At the time of this writing, there are only 33 unique wallets with over 21K BSOV. Just to visualize what this looks like here is a room full of 50 people:
50 people in the grand scheme of the world are nothing. There are thousands of cities across the world with 50,000 people. Crypto-commodities like Bitcoin and BSOV are based on a mathematical distribution schedule. The initial value is assigned to these technologies by early adopters who believe in the long term picture/ speculative trading. BSOV and Bitcoin both have halvings and a 21 million cap. With BSOV since June 2019, 159.5K have been burned to never recirculate. This means there are only 992 wallets that could theoretically hold over 21,000 BSOV.
BSOV has been lowering the total float since Day 1 with the built-in deflation function programmed by Mundo. The point of this article is to highlight the scarcity component of BSOV and the small number of people who can hold 21,000. BSOV has had a sharp decrease in price within the last couple of months, most likely due to the huge rally in BTC and ETH. Traders are looking for alpha and most likely sold into other coins. This has left BSOV right at the cost to mine of around $.015- $.02 per coin. Currently, miners are not able to profit by mining and then selling so the supply of newly minted coins is not increasing as rapidly as this time last year. In my opinion, this is an equilibrium that is good for the project providing a baseline cost of computation. With ETH 2.0 coming in the following years, this will allow miners to mine BSOV at super cheap prices but until the change happens the mint function is 93,000 gas to run, and based on the market price of ETH the gas has to be around 10 or 9 to mine at $.01 a coin. The point of this article is to show how 992 people are not that many. Here is a photo of 1000 people:
BSOV has over 1000 holders but a large percentage of these wallets only have a small amount of BSOV. With the mathematical distribution of BSOV being hard capped with deflation kicked in, the amount of potential 21,000 holders will decrease over time. BSOV is essentially a large poker table at this point. The larger it gets, the more value is assigned, the scarcer it becomes as well due to the burn function. The world is so big and 992 people do not seem like a lot to me. The Telegram chat has over 1000 people, granted many bots, Twitter has over 2000 followers, and the project is less than 1.5 years old. Holding over 21,000 BSOV could be an elite club in the future depending on how the poker table of holders increases over time. Bitcoin at $.06 was a poker table of computers guys and gals, now Bitcoin at $19,000 is a poker table with Billionaires and Millionaires loading up on the crypto-commodity. BSOV has come so far since June 2019, the community has a CMC page, CoinGecko, even Coinbase is tracking the asset! ETH 2.0 is super exciting for BSOV and token miners in general. Cheers to BSOV and the 21K HODL!