Quote from: ColdLava40 on Today at 01:38:51 PM

3. Bitcoin is practically referred to as a commodity, which shows similar characteristics to gold. The process of acquiring either of them will definitely lead to a reduction in supply; i.e., the more we mine, the more they are reduced.

Whilst there's the similarity and as for Bitcoin, there's no reduction of supply but it's fixed and the last Bitcoin that will be mined shall take a century before it happens, thanks to halving as this makes the mining per block smaller which will lead to the value of each Bitcoin higher and makes it even scarcer.

Quote from: Mia Chloe on Today at 09:59:00 PM

If not for the halving protocol the entire Bitcoin supply would have been mined completely a long time ago, making miners to then rely only on rewards from transaction fees.

Yup, and this makes satoshi a legend and genius at the same time. He understands all of these dynamics and when it was made it was during the crash before of the world economy IIRC/CMIIW. While there are projects that have a lot of premined for their developers, some have thrived and became popular but with Bitcoin, it's something else and more than those.

Quote from: Mia Chloe on Today at 09:59:00 PM

Besides this would infact make transaction fees to also increase.

IMO, this is just temporary and sometime in the nearest future there will be solutions with it or when the network isn't swarmed by these brc20 transactions anymore.