3 ms·
1. the question is not how scarce Bitcoin is the question is how abundant are fools 2. Your example is flawed, Bitcoin isn't an isolated ecosystem, it p
by nivertech 9y ago
1.
the question is not how scarce Bitcoin is
the question is how abundant are fools
2. Your example is flawed, Bitcoin isn't an isolated ecosystem, it parasitizing on a global economy. HODLers even use USD as a Unit-of-Account, when bragging about paper gains.
- notyourday 9y agoplease illustrate how my example is flawed without hand waving.
- nivertech 9y agoIn your example you start with 4 players each having $100, but IRL there are many more players with many more dollars who can and will join this game and 4 original players will eventually willingly or unwillingly exploit them. It's like Israeli Kibbutzim[1] had a members-only Communist-like system, by exploiting outside employees and living on government subsidies. Most kibbutzim are not self-sufficient and have to employ non-kibbutz members as farm workers (or later factory workers). [1] https://en.wikipedia.org/wiki/Kibbutz https://en.wikipedia.org/wiki/Kibbutz
- notyourday 9y agomarket is a closed system.