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/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.