Before 2009, no one knew how to create decentralized digital tokens with scarcity. Bitcoin showed the how it can be done, and this innovation made digital monetary commodities possible.
Note the smooth curve that asymptotically approaches 21,000,000 coins. This curve will never change – it’s in the DNA of bitcoin. Even if miners centralize and change this 21M limit, the community would fork the code and restore “bitcoin classic” with the original supply. Interestingly, the message embedded in bitcoin’s genesis block reads “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, showing Bitcoin’s intent of making monetary policy algorithmic.
Many people see immense value in money that cannot be inflated or debased.
2017-04-20 | Full Review