Economist: Bitcoin has the fastest growth rate and the highest increase among all assets, and one million is just around the corner?

In December 2017, Bitcoin soared to a record high of 20,000 knives. The ever-rich story of the rich also attracted a lot of attention from mainstream media and the public to Bitcoin. People hope to understand what kind of technology can be Such an amazing rich effect. However, compared with Bitcoin's nearly 2 million times increase in nine years, the increase in Bitcoin in 2017 can be said to be dwarfed.

According to NewsBTC's March 28 report, an economist said that the value increase of Bitcoin is the fastest and most significant of all human assets, and this may be due to Bitcoin's unique code design.

Bitcoin-price-btc-rise-shutterstock_1262008330-1500x700 (Source: NewsBTC )

Economist: No asset can grow as fast as bitcoin

The economist Dr. Saifedean Ammoius is the author of The Bitcoin Standard. He spent a lot of time studying the first cryptocurrency that Satoshi Nakamoto designed ten years ago.

After the Bitcoin main online line, Bitcoin has embarked on the road of Daguai upgrade. It has gained a lot of attention from the beginning of the article, and maybe one day it will have the opportunity to become a common currency on the Internet. . In the ten years of Bitcoin development, even though there have been many warnings that Bitcoin is a bubble, after the bubble bursts, only the chicken feathers are left, but this can't stop Bitcoin after every bubble burst. Continue to grow and reach new heights.

Screen Shot 2019-03-28 at 4.07.32 PM Screen Shot 2019-03-28 at 4.07.59 PM

(Source: Twitter )

According to Dr. Saifedean Ammoius, Bitcoin's growth over the past decade can be said to be the fastest and most significant of all assets in history, investing $100 in Bitcoin, Apple, Microsoft, General Electric and Google's parent company Alphabet, investment bits. The return of the currency is the highest.

Dr. Saifedean Ammoius explained:

Bitcoin is a new 'species' that is different from those of the previous ones. In other words, you can use the previous method of analyzing bubbles, currency or stocks to analyze bitcoin.

Halving production is the reason for the rapid increase in the value of Bitcoin

So what is the reason for Bitcoin to increase by nearly 2 million times in just nine years? Dr. Saifedean Ammoius attributed this phenomenon to the unique design of Bitcoin, which means Bitcoin adjusts the difficulty of mining every few years and reduces block rewards.

Screen Shot 2019-03-28 at 4.08.27 PM (Source: Twitter )

When Satoshi Satoshi designed Bitcoin, he used a consensus of workload proofs to verify each block that was newly added to the blockchain. When the miner does not dig a block to ensure the security of the network while verifying the transaction, he will receive a certain amount of bitcoin as a reward. The amount of Bitcoin rewarded by each block will continue to decrease as Bitcoin halved every few years. With each halving, the number of bitcoins dug by miners is gradually decreasing, which further breaks the balance between supply and demand of Bitcoin. The number of bitcoins sold in the market is small, and the price of bitcoin naturally rises. It is. As investors are also concerned about the halving of Bitcoin, their early 18 months prior to the halving of Bitcoin has further boosted bitcoin prices.

Bitcoin's next block reward is halved on May 23, 2020, and now is a good time to advance layout.

It is possible that after the halving cycle of such a round, the price of a bitcoin can reach $1 million. Let us wait and see.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Computing Power is King: Global Treasure Map

Text: Song Shuangjie, CFA; Cheng Dongfeng Source: Token Research Institute Introduction   With the increasing co...


What is your opinion on the Democratic presidential candidates accepting Bitcoin as campaign donations?

Robert Kennedy Jr., the Democratic candidate for President of the United States, has become the first presidential ca...


Max Kaiser: Gold is the “toilet paper” of the rich and Bitcoin is the “toilet paper” of the poor

This article Source: Cointelegraph Chinese, Author: WILLIAM SUBERG People will buy bitcoins (BTC) in droves. Because ...


The same is the breakthrough of 8,000 US dollars, what is the change in the bitcoin fundamentals between 2017 and 2019?

Half a year ago, the currency circle was still immersed in the negative atmosphere of “Bitcoin would fall belo...


Bitcoin Futures Reach All-Time High as Bullish Momentum Grows

Record Number of Investors Show Interest in Bitcoin Futures, But Where Does That Leave Us?


EOS account breaks 800,000 bitcoin combined with EOS cheaper and programmable weekly report

1 EOS this week's hot list Innisfil becomes the first city in North America to accept bitcoin municipal taxation...