sudden and robust supply shock might become inevitable.
The Bitcoin network, the only form of digital cash that manages to solve the double-spending problem in a properly distributed and trustless manner, enforces a supply cap of 21 million coins through its consensus protocol, run by tens of thousands of nodes worldwide.
A predictable and unchangeable monetary policy is one of the core aspects that make Bitcoin appealing, especially in the face of the reality of fiat and “crypto” currencies — the supply and monetary policy of which can change based on the decision of a select few people.
The peer-to-peer (P2P) electronic money is sound, contrary to soft fiat money. Nobody has the power to inflate the supply of bitcoin the same way nobody can reduce it. The Bitcoin network is “rules without rulers,” and the rules are written in stone.
We Are Still Early
Although “we are still early” has become a meme, it is most likely true. Only a tiny subset of society understands what Bitcoin is and its potential for empowering regular citizens. People living in privileged communities that enjoy high levels of freedom and individual rights can be quick to dismiss Bitcoin; however, the P2P cash system can also empower them.
Bitcoin is most often a different thing for different people. For instance, it might function as a store of value for someone living in the U.S. or the U.K., where inflation isn’t soaring but still erodes purchasing power over the years. On the other hand, for someone living in Palestine
