this post was submitted on 10 Jun 2024
208 points (94.4% liked)
Asklemmy
43940 readers
635 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Bitcoin isn’t destined to go up because supply is theoretically set. Demand could easily disappear and there could be a massive sell-off that puts more supply out there. It’s easy to imagine BTC mining being banned in a major country because it’s incompatible with carbon emission goals, raises electricity bills, puts pressure of electricity grids, facilitates money laundering, or any number of things. That would trigger a sell-off and unless some whale is capable of being the unofficial central bank, there’s nothing to stop it.
He meant available supply, not total supply.