Quote from: God bless u on Today at 12:32:09 PM

Quote from: seradj0 on March 07, 2024, 08:53:32 PM

Hello all BTC
can we talk about the source behind BTC price
yes there is only 21m btc but iI think that it is not enough
it make anyone reach just by bying and hodling it

You probably don't know anything about supply and demand because if you do, you shouldn't be saying that Bitcoin having a fixed supply of 21 million isn't enough for it to grow in value over time because this happened because of the rule of supply and demand where the demand of Bitcoin kept increasing and because the supply is fixed, and not all the coins were in circulation, its value kept going up.

I think you need to do some research about Bitcoin's history to understand how it works what was its value in the initial days and how it struggled to be where it is today. You are right that it has great powers because it is a great innovation, but the limited supply metric is enough for it to be what it is.

I think he has his own reason for saying so, if you compare the world population and the total supply of bitcoin, bitcoin is really too little for people to own bitcoin. But OP forgot one thing that bitcoin has a smaller unit which is satoshi, and I think that when the demand for bitcoin increases to its maximum level (8 billion people in the world need bitcoin), we will need to get used to the unit more. Bitcoin is really too little compared to the needs of 8 billion people in the world.

I don't focus as much on bitcoin's supply as most people because that's not the only factor that makes bitcoin valuable. I combine both the supply and the practical application of bitcoin because even if it had a finite supply without too many useful utilities, it would be useless.