> As Bitcoin becomes scarce to obtain, it's price will skyrocket
This kind of logic always reminds me of the Terra/LUNA fiasco. An economic model that works as long as nothing unexpected happens. For the price of bitcoin to skyrocket, you need a constant stream of new investors willing to buy bitcoin at these inflated prices. What if this just doesn't happen?
As with any investment, there's always the classic "Past Performance Is No Guarantee of Future Results". But with Bitcoin a significant downturn could be an existential threat if miners decide it's no longer worth their time and money to keep the blockchain running.
This kind of logic always reminds me of the Terra/LUNA fiasco. An economic model that works as long as nothing unexpected happens. For the price of bitcoin to skyrocket, you need a constant stream of new investors willing to buy bitcoin at these inflated prices. What if this just doesn't happen?