Bitcoin Circulation in De Facto and De Jure

[Cryptobaik]

INTRO

Bitcoin is a cryptocurrency or Digital Asset (its soft greeting in Indonesia) which was launched by Satoshi Nakamoto on January 3, 2009 on the basis of the Blockchain.

Just like any other valuable object, Bitcoin can be valuable due to its limited amount (according to economic theory).

Due to this limited number, many people have the desire to own this asset after realizing the advantages and vision of Bitcoin for the future.

Currently, the number of Bitcoin in circulation is 18,615,468 (Update January 31, 2021) from a maximum amount of 21,000,000, but let's highlight the current Bitcoin. Are the numbers really like that?

For that we will divide it into 2 Standards, namely De Facto and De Jure Standards.

Bitcoin Circulation in "De Facto"
The word de facto refers to the reality or in practice, the de facto circulation of Bitcoin is not like the explanation in the stipulation, which is 18,618,468 (Update 31 Januri 2021).

What is the reason for being said like that?

The reason is that not all Bitcoins in circulation are fully owned by their owners which may be caused by Human Error or others.

For example, such as losing the Private Key, forgetting the password or other events that cause the owner's Bitcoin to disappear from his hand.

News Reference:

https://www.cbc.ca/radio/asithappens/as-it-happens-friday-edition-1.5875363/this-man-owns-321m-in-bitcoin-but-he-can-t-access-it-because-he-lost-his-password-1.5875366

https://www.theverge.com/2021/1/12/22227535/nyt-bitcoin-millions-forgot-passwords-digital-wallet

http://www.cryptobaik.com/2021/01/mantan-direktur-teknologi-ripple.html

https://inet.detik.com/cyberlife/d-5339373/pria-ini-buang-hardisk-berisi-bitcoin-senilai-rp-39-t

And that's only a handful of those who are exposed, we don't know other people story ...

The "De Jure" Circulation of Bitcoin
The word de jure refers to the law or the provisions, so there is no need to go at length because this de jure circulation of Bitcoin is what is inspired by the majority of people who are involved in the world of cryptocurrencies or digital assets today.