I think I get it.
They like the thing. So they send me the thing hoping that I will like it too. If I like it and I use the thing it becomes a little bit more valuable.
But why would the thing become more valuable if most people only use 1% of what they have? And where do I use it?
Good question
Got a good answer?
Yeah this lone wolf 🐺 should have some answers
nostr:npub12rze589jx0gg6kslkjfl2gxxkhtlw73t5shyve5qrglrv6c2qflqejj7ns your wisdom needed here 🫡
Well….I use my thing 100% of the time.
Because saving is the best utility bitcoin offers everyone and most people still don’t understand that. We call it HODLing. There’s another word for you.
If you just deposit cash into the bank, that’s not saving because you will never beat inflation.
Define use. It sounds like you’re talking about how people consider most of their bitcoin as long term savings, and a small part as cash. They are still using the long term savings. Their unwillingness to part with it causes a shortage of it, until their unwillingness to sell matches up with other people’s desire to buy at some new price.
So what you described is this: https://github.com/libbitcoin/libbitcoin-system/wiki/Social-Network-Principle
These are some of the places it can be used: https://www.lightningnetworkstores.com/
Its also important to note, that it doesn't *have* to go up in price. The belief that the current monetary system is messed up is enough for the foundation of Bitcoin users to stay around.
Limited supply. As fiat currencies continue losing value, as they’re designed to do, more people, particularly in developing countries with high inflation and low access to banking, will turn to bitcoin as a way out of monetary debasement and an easy way to take control of their finances. As more people ditch their fiat and buy into bitcoin, demand rises, and so does it’s price.
It’s just supply and demand. The supply is fixed in code, so we know the limited supply is a truth. Then, once you understand why there’ll be continuous growing demand, it all makes sense.
