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21 sats \ 6 replies \ @fiatbad 22h \ on: Are Sats Scarce? bitcoin
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.
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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.
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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.
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