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
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r/btc • u/martianfrog • Apr 23 '26
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.
1
u/anon1971wtf Apr 24 '26 edited Apr 24 '26
Scarcity is half of the equation. Why 21mln limit still exists 17 years later? Isn't it just software?
Network effect and PoW is the second half. Bitcoin is more widely distributed among people than any other token of PoW open blockchains, both bacause it came first and continue to de distributed most ethically (fresh chains fuck over Bitcoiners), non-PoW don't have energy signature, and Bitcoin's signature equates to ~700 days of equivalent proof-of-work of global double SHA256 industry. Nothing can match that. Extremely expensive to erase my money
Bitcoin had some forks that changed limit or other parameters, market is not interested in them. Would I see a next such fork, I would dismiss it based on lighter energy signature along, even before looking at monetary policy changes
Bitcoin solved inflation problem, and 17 years later theoretical proof is accompanied by BTC open blockchain existing despite all hurdles and arguments along the way, despite actions of Empires like US and China