Exactly. And that is what happened with gold. It is now bought and held.
Anything that primarily is speculated upon will only be sold if people are pessimistic about the asset. If Bitcoin is expected to 10x, nobody will spend it.
And it being scarce would mean that people will be able to force the price up by holding.
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Bitcoin IOU's :) Spend the IOU's save the Bitcoin. XRP could solve this but they sold out to the banks years ago.
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