Topic: Bitcoin is more than a currency or security, it's scarcity. - page 2. (Read 246 times)
What you just mentioned is part of the things we have in consideration for the adoption of bitcoin over the fiat traditional system and currencies because the monetary policies with governments are what permits for the continuous printing of fiat currency and that is why you could discover the unending increase on inflation rate over the economy and this is really affecting local currencies and economic growth, while the masses are most affected, but innother to evade this effect, people were adopting for the use of cryptocurrency for thier own personal advantage after they discovered it's benefits.
I was doing some research to add to my understanding on Bitcoin and discovered that many people still do not know how powerful Bitcoin can become in the future. Bitcoin was built differently and to be scarce, the total supply of Bitcoin is fixed but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again. If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
I do agree that scarcity plays a role in the value of an asset. For Bitcoin the value is mostly derived from the demand. Scarcity obviously plays a role as I had mentioned but that's not the only thing. We have multiple cryptos available with even smaller supply but they are not as valuable as Bitcoin. Scarcity is just one parameter to success here but no the only one. There are other parameters as well and also the demand of an asset plays a major role in making that asset valuable. Don't loose your sleep over the scarcity parameter.
Scarcity is not that important, if there were 42 millions coins instead of 21, the protocol would have the same value (but we will probably have a lower price, and people will likely have more coins). The fact that we have a FIXED SUPPLY is the important point imho.
I was doing some research to add to my understanding on Bitcoin and discovered that many people still do not know how powerful Bitcoin can become in the future. Bitcoin was built differently and to be scarce, the total supply of Bitcoin is fixed but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again. If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
I don't think that we can do that as we all know that BTC is controlled by the big investors not by ordinary traders that trade daily on long term just for the sake of certain profit. Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
These investor manipulate that market like the way they want and they don't care much about the sacrity of the BTC but they just want to have good profit for themselves not matter how many traders will go through the loss they don't care.
I was doing some research to add to my understanding on Bitcoin and discovered that many people still do not know how powerful Bitcoin can become in the future. Bitcoin was built differently and to be scarce, the total supply of Bitcoin is fixed but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again. If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
I do agree that scarcity plays a role in the value of an asset. For Bitcoin the value is mostly derived from the demand. Scarcity obviously plays a role as I had mentioned but that's not the only thing. We have multiple cryptos available with even smaller supply but they are not as valuable as Bitcoin. Scarcity is just one parameter to success here but no the only one. There are other parameters as well and also the demand of an asset plays a major role in making that asset valuable. Don't loose your sleep over the scarcity parameter.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Don't have inflation is key, not scarce because with same total and circulating supply, with time there will be more people in one country or on this planet and demand on that currency will be higher. It helps to increase its value but the first condition is, that currency must be accepted and used widely already. Better, it is legal tender already.You can fork Bitcoin source code, create your currency but if nothing to make it interesting for people to use it, it will have no value now and next 50 years.
Keys are: have good use case, utility, good value, adoption, not inflationary or better deflationary, with time its value and price will increase. Scarcity does not decide value or price if other things don't exist.
Year finance's YFI token is an example that scarcity does not help value and price.
It has only 36,647 YFI tokens in total supply but its price is only $7,236.
Halvings don't make the circulating supply shrink.
Anyway, scarcity is not the main thing about Bitcoin. I guess it's secondary, along with other features. If it's scarcity that matters most, then anybody could make their own version or fork that's scarcer.
The main thing about Bitcoin is decentralization. That it has a fixed supply is a great addition, of course. Coins may be more coveted because they're scarce, but this only follows if there's demand. Scarcity alone doesn't create demand, however.
Bitcoin's security as a currency, being decentralized, precedes scarcity.
Scarcity is important but without a doubt it plays second fiddle to decentralization, otherwise if bitcoin was centralized, it would not exist as its servers would have been confiscated already by governments all over the world.Anyway, scarcity is not the main thing about Bitcoin. I guess it's secondary, along with other features. If it's scarcity that matters most, then anybody could make their own version or fork that's scarcer.
The main thing about Bitcoin is decentralization. That it has a fixed supply is a great addition, of course. Coins may be more coveted because they're scarce, but this only follows if there's demand. Scarcity alone doesn't create demand, however.
Bitcoin's security as a currency, being decentralized, precedes scarcity.
We also have very direct examples of scarcity not being such a big deal, as there was a time in which altcoin developers in order to try to gain enough users began to burn some of its supply, and they make it seem as if this action will increase the value of their coin, but without a high demand already, burning the supply of their coin was nothing more but a gimmick.
coins in circulation do not have much impact on the price..
the market price is impacted only by the coins on the market order books. the supply on market orderbooks is not the same amount that is on the blockchain circulation
the biggest impact of market price range is the mining COST
if the cheapest cost to mine on the planet was $25k/btc 6 months ago but now $50k no one on the planet can mine for less than $50k which influences the markets new 'bottom' no one wants to go below.
no one mining wants to sell at a loss and too many people with higher mining costs then see $50k as the new bargain price so this creates a value support line threshold
the limited supply of 21m and the effects of the less coins per halving cycle add extra amounts of specilative desire/need/demand to the minimum value that give it a speculative price above the minimum value
the market price is impacted only by the coins on the market order books. the supply on market orderbooks is not the same amount that is on the blockchain circulation
the biggest impact of market price range is the mining COST
if the cheapest cost to mine on the planet was $25k/btc 6 months ago but now $50k no one on the planet can mine for less than $50k which influences the markets new 'bottom' no one wants to go below.
no one mining wants to sell at a loss and too many people with higher mining costs then see $50k as the new bargain price so this creates a value support line threshold
the limited supply of 21m and the effects of the less coins per halving cycle add extra amounts of specilative desire/need/demand to the minimum value that give it a speculative price above the minimum value
Halvings don't make the circulating supply shrink.
Anyway, scarcity is not the main thing about Bitcoin. I guess it's secondary, along with other features. If it's scarcity that matters most, then anybody could make their own version or fork that's scarcer.
The main thing about Bitcoin is decentralization. That it has a fixed supply is a great addition, of course. Coins may be more coveted because they're scarce, but this only follows if there's demand. Scarcity alone doesn't create demand, however.
Bitcoin's security as a currency, being decentralized, precedes scarcity.
Anyway, scarcity is not the main thing about Bitcoin. I guess it's secondary, along with other features. If it's scarcity that matters most, then anybody could make their own version or fork that's scarcer.
The main thing about Bitcoin is decentralization. That it has a fixed supply is a great addition, of course. Coins may be more coveted because they're scarce, but this only follows if there's demand. Scarcity alone doesn't create demand, however.
Bitcoin's security as a currency, being decentralized, precedes scarcity.
I was doing some research to add to my understanding on Bitcoin and discovered that many people still do not know how powerful Bitcoin can become in the future. Bitcoin was built differently and to be scarce, the total supply of Bitcoin is fixed but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again. If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Price will be more up in the future because the demand of BitBTCcoin and use-case also increasing day by day also most of the wallet holder dead and there bitcoin already gone to the blackhole so the price can be reached unbelievable amount in the future.
Exactly my friend, and what caused the devaluation as the government continued to print. Indeed, money continues to circulate, but its value is no longer in accordance with the price of goods for now if we want to shop for something.
Of course, this cursory study leads to the fact that Bitcoin also offers an option that can be used as a protection option against inflation while being decentralized in nature and Security on the other hand can also be used as a tool for Investment and Storing Value.
Of course, this cursory study leads to the fact that Bitcoin also offers an option that can be used as a protection option against inflation while being decentralized in nature and Security on the other hand can also be used as a tool for Investment and Storing Value.
but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again.
That's not accurate.The circulating supply is technically increasing even if there are coins being lost every day because there is new coins (about 450 bitcoins) are entering circulating every 24 hours. For it to shrink, more than 450 coins have to be lost every 24 hours.
But overall you are correct that with the capped supply and a decreasing reward we have scarcity in bitcoin and lost bitcoins contribute to that scarcity as well.
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I'm not sure if this photo was designed to talk about Bitcoin because in Bitcoin even if it costs $0 to mine blocks, the supply will still remain scarce.
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Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Technically the only currency in the world that has been able to come close to the definition of money is bitcoin.FWIW and to put simply currency is a medium of exchange and money is a currency that is also a store of value.
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If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Not exactly. Scarce goods that are in demand are valuable. Never forget this second part of the equation. Then we can go into whether scarcity is a good reason for people to demand it, and it probably is, along with other factors, such as being decentralised and being able to be transmitted quickly.
That's why it's such an important thing for bitcoin to hodl, got to remember that when it becomes even more scarce as time goes by, it will probably become more and more valuable thus it's a good thing to hodl bitcoin for the long-term and people still don't get it, the limited supply is a ticking time bomb to a really huge profit to whomever who will hodl bitcoin for the longest time, it's basically a century-long test of someone's patience. Even if you lose that test at the middle of the way, it's probably still a good thing because you're still going to get a lot of profit out of it but the caveat is that while you were hodling through those years, you're also accumulating your bitcoin to increase your stash.
For me Bitcoin was a great innovation in history, those who know its potential will love to be forbearing and give time to see some multiplication in their investment. Because of its discovery, we step up in the evolution of new technology which is popularly get the fame as Blockchain technology. Due to its existence, we get the infrastructure for digital payment systems without the interference of any intermediaries or centralized bodies, also have some popular currencies like ETH, BGB, BNB, SOL, MATIC, TON etc. utilising these emerging features of Blockchain.
I was doing some research to add to my understanding on Bitcoin and discovered that many people still do not know how powerful Bitcoin can become in the future. Bitcoin was built differently and to be scarce, the total supply of Bitcoin is fixed but the circulating supply of Bitcoin will always be shrinking and this would not only be happening every four years because of Bitcoin halving but it is happening frequently because of the lost of Bitcoin that might never be tradable again. If anybody knows how valuable scarce things are then they can be able to see how important Bitcoin is going to be when this knowledge gets understood by the world.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
Money needs to be scarce to preserve its value and Bitcoin is scarce therefore the future of money has to be Bitcoin and this is one of the best chances we have to accumulate it before it becomes more scarce.
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