418k Static Mined BSOV Since June 2019
The blockchain is one of mankinds greatest inventions for many reasons, in this article I want to discuss the ability to verify all transactions on a public ledger. When coins are issued with proof-of-work, the reward is sent to the wallet that wins the reward and another challenge is made. Using Bloxy anyone in the world can see statistics on the supply of BSOV. Above shows 3,390,403 verified on-chain. This number is far off from the actual amount that has been mined minus burned.
The data above comes from the BSOV stats page made by a community contributor. The total mined are 3,978,250 and total burned 169,002 as of 2/28/21. Bloxy will not count the burned BSOV so if we subtract the burned total from mined we get 3,809,248. Bloxy is reporting 3,390,403 which means there are 418,845 BSOV that have not been moved since June 2019 when the contract was deployed. I find this interesting because the news is talking a lot about old Bitcoin that was mined in 2010 or 2011 pre-halving that is being moved for the first time. Doing research on Bloxy the on-chain data is there with the stats page to see how many have been mined in the smart contract. People hypothesize that Satoshi still has 1 million BTC from the pre-halving days. It is going to be interesting what happens to these old BSOV if more and more value is assigned to the commodity. The total supply reported can jump 50k if an old miner moves the potentially year-old BSOV.
The blockchain never lies and can always be confirmed. As a crypto enthusiast, these systems I believe are superior to fiat. There is no need to “balance a budget” thus the system takes on no debt and can be pinned to the underlying mathematical properties of the distribution. BSOV went through a hyper-inflationary period during late 2019 with millions being minted in half a year. Difficulty skyrocketed to the millions because of the constant adjustments. The curve is now flattening because the cost to mine is above the price in the open market. Currently, not one block has been mined in 2021! If BSOV is moved outside the OG 418k, then the Bloxy on-chain supply will decrease because of the amount burned. It will go up if the transferred BSOV is from an OG miner holding some of the 418k. Liquidity hit an all-time high on Uniswap and ETH fees are still up leading to an inability to arbitrage the market. I am a BSOV miner/holder and have never been so bullish on the commodity. As time goes on it will be fun to see what happens to these OG BSOV!