Mark Harvey
Mark Harvey 2 minutes reading from Bitcoin

$BTC is Money for the People: $BTC is Getting Even More Decentralized

BTC is money for the people:

A decentralized blockchain is a resilient one, and therefore an innovative one.

Bitcoin is the most decentralized asset, but it’s getting even more decentralized with time:

👇🏾

Every 10 minutes, a new block is added to the Bitcoin blockchain. Each block is strictly limited to 1mb, which ensures reliably small blockchain data size, and low computer storage requirements.

The entire Bitcoin blockchain can be stored on 1 terabyte(TB) hard drive.

A 1 TB hard drive can be purchased for 65-100. Affordable to most people, but getting more affordable over time because we know that the price of computer storage is always declining.

Computer storage is estimated to decline at a rate of 12-14% per year.

At current, the Bitcoin blockchain size is increasing at about 7% per year. This rate is always getting smaller the time too.

So the hardware cost required to store the blockchain is declining at a rate faster than the storage requirement of the blockchain grows, with time.

Declining price of storage requirements means that more and more people can run node hardware with time, making Bitcoin only more decentralized over time.

Bitcoin is money for the people.✊🏿

This post is based on this twitter thread.

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