BITCOIN, page-33

SUPPLY

Not only is BTC limited in only ever 21 million ever being able to be produced the amount produced is halved every four years currently miners get 6.25 bitcoin per valid block mined . It was previously 12.5 and will next be 3.125 after the next halfening due about march 19 2024. One new block is produced on average every ten minutes containing a bitcoin . The level of difficulty is adjusted every 14 days this is to make the blocks average one new one every ten minutes if they get ahead of that it gets harder if they get behind it gets easier .

DEMAND
The other component in price is of course demand . Demand flucuates and this affects price . In its purest sense there would only be demand for payment for goods and services and peer to peer transfers . The price would be a lot lower than it is the difference is two forms of speculation

1. People like myself who hodl against inflation stealing their savings heers why

Table of Annual Returns

	Year	Return [%]
1	2017	1318.0
2	2018	-72.6
3	2019	87.2
4	2020	302.8

2. Day or more accuratly short term traders . They act as day traders do in other markets trying to maximise their profit on trades .

In the background are the whales and the humpback whales these are large and superlarge holders who use their size to manipulate the price . They cause crashes to panic newbies in to selling . Newbies often get in through FOMO and panic sell through FOLIA (fear of losing it all). This resulted ina lot of tragedy in individuals personal lives in 2018
while they are panic selling the whales buy the coins cheaply.