When someone tries to buy all the world's supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It's great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices. As the price keeps going up and up, some people keep holding out for yet higher prices and refuse to sell.
Discussion
And because it is so divisible you can buy it in small amounts by yourself 😄
would you be willing to link the sources for these quotes? it’d be great to be able to look into the context and read more
Spot on! The cycle of scarcity, greed, and waiting for higher prices is what makes markets so wild.
It doesn't get too expensive to buy because you can buy a fraction of a Bitcoin. So people will continue to buy a fraction of a Bitcoin regardless of how high the Bitcoin price is.
There will come a time when hodlers won't want to exchange their Bitcoin for fiat money and instead they will only accept things like good and services.
Everyone has a price or good and serivces they will exchange for but I'd say the majority of Bitcoiners are young so they will start using their Bitcoin when they are ready to retire.
So the hodlers are paid a premium for their personal scarce time not spending their own money
The revolution is underway