BTC’s foundation is its limited supply. It is it that makes many investors think that cryptocurrency is digital gold. In the case of XRP Ripple, on the other hand, this factor has long been a source of controversy. Similarly – though not on such a scale – things are about Ethereum and Ether. However, Vitalik Buterin wrote on Twitter yesterday that the supply of Ether (ETH) is about 40 million lower than estimated in the white paper of the project a few years ago. He believes that this refutes the theory that Ethereum rule “Inflationary technocrats”.
Ethereum with less supply than planned
It’s about the following Tweet:
ETH supply that the whitepaper says we would have today: 150.8 million
Actual ETH supply today: 111.3 million
So please don’t try to claim that ethereum is run by inflationist technocrats. pic.twitter.com/6CuPngDbHY
– vitalik.eth (@VitalikButerin) June 17, 2020
The estimates quoted by Buterin predicted that the supply of ETH would be exactly 150.8 million tokens. However, the actual supply today is only 111.3 million.
Inflation and deflation
The issues of inflation and deflation are almost always quite controversial, if they are mentioned by more avid cryptocurrency enthusiasts. Why? This is due to the fact that many of them think that the deflationary nature of cryptocurrencies (in fact BTC is also subject to inflation, but to a lesser extent than fiat currencies; saying that it is a completely deflationary currency is an expression of a certain myth that exists in the blockchain community) is one of their main advantages compared to fiat currencies.
Of course, this is a contentious issue. Today, economists are of the opinion that low inflation is something good for the economy, but they often emphasize that in the case of BTC what counts is the knowledge of market participants as to how many coins appear in trading at certain intervals.
However, cryptocurrency fans are betting on deflation pedestal due to the fact that BTC is a child of the 2008 crisis. In addition, cryptocurrency is in demand in countries with hyperinflation.
Current course You can always check Bitcoin and other cryptocurrencies in the tabs: course Bitcoin and cryptocurrency exchange rate on Bitcoin.pl. A place where you can buy Bitcoin and other kryptowaluty, include cryptocurrency exchange BitBay.net. If you don’t have a BitBay account yet, this article will show you how to create one efficiently: LINK.