Mind blowing metric: The 1 year velocity of the average unit of bitcoin has dropped to levels not seen since 2011. That is, the average satoshi is spent only 6 times per year! https://image.nostr.build/9715f484ecb6d303d2df2fcf8ed7983604733e7f56ba6dae8ec1ac3b130e97f8.jpg#m=image%2Fjpeg&dim=1920x1115&alt=Bitcoin+supply+velocity&blurhash=iOS%7EF%23e.uNpckWkCaeQmaKy%3DaKVYe.aff6aKkpafbvkpVsa1kCaLkBpHkWQnkCpHkCaekWkVVsj%5BuNaLVsaKaKj%5BkCkpaK&x=da60860fe81be9247121bb20ae6b85a04877ea2bd98b9d0fac0e27fa0c622417
Probably because lightning. All my transactions I would use onchain for are all being done with three on chain transactions I made two years ago via my lightning channels. Definitely had to impact this. I just reload them via strike and anytime I need to use sats to buy something I use those channels.
So what does this mean?
That a single satoshi only moved 6 times the whole year. It shows that people are holding andstacking. This creates a lack of available satoshis for more plebs to buy. Get em while you can maximize sats/$
But wasn't the whole point to use Bitcoin? Why holding it forever?
Saving and spending are both use cases.
Save and spend it. Depends on the percentages you allocate for your stack. Check this article out https://darthcoin.substack.com/p/bitcoin-be-your-own-bank-think-like
Thanks! This is something I have never even thought about before "You always have to think in the future, how much you will start spending from a UTXO. So always have prepared many different UTXOs with many amounts." Great article thanks for sharing!
On chain
I'm not sure that's a good thing in regards to building out the Bitcoin economy, unless sats aren't moving on chain because they're locked up in lightning channels and they're actually changing hands a lot inside those channels.