Bitcoin, universal currency? – The invention of Satoshi Nakamoto has already experienced incredible growth since its launch on January 3, 2009. We reported to you a few days ago that the Bitcoin addresses with at least 1 BTC exceeded one million. And this sustained and exponential adoption of the king of cryptos makes say to Adam Back what’hyperbitcoinization is very close.
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There will not be a bitcoin for everyone!
Always claiming to be cypherpunk, Adam Back is indeed an old timer in the cryptography (some even suspect him to be Satoshi Nakamoto). He is thus a natural and fervent optimist of Bitcoin. 3 months ago, Adam Back for example explained, without flinching for a second, that the price ofa single BTC could reach $10 million within 9 years.
So when the cypherpunk learned that now over a million addresses had at least 1 BTChe had a click on Twitter. soon with growing adoption of the king of cryptos, it will become almost impossible to own a whole bitcoin (at least for individuals).
“I saw this graph and I thought, very cool, let’s go now for 10 million [d’adresses] with a whole bitcoin! And then I realized that maybe it was not possible, because there are only 21 million bitcoins. (…)
Because 10 million people trying to buy 1 BTC over a few years would take the price way too high. And many current holders are not selling. For example, very few of those who recently bought 1 whole BTC would resell it (…), most try to buy more! »
With now 8 billion people on planet Earth, it is mathematically obvious that very few will be ” wholecoiners » (owners of one of the 21 million BTC). Hyperbitcoinization, dear to Adam Back, really seems imminent. Could it be that soon the value of a single bitcoin will be so abstract and high, that thewe only speak in satoshis (i.e. 0.00000001 BTC)?
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