Halvings should diminish in importance as the block reward approaches the fee market size. However we have a few remaining very supply consequential halvings ahead. The current block reward creates a supply growth rate matching the gold mining rate:supply, but we are lacking the historical credibility of gold to match its ~10Tn market cap. This is what PlanB got wrong.

Bitcoin credibility is growing fast. The average person hasn’t yet realized how battle-tested and robust bitcoin is. Only exposure and time can fix this. We must be patient and keep building better Consumer Bitcoin products and services.

By the next halving epoch bitcoin will have better supply dynamics than gold and it’s already much better than fiat. When the level of credibility surpasses those other mediums we should have no problem exceeding their market capitalizations.