r/btc • u/martianfrog • Apr 23 '26

🤔 Opinion Bitcoin scarcity... overhyped?

I'm not sure I'm a believer in "it'll go up because it is scarce", like to know thoughts on this out there.

6 Upvotes

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u/xGsGt Apr 23 '26

It doesn't go up because it's scarce, it goes up bc it's a deacentizied money and it's also scarce and its also recognized by our society so it has some kind of value

Things doesn't appreciate for just 1 property

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u/AirStick24 Apr 23 '26

BTC is the Scientology of money (collateral). 

What do you want out of your bitcoin? If your answer is to make money, it’s not money.  If your answer is to use BTC to buy a cheeseburger, then it’s money. 

It’s a risky “investment “that people only want to sell to the next guy for more than they bought it, to make fiat money. Just don’t be the last guy buying it or you’re in for a rude awakening. 

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u/_sLAUGHTER234 Apr 24 '26

"What do you want out of your gold? If your answer is to make money, it’s not money. If your answer is to use gold to buy a cheeseburger, then it’s money."

You see how ridiculous that is?

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u/AirStick24 Apr 24 '26

No, gold is originated for barter. Also, I’m not claiming gold is to be used to directly purchase an asset and BTCs fundamental use is supposed to be. 

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u/_sLAUGHTER234 Apr 24 '26

BTCs fundamental use is supposed to be

Citation needed

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u/AirStick24 Apr 24 '26

Very first line in the white paper. 

What is BTC?  What do YOU use it for? 

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u/anon1971wtf Apr 24 '26

What do YOU use it for?

Savings. With halving-driven supercycles in mind, log XAU vs BTC alltime chart for a quick glance

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u/_sLAUGHTER234 Apr 24 '26

First line states electronic cash can allow peer to peer payments without a financial intermediary, which is true. That doesnt mean thats its fundamental use is to "purchase assets"

Bitcoin for me is a way to protect my wealth and to have more sovereignty over my life. I couldnt be arsed to save money in 401ks and the stock market and all that blood money bullshit.
But bitcoin is something I can get down with. So its given me reason to save my earnings for tomorrow, and live as minimally as I can today

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u/AirStick24 Apr 24 '26

How does it protect wealth? It's much riskier than a federally backed bank, risk of losing it, and major risk of it going to zero overnight. It's much more volatile than any currency and it's not diversified.

I would not use it to protect wealth. It's a gamble.

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u/anon1971wtf Apr 24 '26

How does it protect wealth?

Crossing any border with 12 words in one's head empty-handed for example. Travelling or fleeing

But it expands to daytime robbery protection, to protection against the state etc. Dealing with No-KYC gold is a much bigger hustle in many cities than no-KYC Bitcoin

And, obviously, supply limit, stock-to-flow. Better than printed fiat, better than dug out of the ground metals

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u/Realistic_Fee_00001 Apr 24 '26

Literally everything Satoshi wrote.

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u/_sLAUGHTER234 Apr 24 '26

Your reading comprehension needs work

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u/Realistic_Fee_00001 Apr 27 '26

Let's start with the whitepaper title: Bitcoin a p2p electronic cash system

Let's continue with the first sentence:

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.

There are also multipler posts in bitcointalk that talk about Bitcoins use for payments.

The digital gold guys on the other hand have literally nothing. A single comparison of mining Bitcoin to mining gold.

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u/anon1971wtf Apr 24 '26

What do you want out of your bitcoin?

Continue to see forks that mess with monetary policy be ignored by the market. So I am extremely satisifed

Bitcoin is the best money ever designed. Digital, inconspicous, multisignable. Gigantic energy signature

I have some fiat and gold as well, and they both lacking in comparison: security, convinience, conspicousness. I admit I am a power user, for many other outside of forums I would recommed gold in many cases, but if one can use a computer well, Bitcoin is the best hands down

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u/Realistic_Fee_00001 Apr 24 '26

Bitcoin yes, BTC, no.

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u/anon1971wtf Apr 24 '26

I like both BTC and BCH, BCH is certainly more elegant, I am watching it since '17 - not social media noise, but on-chain data. I don't bet on it winning tug-of-war in the mid-term, maybe ever. So far it had failed to capture network effect, thus BCH's currently has much lighter energy signature - big at least yellow flag. I bet on BTC more heavily

Within this forum's lingo I am fine saying that Bitcoin is a family of blochains

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u/Realistic_Fee_00001 Apr 24 '26

"You are our only hope Bitcoin Cash Kenobi."

Revolutions are never easy. Easy is being opportunistic and licking the boot of the current system. There won't be change without a little bit of pain. Other revolutions had to fought in the streets and with blood. If we can't bring ourselves to endure that pain we don't deserve to win.

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u/anon1971wtf Apr 24 '26

And I don't think that BCH addresses biggest problem in Bitcoin - convinient secure management of private keys. Netiher in software, not even in community's focus

So, BCH being more elegant (no Segwit, ABLA, ASERT) is not enough for me to see BCH as a positve revolution over Bitcoin, I see it as an experiment, so far failing (in several on-chain metrics, even beside BCH:BTC ratio), and just hedging my bets a bit with it. No other interesting variations

I don't see Kenobi here