Reddit Posts
Mentions
Sure, let's take something else that's scarce.. say sign copies of a book where the artist died. It's now a finite\scarce resource. Now apply your point. Does it have market dominance? No. Are there other books, yes. Are there other signed books by different authors? Are there even nonsigned copies of the same book, yes. Having a substitute may reduce a scarce resource's VALUE but DOESN'T affect the SCARCITY. (Or for a more humorous example, try explaining how to your kid how all their favorite cheese pizza is already gone but there still plenty of mushroom and olive left at the party. )
There was never a future for crypto, broadly. All you crypto bros really are quite mistaken, just like the no-coiners claim. Cryptocurrency is **NOT** limited in supply, in fact it is *less* limited than the abominable fiat currencies! Y’all have failed to truly grok the most important lesson— “ABSOLUTE MATHEMATICAL SCARCITY ACHIEVED BY CONSENSUS IN A SUFFICIENTLY DECENTRALIZED DISTRIBUTED NETWORK WAS A DISCOVERY RATHER THAN AN INVENTION. IT CANNOT BE ACHIEVED AGAIN BY A NETWORK MADE UP OF PARTICIPANTS AWARE OF THIS DISCOVERY SINCE THE VERY THING DISCOVERED WAS RESISTANCE TO REPLICABILITY ITSELF” Within the broad category of “crypto” there is only Bitcoin; everything else is a shadowy smoke that vanishes as you grasp in the dark. But it’s only dark because you keep your eyes closed to the truth that should be most obvious. BITCOIN! Ya f*ckin idiots.
Lol yesss First learning in econ 101 SCARCITY ERRYTHING IS SCARCE
DIGITAL SCARCITY The ability to store and send value It’s that simple
I asked my coworker this and all he said on repeat was SCARCITY (though, he pronounced it incorrectly)
You can only discover ABSOLUTE VERIFIABLE DIGITAL SCARCITY ONCE!!!
This is a fair question. Here is my understanding. The simple answer is that there will not be a bitcoin 2.0 because of: game theory, opportunity cost and network effect. When switching from iPhone 1 to iPhone 2, there is zero opportunity cost lost between the two. You pay a one time price for the phone, and you get to have a better phone with all the new better features and you do not "lose out" on anything. Only one who "loses out" is the person who is still using iPhone 1, and they can always buy iPhone 2 later, at lower price. Nobody who has iPhone 2 will ever want to go back to iPhone 1. This means eventually, the amount of people using iPhone 1 will trend to zero. When switching from bitcoin 1.0 to bitcoin 2.0, you have to switch from a proven, globally adopted, recognized asset backed by a 2 trillion dollar market cap and secured by thousands of terahashes of computing power to some new untested unknown contester that nobody has yet proved the security of. You have to switch from a GUARANTEED safe bet to a UNKNOWN new shitcoin. How much of bitcoin 1.0 will you sell to switch to bitcoin 2.0? Every single dollar you spend on bitcoin 2.0 is a dollar you are NOT spending on bitcoin 1.0. This os how bitcoin and iPhone is different. Here is another critical point to understand about the value proposition of Bitcoin: Bitcoin is not limited by technical factors. It has some technological tradeoffs that have been made consciously. You cannot create a "technically superior" coin to bitcoin. The decisions made in the design of bitcoin are made specifically to optimize for the following values: SECURITY, DECENTRALIZATION, SCARCITY. In other words: Bitcoin is the only network on the planet that exists which is truly Secure, fully Decentralized, and it is the only asset that exists which is truly Scarce at the same time. Lastly, if any technical improvements need to be made, they will be applied to bitcoin 1.0 making it bitcoin 1.1, and it will continue to work on that network.