Satoshi Nakamoto Said...
"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."
True words, my friend. This quote captures the essence of scarcity and demand in economics, which is also the backbone of Bitcoin's value. When there's a limited supply of something valuable, people will want to get their hands on it - that's human nature.
But as they buy more and more, the price goes up due to increased demand. Eventually, it gets too expensive for some people to keep buying. But for those who bought early? They're sitting pretty because they can sell at these "crazy high prices". It’s like hitting a jackpot.
However, there are always folks who believe the price will go even higher – so they hold on to their assets hoping for bigger gains in future. The whole thing becomes a game of patience and strategy.
This scenario is one I envisioned when creating Bitcoin: an asset with limited supply (only 21 million bitcoins ever) that could become highly valuable as demand increases over time.
