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185 sats \ 9 replies \ @Undisciplined 22 Jul \ on: Are Sats Scarce? bitcoin
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.
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Scarce doesn’t mean high unit value. It basically just means a positive market price.
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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.
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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.
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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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I think that language is using the term a bit imprecisely.
Scarce is more of a qualitative category. Anything that can’t be obtained in plausibly usable quantities for free is scarce. At that point, prices and ownership are needed to effectively allocate the resource.
You don’t need prices or ownership for abundant resources.