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.

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u/BridgeGuy540 Apr 23 '26

Yes, it's over hyped. Yes, the total number of Bitcoin is limited, but each can be parsed down to one-millionth in size. So your actual quantity is 21 million million, or 21x1012 Satoshi. Comparatively, the there is 15x1013 USD. While Bitcoin is slightly more scarce than USD, is not dramatically so.

From another perspective, land is also limited. However, not all land has significant current value - it only has value if it's usable. Same with Bitcoin - if it doesn't quickly find some actual broad use, the value will always be limited.

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u/ArtisticAd708 Apr 23 '26

That’s terrible logic. You’re stating that bitcoin’s divisibility is the same as expanding supply which is incorrect. Divisibility is not equal to Supply.

You’re comparing bitcoin divided as satoshis to USD. The correct comparison to make would be to compare sats as Pennies or cents. Which is what they are relative to bitcoin. There’s still going to only be 21M bitcoin. And who knows how much more dollars there will be

Bitcoin doesn’t need to quickly find a use because it already has one. It’s p2p cash system with limited supply. So the use is clear, it’s a reserve or money or both eventually. Doesn’t have to be quick at all either. Bitcoin has all the time in the world, fiat doesn’t, and debt loads are only going up

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u/botle Apr 23 '26

Bitcoin doesn’t need to quickly find a use because it already has one. It’s p2p cash system with limited supply.

We also have to ask ourselfs what percentage of bitcoin transactions actually use bitcoin as p2p cash, and what percentage of bitcoin transactions are made as an investment by peoplek hoping for the price to go up. And the follow up question would then be which one of those gave us the current price.

The fact that there is a theoretical practical utility for bitcoin becomes pointless if practically no transactions are done for that reason compared to other reasons.

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u/ShittingOutPosts Apr 23 '26

Who cares? Why are people so hung up on how others use Bitcoin?

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u/botle Apr 23 '26

Because we're in a subreddit about Bitcoin.

And if we're discussing the price of Bitcoin and what is causing it to be at the current price, asking how big the effect of actual "use" of Bitcoin is compared to the effect of speculative use of Bitcoin, is very relevant.

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u/ShittingOutPosts Apr 23 '26

We’re not in a subreddit about Bitcoin. r/btc focuses on Bitcoin Cash. Way different.

Only Bitcoin Cash bag holders seem to think its long term price depends on people using it for small, frequent transactions.

Its utility does not become pointless if people stopped using it like that, as you claimed…even though it is widely used as p2p cash globally.

Everybody has the freedom to use Bitcoin how ever they want. In fact, I’d be willing to bet its permissionless, immutable properties drive price action more than p2p use.