TheCryptoverseGuide Post # 2 What I think Buffet meant with Bitcoin is rat poison - the ONE ENORMOUS problem of Bitcoin no one discusses that may lead it disappear by 2035-2050, about 100-80 years before the last Bitcoin is mined (a supply and demand analysis, not just a SUPPLY analysis).
In another piece I clarified that bitcoin mining refers to the process of using GPUs to solve complex tasks/puzzles and get rewards for verifying transactions on the network (available here ). I also wrote that, the most important thing about Bitcoin is the Bitcoin Halving events. These events are dates which are about 4 years apart from each other and cut the reward of the miners by half. 1. Supply analysis 1.1. Bitcoin halving events, cycles, rewards, changes and implications for future Supply In this section, I look at the Bitcoin halving cycles, their implications for block rewards, supply and future block rewards. The key point of this analysis is to show that with each halving cycle, the decrease in mining rewards causes to be less incentive to keep mining Bitcoins and verify transactions on the network. This may have significant implications post 2030-2035. But before we go into these, let's dive into the halving cycles and what they did for Bitcoin rewards and also analyse ...