183,522,916,504,534
That is the number of crypto tokens created over the created over the last 8 years. Yes, One-hundred eight-three trillion, five hundred twenty-two billion, nine hundred sixteen million, five hundred four thousand, five hundred thirty-four.
But you are saying “Hey Chris, DOGE is only worth $0.001 $0.75 $0.38 $0.48 while Bitcoin is worth $44,000 so they aren’t all worth the same.
Well, let’s convert them all into Bitcoin equivalent. Each week I calculate the change in supply for each crypto and multiple it by the ratio of its price to Bitcoin’s price that week. I then compart the increase in Bitcoin equivalent crypto to the change in the Fed Balance Sheet. You know, that terrible, awful, debasing, dollar destroying institution.
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The supply of crypto is up almost 500% during this period whereas the supply of dollars is up 140%.
While you can’t make more than 21 million Bitcoins, you can make an unlimited amount of many cryptos – including Etherium and Dogecoin. And of course an unlimited number of currencies.
I expect that cryptocurrencies will be about as value as those baseballs cards I used to collect … along with every other kid my age. It’s simply economics: Unlimited supply = $0 value.