fudster guy saying bitcoin is not viable because there are too few available

[DeathAngel]

Who is the fudster guy you reference in the OP? People who are uneducated on bitcoin really should refrain from attempting to criticise it. It just makes them look stupid. We’ve been fighting uninformed FUD for many years now, lazy journalism & bitter, angry political leaders. Just ignore the noise & focus on accumulating as much bitcoin as possible. The people fabricating FUD will be made to look & feel very dumb.

[SamReomo]

I would not call that person a fraudster but a fool who really don't know much about Bitcoin. Anyone who wants to have his/her share into Bitcoin doesn't need to purchase a whole Bitcoin in order to get any profits from Bitcoin investment because someone can easily invest even $10 to $100 a month into Bitcoin and will have some share in Bitcoin market.

In fact it's always recommend to invest in Bitcoin the amount that doesn't impact your life in any adverse way. I have never seen someone saying purchase a while Bitcoin these days because everyone know that a Bitcoin is worth $35k and most people don't have $35k with them currently, and that's why they recommend to DCA $10 to $100 dollars a month into Bitcoin.

Some people believe that a Bitcoin will be worth $5 to $10 million a coin in future, and if someone starts investing in Bitcoin even from today will be able to have great returns in a decade or two. Let's say that if Bitcoin's price grows to $5 million a coin and someone who has accumulated 0.1 Bitcoin by following a DCA strategy then that person can literally sell his/her Bitcoin and get $500k in dollars. And, trust me there will always be abundant amount of Satoshis for investors.

[Captain Corporate]

The logic behind "too few available" is that the rich can't get infinite amount of it, that's the issue really. Think about it, what does corporations do? They make a profit, and do they just make the same profit over and over again every year? Of course not, they end up making more and more, any company that doesn't make more profit year by year, is considered having a bad year. So what does that tell us, companies around the world need more and more money to be printed, so that they could get more and more of it. If bitcoin was the currency, they can't keep getting more and more bitcoin, there is a finite amount, they will be stuck at some point and won't get any more than what they already have.

[PepeLapiu]

Just tell the fudster to buy USD or Doge. They both have unlimited issuance. He's be happy with that.
Better yet, make sand beach the new currency. Enough of that to work as a currency where I am

[danadc]

A person who says that is because they really have no idea what the economy means, because the less flow of bitcoin there is the better because the more it Appreciates , but that's what you do when you don't know much about Something basic , Inflation , It is something that could happen if there were many bitcoins without control and without limits, what I think is that he could have said that because it seems to him that bitcoin is expensive for him, but when it goes up more, what will he say then ? that Bitcoin is impossible and that there must be more to make it cheaper? Those who think these things are because they lack Understanding of economics, technology and the principle of Deflation.

[famososMuertos]

Well, what does reality say...that this allowed bitcoin to concentrate on a certain relevant percentage of users, but that may vary, the reality is that a consensus has been reached that the distribution of 1000 BTC in one direction They are considered whales, so sometimes addresses that have many bitcoins do not represent a single person, they represent many users.

In any case, this way of how bitcoin is distributed makes the satoshi, its decimal unit, acquire a discard value, it is obvious, but perhaps many do not see it that way, that is, they understand that 21 million is very little, Let's say that in a way it is a click bait: "it's only 21 million, buy now!"

In any case, Glass Node has this graph that helps understand how the distribution is currently.


^{Glassnode identifies BTC holders with names of underwater species. Source: Glassnode.}

On the other hand, even these data shown are references and are a good approximation of that possible reality.

[Yamifoud]

It is no surprise that a person who has no knowledge of Bitcoin will only spread false information rather than be helpful to the community. How to deal with this person? Ignoring is the best thing to do.

Last month, when I was traveling, I heard some people talking about Bitcoin and saying it was a scam. I know they heard it also from the television and I say that those who have empty knowledge about how this investment works will easily believe that Bitcoin is a big scam. They think that this kind of investment is a Ponzi Scheme --but I don't interrupt with discussion because is hard to educate someone if they don't give room for it.

[Abiky]

too few of them available for mass adoption.

so 1 btc = 100 million sats
so if at any time we have 100K BTC liquid, there would be 10 trillion sats available

the USA has 2.7 trillion available US dollars

so I dunno man I think in terms of sats I think there will always be enough BTCs available


Thoughts?

The guy doesn't even know what he's talking about. He's probably a fudster like you've said, or someone ignorant. While Bitcoin has a limited supply of 21m units, it's far more divisible than the US Dollar itself (8 decimal places). According to my calculations, there are quadrillions of satoshis on the Bitcoin network. That's more than enough for everybody to get into the game. If someday we run out of sats (which is very unlikely), developers could easily expand Bitcoin's divisibility. Maybe up to 9 or 10 decimal places?

Anyways, the main issue is not the supply but rather Bitcoin's ability to scale worldwide. It's still the day where developers haven't come up with a viable solution for this (the LN is still experimental). So it's going to take quite a long time before BTC gets adopted by the masses. At least, it's not as heavily-manipulated and restricted as the US Dollar.

[Ruttoshi]

So many people talk and claim as if they know much about bitcoin when they don't even understand anything about bitcoin. It is not a must that you should buy 1btc, and this is why bitcoin investment is open for both the poor and rich to benefit from because you can buy in sats based on the amount that you want to use to invest in bitcoin.

Such people will go around discouraging people who are interested to invest in bitcoin with the little that they have. There is enough Satoshi to go round for everyone that is ready to get started with he/her bitcoin investment at anytime. Only ignorant people will feel that bitcoin investment will not go round for everyone, because of its limited supply.

[The Cryptovator]

I am really not getting what exactly the OP wants to express. What's the real concern here? Is it about total supply, or are you worried that total market capital would surpass total USD? Anyway, don't mix the Bitcoin unit with the USD; nothing is conflicting here. You can always buy a unit of bitcoin. It doesn't matter what the price is or what the supply is. It's open to everyone. I will advise you to be more specific when you are writing a post. So it will help you get the perfect answers.

[panganib999]

Bro really thought bitcoins are indivisible lol. But in all seriousness I don't think the fear of this fudster's unaccounted for. Back in the early days of the crypto industry there had been issues with bitcoin's divisibility against its systematically dwindling supply as well, which is why Sats are made in the first place. Now, it doesn't mean we should understand and appeal to this fudster's wolf cries cause at the end of the day, this is no longer a problem in the industry.

Just goes to show how some problems that we had in the past might still live rent-free in other people's minds lol. Just imagine what problems from now would resurface as FUD Weapons in the coming years should bitcoin still remain topical!