While there can only ever be a maximum of 21 million bitcoin, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoin in circulation could actually be millions less. MAKING IT A PERFECT AVENUE TO INVEST . Scarce resources ECONS 101 #personalfinance #investments
Sir, this is a casino
I grew 3 potatoes in my backyard. They are the only 3 potatoes in the world thats grown in my backyard. Very scarce resource. Accepting offers. Starting price 2.3 bitcoins. 🙂😱🥔
Current price 9.8 bitcoins 📈
Current price 3 bitcoins 📉
Well the op is basing his argument just on scarcity. There are so many traits to btc that makes it valuable
It’s a supply and demand game. You’re saying supply is always going to stay low. But where is the demand?
This guy is a horrible writer, but he is mostly correct. It’s the scarcest resource in the history of humankind, which makes it on par with human time. Your potatoes aren’t scarce because you can grow more. The most accurate measure of scarcity is stock to flow. Platinum isn’t scarce because it’s stock to flow is not as high as gold. Bitcoin has a terminal stock to flow of infinity. As Akamai said, bitcoin also has attributes that make it valuable on top of its scarcity. It has all the attributes that successful moneys have had over the course of history. (Scarcity, divisibility, transferability, verifiability, etc). The only one you can argue is maybe not as good is fungibility. Gold potentially does that better.
Wtf you talking about. %Gold purity may vary between Gold bars whereas Bitcoin is just the same for every 21 million of it. So how is Gold more fungible? Only threat in very very long term is maybe Quantum Computing breaking #256
Yeah I said it “potentially” does that better. The argument would be that since each UTXO is unique, humans could perceive one of them to be tainted by some illicit activity. You could coinjoin to disguise ownership, but a particular UTXO would still be forever tainted. Contrary, gold can be re-smelted, and you could never tell that gold bar was stolen from a bank. Your point about gold % I would put more in the category of verifiability. You could always re-smelt and remove the tainted quantities, so unpure gold does not hurt fungibility property.
The only argument you have for Bitcoin is it’s a scarce resource ? Please research economics beyond 101