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It's the law of supply and expand. Any object is worth approximately (all the world's wealth) / (number of that object in existence). This guarantees Bitcoin w
by rspeele 6y ago
It's the law of supply and expand.
Any object is worth approximately (all the world's wealth) / (number of that object in existence). This guarantees Bitcoin will always have value since supply is limited to 21 million.
It's also why my cheese tokens become sound money if Chuck E. Cheese goes bankrupt and is no longer operating, but they're junk right now while they can still be used to play arcade games.
It's also why I'm forking a new version of Bitcoin with the supply limited to 21 thousand. It's also got stable value and currently isn't trading for much but I'm holding it with the expectation that the value of every other asset in existence will rapidly depreciate soon.
- SketchySeaBeast 6y agoObjects are only worth what people would pay for them - rarity is only one factor. Bitcoin forks are even less compelling as anyone can make them at any time - there is an infinite number of them. So the actual supply isn't 21,000 of your bitcoin, it's all the possibly forked version of bitcoins. Some of those may gain popularity, but I have no idea why you think yours would be.
- iso1631 6y agoSarcasm
- SketchySeaBeast 6y agoYou could say that in this case, but just below is someone arguing that Bitcoin is special because of some nature it has that nothing else does when it comes to 1 BTC == 1 BTC.