Economist Explains The State Of Bitcoin
Bitcoin is a currency which is unpredictable. In fact, the crypto market as a whole is volatile and subject change on an hourly basis, so, there’s no way of knowing what will happen tomorrow, the day after that and so on. This is why cryptocurrency investment is so risky
When it was initially created it was seen as one of the hardest currencies ever created – and maybe that is still true to this day – due to its finite supply which means it will always be a better store of value over time, Bitcoin economist Dr. Saifedean Ammous has suggested.
The number one digital currency in the world has just over 20 million token overall and so when the miners uncover all of these coins then there won’t be any more to dig out of the blockchain. This fixed supply is why the coin has surged so much in ten years according to Ammous.
In his new book, Ammous looks into the history of Bitcoin and where he sees it going in the future. The book is titled The Bitcoin Standard: Decentralised Alternative to Central Banking and is out now.
The book goes into what Bitcoin has gone through, from its creation by Satoshi Nakamoto to “ten years later, and against all odds, this upstart autonomous decentralised software offers an unstoppable and globally-accessible hard money alternative to modern central banks”.
In a recent interview with the Daily Express, Ammous says “Bitcoin is not the toy you want, it is the medicine you need.”
Just so you know, we are not financial advisors and this is not financial advice. So, do your own research and make sure you trade safe.
Ammous is one of the members of the Centre on Capitalism and Society at Columbia University and added that Bitcoin is here to stay and that is not optional.
As the number of coins in circulation increases, the cryptocurrency becomes a ‘harder’ asset which gives Bitcoin a better store of value according to the Bitcoin economist. Bitcoin is now
As reported by the Daily Express:
“BTC has become a ‘monetary good’ because its value is ‘completely determined by people buying it and selling it’ rather than people producing it… what makes something worth using as money is once people put their wealth in it and start to use it as a store of value it is hard for others to simply increase the supply and bring the price down and make more if it.”
By Robert Johnson Nov 14, 2018
David