Half Of Bitcoin Supply Hasn’t Moved In The Past 2 Years – Yawn, What’s New?
So the latest news is out: technically, half of the entire Bitcoin supply has not been moved in two years. And this is supposed to be newsworthy?
It probably is for those outsiders looking in, but for those of us who consider ourselves Bitcoin enthusiasts, none of this is really surprising.
We’ve always known Bitcoin to be a store of value. As a result, most of us have ended up sitting on our coins and leaving them stashed away.
Why With Bitcoin, Not Moving Is the Rule, Not the Exception
It’s natural for people to treat Bitcoin like how most of us treat other forms of treasury.
By that I mean, if it’s not being used for something, chances are it’s not going anywhere. A good example of that is gold.
Absolutely no one is going to drag their gold from one corner of the world to another on meaningless trips. There’s no reason to, and that’s the same attitude popping up in Bitcoin users.
Our Musings About Doing Away With Old Records
When we heard about this new record, all of us started musing about what would be necessary for it to be broken – because breaking it would no doubt signify some sort of interesting crossover between Bitcoin users.
Here’s a list of what crossed our minds:
- Mass Liquidation Of Coins
- A Trading Frenzy Across Exchanges
- A Scramble By Individuals To Seize Mining Rewards
As Bitcoin users, all of these scenarios play out in our minds. Some of us even like to imagine what will happen should a situation like that ever become real.
But That’s All Imagining Right Now
Do keep in mind that the half of coins that hasn’t moved in two years still apply to the majority of Bitcoin users – and this is unlikely to be the norm for much longer.
Still, it does give the newbies something to look at when they realize how long this crypto currency hasve been around! And it gives us regular-folks a reminder that Bitcoin isn’t just a get-rich-quick scheme – we all still expect it to be a long-term investment!
