Scarcity isn’t just about the cap of 21 million. It’s really about the long-term holders who believe in Bitcoin, right? Think about it, so few people keep their coins even when Bitcoin was super cheap.
Is Bitcoin's True Scarcity About Conviction Rather Than Just Supply?
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Early miners were cashing in Bitcoins for pizzas, lol. Back then it was like free money. Now mining costs are skyrocketing and each BTC has a real price. Life happens tho, people need to sell.
I think it’s more than just personality. HODLing is about tech too. People want that asset they can fully control, you know? Satoshi built something special, no middlemen involved. That’s the magic of Bitcoin.
Yeah, numbers and codes are way more reliable than us humans. Holding is a strategy, but prices shifting hands means people will also sell. It’s not just about keeping a few coins.
In the long run, institutions will start hoarding Bitcoin, and that's gonna ramp up scarcity like crazy. Just look at Microstrategy piling up their holdings. If Bitcoin hits a million, we’re gonna see a lot of BTC gone.
You’ve got a solid point there. Personal belief drives Bitcoin’s adoption. If folks don’t trust it, they won't hold. So, while 21 million is a limit, personal conviction really creates the true scarcity.
kevin_bridgeFull Member
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#7May 31, 2020, 06:35 AM
But why is Bitcoin so dominant? Over 60% of market cash flows into it. Other coins don’t have that trust. It's the mix of various factors, not just that it’s the first or decentralized.
sigma_minerNewbie
Posts: 44 · Reputation: 8
#8May 31, 2020, 07:09 AM
Definitely, Bitcoin is scarce with just 21 million out there. But losing keys or wallets means less Bitcoin actually available. Those early adopters who hold onto their coins really benefit.
This is a cool topic for sure, but I’m not convinced yet. A lot of people trade for quick bucks, and we see hodlers sell when prices spike. Could this be wishful thinking or a future trend?
wallet_2018Member
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#10May 31, 2020, 03:23 PM
Ultimately, there’s this belief that tomorrow’s buyers will show up, right? It’s a weird cycle. Limited supply + holders leads to less Bitcoin in circulation. This isn’t just about the numbers.
Yes, the capped supply is important, but the real value comes from how people perceive Bitcoin over time. It’s the long-term view we should focus on, not just the total amount.
Everyone knows there’s 21 million BTC, but what's next? People either get into Bitcoin once they understand its rarity or they stick with old-school assets. The total supply isn’t the only reason for its price.