Quote from: lobat999 on October 21, 2019, 11:45:27 AM

Quote from: Argoo on October 20, 2019, 06:08:33 PM

Quote from: kevpantof on June 21, 2019, 08:24:46 AM

Quote from: TimeBits on April 23, 2019, 06:35:09 PM

Sorry I been up for 24hours and my thoughts are just off the top of my head. The stuff I am talking about is in the middle of the video

https://www.youtube.com/watch?v=494ki3Dz9pM

I'm sorry but you're getting it wrong, the way I see it, Bitcoin is not really limited like people think. Every single day there are lots of people buying and selling Bitcoin and it's never going to stop. And when the demand for it gets high the price will as well be high, which means that it reduces the amount that people are able to purchase with a particular amount. If you can buy 1 btc with $1 and there happens to be a high demand, then 1 btc will start selling at $2 and that means that you will no longer be able to get up to 1 btc with that amount and will have to opt for 0.5 btc. You see?

Apparently, it meant that 21 million bitcoins will be mined, but over time, in fact, their number will decrease due to natural decline. Already today, more than six million bitcoins from the extracted 18 million have been irretrievably lost. Over time, the number of lost bitcoins will increase. Therefore, over time, the number of working bitcoins will decrease and the time will come when there will be very few of them.
Of course, given the fact that Bitcoin is planned to be mined before 2140, these will not be our problems.

Somehow I wasn't able to watch that video as I assume it wasn't meant to be shared publicly, hence it was made private but I would like to assume that OP is talking about Bitcoin and its limited supply.

First of all, the fact that it has limited supply may lead others to believe that its scarcity will lead to its demise just like those critical resources needed for human to survive e.g., water, air, food, etc., but I believe this will not happen and I would like to point out three things that makes Bitcoin viable for long term use - its deflationary model, its fungibility and divisibility - all of which could counter the effects of its limited supply. Imho.

I totally agree with those 3 things that you had mentioned above which is definitely a valid one which would really able to counter up that possibility.
We cant totally compare Bitcoin to other things when it comes to scarcity matters.This is a digital currency not a natural resource.
The only thing here is that if scarcity comes takes place and then the demand bloat out then i do see the high value of it.