![]() Satoshi understood that central banks and governments have become insidious and inflationary. It was invented by Satoshi Nakamoto and meant to be an alternative to the traditional banking system for the global masses. Of course, I will start my list with the king of cryptocurrencies – Bitcoin.īitcoin has been effectively solving a real-world problem since it was born in 2009. Top 10 Cryptocurrencies With Practical Usecases So let’s look at some of the best cryptos with real, functional, and effective use cases. I’m also not denying the existence of scams, and pump and dumps, and MLM coins, but the market will eventually filter these coins out. Bitcoin could drastically fall in price in an instant.Ĭrypto-projects are evaluated by market sentiments and the use cases the project is intending to solve. The crypto market is a decentralized free market where no one has autonomous power.All/most altcoins/cryptocurrencies are addressing different problems and use cases that Bitcoin doesn’t aim to solve.Bitcoin is the worlds first cryptocurrencies and therefore, it has the “first mover’s” advantage.Some people might think that Bitcoin is the only useful coin out there, simply because of how it’s dominating over 50% of the market.īut I would say this is not fair because of 3 reasons: ![]() The remaining $76 billion is shared by the remaining 860 altcoins (i.e. Out of this $145 billion, $79 billion is the market cap of the biggest cryptocurrency – Bitcoin. Such a system would not work in the same way we expect with rupees and dollars, which explains both the excitement and worries of what Bitcoin in its current state could do to our economic system.The list of cryptocurrencies on CoinMarketCap just keeps on increasing…Īt the time of writing this article, there are more than 860 cryptos listed on CoinMarketCap, with a total market cap of $145 billion. If the supply stagnation keeps increasing Bitcoin’s value for a hundred years then, imagine a fun thought experiment – a house worth one Bitcoin today, would be worth half a Bitcoin in ten years, worth one-tenth of a Bitcoin in thirty years, worth 0.05 Bitcoin in forty years and so on. By the early 2030s 97% of Bitcoin would already exist, while the last 3% will come into existence across 110 years until 2140. For perspective, 83% of all the Bitcoin that will ever exist has already been supplied in just 12 years since its inception. Known as whales in contrast to the ‘small fish’ in the market - add to their hoard or sell a part of their holdings for cash, the value of Bitcoin may change significantly.īitcoin has a hard limit of 21 million coins, of which 18.77 million haveĪlready been ‘mined’. When these large Bitcoin holders - colloquially As a result, more money on crypto exchanges chases fewer available Bitcoins, keeping its value up. When a sizable portion of Bitcoin remains in wallets for the long term, there are fewer Bitcoins to go around. That means, 83% of all the Bitcoin that will ever come into existence have already been brought into circulation within 12 years of its creation. Out of this, 18.77 million haveĪlready been ‘mined’. The hard limit of Bitcoin’s supply is set at 21 million coins. By comparison, currency supplied by central governments does not have hard limits, and governments are free to print any number of dollars or rupees they need, provided they do not mind the resulting inflation. Simply put, this limited supply and increasing usage have driven up the value of Bitcoin. Which means, in the face of rising popularity, the price of cryptocurrency will surge as more people buy into the concept. The source code he wrote comes with a unique condition - a hard limit on the number of Bitcoin that can ever be produced. And, there’s only so much of the oldest cryptocurrency in the world, Bitcoin, to go around.īlockchain-based solution was pitched as a possible store of value by the elusive Satoshi Nakamoto, whose real life identity remains a mystery and who has since disappeared never to be heard from again. Rising demand in the face of limited supply makes for sky high prices. The rarer an item is, the higher its value.
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