Discussing Bitcoin’s issuance cap, satoshis and what this all means for the future of bitcoin value.
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Host C.J. Wilson opened the latest episode of “Bitcoin Bottom Line” by talking about the mystery of Bitcoin’s fixed supply. There are only 21 million bitcoin that will ever exist, giving folks a grasp on how much bitcoin there will be in supply at any given time.
In May 2020, the block issuance halving meant that the new bitcoin supply every day went from from 1,800 to 900 on average. At the time, many people did not know how to address the supply being different. How much were folks willing to pay due to the psychological mechanism of the fear of missing out?
About 18.9 billion bitcoin have already been mined, but early Bitcoiners did not know what to do with the money because it could not be traded and was not yet worth much.
There are 100 million pieces of one Bitcoin, called “satoshis.” You will see growth in the value of satoshis, as you do with one bitcoin.
Wilson explained how to buy bitcoin and where the money goes. Bitcoin can be considered rarer than anything because it is fixed and ruled by rules instead of rulers. Folks should view it as “stacking sats” and not just buying parts of a bitcoin.