In June 2020, after next halving event, bitcoin's monetary inflation will match that of gold. To match gold's market value as well, each bitcoin should be worth near $500,000. #hyperbitcoinizationpic.twitter.com/86SqvGwHj7
Cryptocurrency Analyst. Bitcoin, not Blockchain. Angel Investor. Previously @Princeton.
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In June 2020, after next halving event, bitcoin's monetary inflation will match that of gold. To match gold's market value as well, each bitcoin should be worth near $500,000. #hyperbitcoinizationpic.twitter.com/86SqvGwHj7
This is true if going off the 21M number. But if you consider 4M as permanently lost, and go off of the 16-17M numbers then the "real" supply inflation rate is higher than the current 3.83%
It's an estimate. Definitionally difficult to prove.https://blog.unchained-capital.com/bitcoin-data-science-pt-2-the-geology-of-lost-coins-79e5a0dc6d1 …
That post is extremely flawed. "Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet." -- Satoshi I guess it depends on your definition of "supply" and "monetary inflation" (https://github.com/libbitcoin/libbitcoin/wiki/Glossary#inflation …).
In practical terms, the difference between a most probably lost coin and one that will probably never be spent by his owner is not that great. So I consider the definition of supply as the set of all issued coins the most sensible one.
On the other hand I acknowledge one should take with a pinch of salt any comparison between the monetary inflation of gold and bitcoin due to their different ownership distribution.
If 4M coins are permanently lost then for all intents & purposes, if hyperbitcoinization happens we have to effectively go off ~17M total supply. If theyre lost forever it’s like they don’t exist. So real supply inflation will go below that of gold, but it might take a bit longer
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