Block ———
Stock-to-flow visualiser
The hardness of a monetary asset, measured as existing stock divided by annual flow. Higher is harder. Bitcoin's ratio doubles at every halving.
Stock-to-flow comparison
Silver (rough estimate)22
Gold60
Bitcoin (2024)120
Bitcoin (2028)248
Bitcoin (2032)503
Each Bitcoin halving slightly more than doubles the stock-to-flow ratio. After the 2032 halving, Bitcoin's will be more than eight times gold's. No other asset in history has this property: a supply schedule with a known, decreasing flow that cannot be altered by any authority.