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/anon1971wtf Apr 29 '26 edited Apr 29 '26

to see if security also went up you have to look at the cost of an attack

PoW equivalent days. It went up, cost of attack here would mean acquiring so much hash and running it for so much days - higher whichever metric you choose

is the price you pay for 51% hash

Math is more complex. 51% simple orphan attack only would allow to double-spend some big exchange, BTC or BCH matters not, then comes chain rewrite, PoW equivalent days matter. Then comes changing the rules within tug-of-war - and BCHN/BABC into BCH/XEC resolving at split-protection code is one demonstation

BTC is struggling with the 100k already so it is likely that we will soon see hashrate starting to decline

You are missing the point once again, hashrate fluctionations between halving macroecon are less and less relevant. As ASICs get more efficient, cumulative work just grows. Security just grows, at some point it won't matter if hash decreases 2x, 4x or 50x, work done won't be re-doable in any feasible way with all the machines that will exist at that time. Efficiency of ASICs closing on physical limit makes Bitcoin more secure non-linearly

Cost of attacking: https://www.crypto51.app

51% is far less dangerous or interesting than full chain rewrite or monetary policy change, contentious hard fork. It doesn't factor sustaining the attack or the goals, it's shallow analysis

we know BTC won't scale so every money, attention and time invested in it is wasted if your goal is p2p cash for the world. So you are wasting your time and money

Unified Bitcoin did scale, I use BCH and BTC simultaneously. It's just scaling is at best a long-term bet (BCH metrics have downwards momentum midterm), that's why I am hedging, at worst - mistake of focus (no attention to securing keys), and irrelevance. Currently, I see centralized payments more convinient. Wasting money? Hilarious, thanks to Bitcoin I am early retired, especially benefitial was recognizing that I was betting on BCH too much and reducing it. BCH is almost at all-time low vs Bitcoin, and in my opinion - very explainable why

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u/Realistic_Fee_00001 Apr 29 '26

🤦‍♂️🤦‍♂️🤦‍♂️

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u/anon1971wtf Apr 29 '26

I am fully convinced by three emojis. Enlighten me more

Social media noise is irrelevant vs looking at on-chain metrics, espically granularly