Topic: Bitcoin scarsity, the reason it's worth hodling bitcoin - page 2. (Read 326 times)

Limited availability of BTC is a plus point when BTC is viewed as an asset. It isn't a plus point when it is viewed as a payment method op.

This isn't the primary reason why BTC should be HODLED to be honest. The primary reason in my opinion is the ability to conduct financial transactions anonymously online without any outside interference.

Also, I disagree with your statement regarding FIAT prices going down with time. Many FIAT currency prices have increased rapidly with time.

companies as big as Tesla are even using bitcoin at this time and several other institutions are starting to get into bitcoin. this is the real adoption being made of bitcoin. Tesla applies the Bitcoin payment option to be able to buy a Tesla car. This is also what causes BTC's new ATH to top the $ 60k mark

Regarding the scarcity of bitcoin, currently the bitcoins in circulation are still 18,666,012 BTC and 2,333,988 BTC left.

Scarcity is the main factory that is driving the bitcoin price to a new ATH all the time. There are only 21 million bitcoins to be ever created and yet we have about 8 billion people in the world trying to put their hands on bitcoin. The bitcoin is definitely worth HODLing because the sky is the limit for bitcoin as more and more are jumping into bitcoin every day.  

Honestly this is not the only reason that Bitcoins is worth holding. The scarcity does not only make a strong statement in regards with the current price but at the same time it would create more opportunities for the development. There are many other things that makes Bitcoins more important. For example :

It's decentralized nature is honestly a blessing for people since the manipulation from the governmental authorities is always at a bay.

You can always transfer using bitcoins to other countries without much transfer fee. It's more or so very convenient.
It makes it much easier to start your own business and to give it a worldwide opportunity. You can just wait years if done though centralized governmental bodies.

Bitcoins is not only a currency which is highly integrated with the present economic ls but at the same time it is quite open for the future too. There is a lot of scope therefore I do think that we will see a lot of growth in the future.

There is a lot of scope in the lightning network too and at the same time instant transactions will be possible at a much safer speed.

The benefits are endless ! What you mentioned is just a small part indeed. You should explore more about it.

I think there are important nuances to be made here. For instance, while Bitcoin is scarce, and it is related to its price growing over time, merely being scarce is not enough to be of interest to people. On the other hand, something can be way more abundant but generate more income and cost more per item. Imagine a famous author who writes a great book, sells the book at $15 per item and sells 2 million copies. And then there's a writer wannabe who writes a boring book, prints 1000 copies and sells the book at $5 per item. His book isn't popular, so he doesn't even sell 1000 copies of it, whereas the first author sells 2 million books and has another million of them in print. It's clear here that the wannabe's book is way more scarce than the book of the popular author, and yet the prices for his books don't rise and are actually lower than those for the books by the popular author, even though the 'supply' is lower for the wannabe author. The point is, scarcity doesn't guarantee the price rising because if there's low demand for a scarce resource, its value isn't going to rise.

If that's what elite people do, we've seen lately when Elon Musk gets into twitter about Doge. Doge went straight to the moon. if you want to make bitcoin has an old trend there must be a lot like elon musk entering into cryptocurrency.

Scarcity is a concept that exist with most things on earth, there really just isn't anything that is unlimited in nature. Gold and other precious metal are the common form of assets that is scarce, are they as valuable as Bitcoin? The only reason why Bitcoin is popular is because of the unique characteristic that it has, transparent, secure, decentralized, etc.

The reason why Bitcoin's price keeps on growing is due to the increasing adoption and the speculation around the currency. Having a limited supply is desirable but it is hardly the reason why Bitcoin's price keeps on rising. A deflationary currency is of no use if there is no demand.

So when you want to invest in bitcoin, you can buy it from now on and not sell it if you're going to hold it for a long time, so you do not get worried about the bitcoin price fluctuation. You will have more chances to buy bitcoin if the price is down because that can give you the time to accumulate more bitcoin. You do not panic if the price down because that will be a discount time for you to get more bitcoin. If the price jump to the highest price in the short term, you can sell it to take profit or you can hold it for more while you can wait for the downtrend that will always come after the price increase.

But you should have a plan to invest in bitcoin because that is what you must prepare. The plan can be how long you will invest in bitcoin, how much money you will use to invest in bitcoin, and else. By doing that, you can follow step by step from the plan and reach your goals in the future.

The founder of cryptocurrency, bitcoin is main reason for its price. The technology and the protocol of bitcoin makes it worth to invest.

Being your own bank with bitcoin. BCash has same scarcity of bitcoin but see how its price has been falling from 2017 to 2021. People are vague and were scammed that it is true bitcoin in 2017 but it did not last too long. After 2018, its mask was taken off and the real bitcoin is bitcoin (BTC).

Any scam attempts after BCash failed in shorter time and they have lower price than BCash. Hashrates on their networks are lower than Bcash and can not compare to bitcoin.

You mean 19 million bitcoin because I don't think that satoshi is going to release his 1 million. It really is worth it to hold your bitcoin but you have to know when you are going to hodl and sell your bitcoin because you need the money that comes from it in the end. Scarcity will only happen if the exchange of bitcoins from other addresses are getting lower every day.

Bitcoin is worth holding because BTC is a store of value,a medium of exchange and most important,an increasing amount of people and companies have trust in Bitcoin.
The Bitcoin price is going up because of the increasing demand for BTC.Scarcity has some role in the process,but scarcity is nothing without trust.
You can make any financial asset to have a limited supply and scarcity,but will the people buy it,just because it is scarce?

Bitcoin's limited supply (ie. scarcity) is not the reason for bitcoin's success and the massive potential for growth it has, it is just the cherry on top. The real reason for bitcoins potential is the unique utility it provides as the only available decentralized currency that can work globally in the safest way possible.

If it were any other way then thousands of altcoins that have limited supply would have also succeeded, some of which should have surpassed bitcoin since they are much scarcer than bitcoin (eg. 42 coin that has a supply of 42 coins!).

The best thing that has ever happened to me is to invest in Bitcoin. My bank is now at the palm of my hand with no middle man involvement. It is a good thing to invest in a deflation model with scarce resources. Moreso, with institutions jumping in, the price will skyrocket and will not stay on the moon but beyond jupiter.

Investing in fiat? well, keeping your money in fiat will just be taken by the depreciation. Scarcity is one of the best factor why many of us are holding it.
Fiat has inflation while bitcoin is eflationary.

Also everyone should not wait for 2140, for the supposedly last bitcoin to be mine. I think by 2038, we will have a full grasp of bitcoin to be scarce as we will have mine 20 million bitcoin by that time. And the last 1 million bitcoin should be mine in the next 100 years. So it really make it worth to hold bitcoin at least and then see how the price goes. Maybe we will see the price in like the 6 digits or even more.

Going for scarce is really a smart thing to do as it is much more valuable. And when you HODL your Bitcoin, I think you will most probably be in more profit compared to investing in fiat. Devaluation is really a big disadvantage for fiat that makes people think twice before investing in it.

Limited supply is just one of the key factors that makes Bitcoin valuable, it has other r qualities of being decentralized and immutable. An asset actually has to fulfill a need for it to have a sustainable growth (as Bitcoin does), otherwise it would simply bubble up and burst eventually.
During the tulip mania, the value went high due to scarcity and the perceived worth that was placed on it, this wasn't enough to sustain the price for long, and it crashed down when people realized it actually had no utility.

There has been many bitcoin critics that have made negative statements about bitcoin, some says bitcoin is a ponzi scheme, some says bitcoin will eventually fail, some do not just like bitcoin for no reason. But people that understand the basis of economics and know bitcoin very well are the ones that can differentiate between bitcoin and what ignorant (bitcoin critics) people do say about bitcoin. It was so surprising as bitcoin became the most successful asset of last decade, and also getting more support from people as they are more knowing about bitcoin, knowing it is the asset of the future, the digital gold and the modern ways money can be used as an asset.

Bitcoin was create in 2009, only 21 million bitcoin were created which to be mined by miners, while the last bitcoin is estimated to be mined in 2140, bitcoin was created in a way to be an asset that will appreciate in value over time. Although, the price do fluctuates, but after long time, the price will increase, a good reason will should go for it.

Bitcoin scarsity
Only 21 million bitcoin were created and that will be mined, this makes the total supply of bitcoin that will be available to be limited, this makes bitcoin a scarse asset. Recently, almost 19 million bitcoin are mine already, and ever since 2009, the price of bitcoin as been increasing. Traders do want to take advantage of the price fluctuations but many traders lost bitcoin during trading, but those that have been holding bitcoin and never panic all gained.

It is never too late to invest on bitcoin, unlike the fiat that will devalue as time progresses, the fiat are regulated by the governments, the governments regulate it in a way the price also increase and decrease too, but after long time, the price will significantly reduce after several manipulations. I am not saying holding fiat is bad but not advisable as the value will continue to decrease  because of government manipulations, that is why we need to go for what is scarse because if something is limited, it means people will know about it, this will make its price to be increasing as people demanding for it will be increasing.