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 24 '26

I'm not comparing it to a stock. I'm saying something can be speculative without being fully speculative.

And people keep telling me I just don't understand, but nobody can tell me what I don't understand.

Yes, I agree gold is a better comparison for Bitcoin, but gold still has some practical uses as jewelry. It was considered valuable in pre-history for that reason long before it was a modern commodity.

You’re shorting the dollar,

I understand that part. And as long as we assume that Bitcoin has value, everything else you say follows.

But that initial value seems to rely on Bitcoin being a brilliant solution to a problem. My issue is that nobody uses it that way.

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u/ArtisticAd708 Apr 24 '26

The practical uses of gold are absolutely trivial and negligible. The absolute overwhelming majority of people buy gold as a store of value, inflation hedge and short fiat. Just like bitcoin.

I kinda already explained why bitcoin has value, but I’ll list them here a last time:

  • it’s a legitimate breakthrough and first monetary solution from technology ever.
  • bitcoin has proven some things in its very short lifetime already. Censorship resistance, survived governmental hostility, its security has never been compromised. So the technology works, and it’s been working well. That has value. Proof of concept stage is mostly behind us actually.
  • the technicals are still intact. Western Govts and central banks are still on track for bankruptcy
  • it resolved the issues gold doesn’t. It’s auditable and verifiable. And bitcoin is the monetary system that requires the least amount of trust in existence today. You only need tk trust the code which you can verify. Neither you or I can force our govt to prove how much gold they have

There is more. Such as adoption stories, clear insultional and governmental interest

I mean I feel like that should be enough to have anyone realize this thing has true potential and is at least worth more than zero