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sure thing buddy. only you can understand what wealth means. > you fail at elementary economics in a typical bitcoin-fan fashion Instead of being condescendin
by rantwasp 5y ago
sure thing buddy. only you can understand what wealth means.
> you fail at elementary economics in a typical bitcoin-fan fashion
Instead of being condescending here is a tip for you: learn about bitcoin before writing it off. Who know, one day you might even change your mind.
> No school of economic thought claims such nonsense.
Can you google things? Do me and youself a favor and google "the scarcity principle"
Here I'll do it for you:
https://www.investopedia.com/terms/s/scarcity-principle.asp https://www.investopedia.com/terms/s/scarcity-principle.asp
I guess some schools of economic thought do claim such nonsense. Maybe you should have a word with them.
But wait there is more:
https://www.merriam-webster.com/dictionary/scarce https://www.merriam-webster.com/dictionary/scarce
scarce: deficient in quantity or number compared with the demand : not plentiful or abundant
Wow, who would have guessed it's in the actual definition of the word?
- lottin 5y ago> I guess some schools of economic thought do claim such nonsense. And what would that school of economic thought be exactly? > Wow, who would have guessed it's in the actual definition of the word? The definition of the word 'scarce' implies the notion of high price?
- rantwasp 5y agoyes: deficient in quantity or number compared with the demand if you believe in all the economic bs we are being fed, something scarce is going to increase in value until it's no longer scarce. that's literally the definition: deficient in quantity or number compared with the demand
- lottin 5y ago> yes: deficient in quantity or number compared with the demand If you want to go with that definition, then bitcoin isn't scarce by definition. Something can have a fixed supply and be abundant compared with the demand.
- deleted 5y ago[deleted]