Are Sats Scarce? \ stacker news ~bitcoin

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340 sats \ 27 comments \ @OT 14h bitcoin

There are around 2 quadrillion sats in circulation with about 100 trillion left to be mined. Having such large numbers are generally not considered to be scarce. When we use the words trillions or quadrillions it is normally talking about stars, cells or atoms.

Say it with me now...

Sats are NOT scarce.

sats are scarce81.3%

sats are NOT scarce18.8%

32 votes \ 9h left

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185 sats \ 9 replies \ @Undisciplined 14h

By that logic, most raw materials aren’t scarce either. There are far more gold atoms than there are sats and there are even more atoms/molecules of most other substances.

42 sats \ 8 replies \ @OT OP 13h

Well, why would I zap you 50 sats if they were so scarce?

22 sats \ 2 replies \ @felipe 7h

Then I challenge you to zap me 100k 😁

0 sats \ 1 reply \ @OT OP 3h

For you... 7

0 sats \ 0 replies \ @Undisciplined 3h

The must be pretty scarce if you can only spare 7

0 sats \ 4 replies \ @Undisciplined 13h

Scarce doesn’t mean high unit value. It basically just means a positive market price.

42 sats \ 3 replies \ @OT OP 13h

I still don't see how they're scarce. There are plenty of websites or platforms that give sats for free like SN, nostr, the Fold wheel etc.

I get that having "wholecoiner" status will be very rare, but you don't have to buy a whole bitcoin.

I could potentially zap 2-3000 people for the cost of a cup of coffee.

0 sats \ 2 replies \ @Undisciplined 13h

I could potentially zap 2-3000 people for the cost of a cup of coffee.

The fact that there’s an upper bound is what makes it scarce.

Those giveaways are similarly bounded. If sats weren’t scarce, then no one would be trying to accumulate them from those faucets.

42 sats \ 1 reply \ @OT OP 13h

I still think that in this period there are enough sats to go around. Scarce isn't the right way to describe them. If bitcoiners, companies and nation states keep hoarding I think there could be a time when sats become scarce. We'll have to see how it plays out.

Maybe I'm missing something... I hear it every day "Bitcoin is the scarcest.... the world has ever seen" etc. I'm not seeing it.

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42 sats \ 1 reply \ @grayruby 10h

Sats are both abundant and scarce. It’s a beautiful paradox.

40 sats \ 0 replies \ @OT OP 3h

I should have add that option in the post.

21 sats \ 6 replies \ @fiatbad 11h

The fact that their number is set makes them more scarce than anything we've ever seen.

Gold atoms appear to be infinite in the universe. We can't measure or verify their supply, so how can we say they are scarce?

Sats are scarce because the exact number is known and is easily verifiable.

0 sats \ 5 replies \ @OT OP 3h

True. They still have a fixed supply where as everything else can inflate.

These days people are still zapping each other 10's, 100's and even 1000's of sats. Maybe there will come a time that sats aren't so easily obtained and will start to feel scarce.

21 sats \ 0 replies \ @fiatbad 2h

Exactly.

Sats ARE scarce. But only the wealthy care about scarcity. Most people are just trying to survive til next week. They'll use whatever medium of exchange their local area uses. Scarcity to the majority is meaningless.

But the wealthy absolutely care about scarcity. They need a place to put wealth that won't be siphoned from their local government, or mined from an asteroid. They lay awake wondering how they can preserve their wealth across multiple generations; in a world that is constantly trying to take/steal that wealth. Mining more gold is one way in which they are "stolen" from. So even gold isn't safe in their minds. They are frantic for something else..... something Mathematical, digital even.

0 sats \ 3 replies \ @fiatbad 1h

Also.... bro.... 1k Sats FEELS like a lot to me.

A few years ago, I used to zap that much for things I was really passionate about. But today, 1k is A LOT.

And this is with Bitcoin being only in the top 5 of the world's 160 fiat currencies. Wait until it's in the top 3, and 1k Sats will really feel like A LOT.

34 sats \ 2 replies \ @OT OP 1h

100 sats feels like a lot to me! When someone zaps me 1k (very rare) I feel something like I just won the lottery.

However when someone zaps me 1 sat I'm like why bother.

0 sats \ 1 reply \ @fiatbad 14m

I just zapped you 34 Sats. How does that make you feel?

0 sats \ 0 replies \ @OT OP 8m

Happy

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15 sats \ 0 replies \ @beameduplol 10h

There's a lot of sats to own, yes, but considering how ideally Bitcoin is to be adopted by billions of individuals in the world, even 1 billion people owning a thousand satoshis is about 1 trillion allocated. There's still a lot remaining in that case, but you'd eventually run out,

0 sats \ 0 replies \ @dgy 8h

That is less than a million sats per person (~255'164 sats) currently living on that planet.

0 sats \ 0 replies \ @BitcoinIsTheFuture 11h

Well 300 billion pennies have been produced, countless virtual ones. So baby steps. Lol

0 sats \ 0 replies \ @BononXD 12h

let me put it differently, sats is not cheap, but it is currently quite undervalued, I sincerely hope that Bitcoin will completely replace fiat money.

0 sats \ 0 replies \ @BlokchainB 12h

I don’t think so. We have a lot of sats in circulation. If someone wants one sat they can get it.