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>there still won't ever be more than 21 Million Artificial scarcity does not imply value, I can create a token from thin air, make the supply only 3 tokens, an
by enlyth 4y ago
>there still won't ever be more than 21 Million
Artificial scarcity does not imply value, I can create a token from thin air, make the supply only 3 tokens, and start saying it will gain value because there will only ever be three tokens. Also it's arbitrarily divisible to a lot of decimal points so that argument makes even less sense.
- kebman 4y agoYour argument defeats itself because there obviously is a demand for Bitcoin that is large enough to prompt entire countries to adopt it as legal tender. As such it obviously has value. What traders disagree about is how high that value should be compared to other things. Notice for instance how fewer and fewer people are interested in selling Bitcoin the lower it goes. But I bet you'd love to get people to believe it's worthless so you can get it at a discount. Again, this proves that Bitcoin indeed has value. As for artificial scarcity; well, artificial or not, at least Bitcoin has scarcity. Obviously artificial trinkets in the form of worthless metal coins, paper notes, or numbers in a bank's database, does not have any meaningful scarcity compared to Bitcoin. Btw, whatever scarcity there is for fiat is also just as artificial, except its rulers and influencers can make as much of it as they like depending on their mood that day. Not so with Bitcoin. Artificial or not, its supply is hard capped at 21 million coins.
- kebman 4y ago
- cm2187 4y agoBut the “fundamentals” of your 3 tokens are sound.
- hdjjhhvvhga 4y agoI just realized it is becoming more and more difficult for me to tell if people are being serious or sarcastic.
- forty 4y agoCongrats, you have just discovered Poe's law ;) https://en.m.wikipedia.org/wiki/Poe%27s_law https://en.m.wikipedia.org/wiki/Poe%27s_law
- deleted 4y ago[deleted]
- yread 4y agoThat sounds interesting! Can we see the white paper? And will you offer 20% interest?
- hndamien 4y agoIt would work equally well with 3 tokens (fundamentally), but the human psychology would differ.
- aaaaaaaaata 4y agoHuman psychology in finance markets is almost as underrated as team interpersonal chemistry in athletics.
- cudgy 4y agoAfter what we have observed with assets flying to astronomical levels when a worldwide pandemic hit against all common sense, it is amazing that this mantra still exists. My observation is that many people do not respect history, and they only think in terms of how markets behaved during their small lifetime. For example, the Fed dominating markets with a foolish policy of bailing out the poor performers and flooding the market with cheap money and waterfalls of debt has been done by governments in history with catastrophic results.
- knorker 4y agoInteresting. How do I invest in your 3-token? Please let me know, as I want to get onboard early. Take my money!
- TekMol 4y agoThe only easy and secure way you could do that is creating a token on the Ethereum chain. But a new ERC-20 token has so many downsides compared to Bitcoin. To name just one, lets start with the distribution. How would you get your token in as many hands as there are currently Bitcoin holders? There will only be one "digital gold" just like there was just one analog gold. And so far, there is no contender to Bitcoin to be seen anywhere.