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That last example postdates Bitcoin, and even Bitcoin entering public consciousness (in 2011), so why bring it up ?
by BlueTemplar 3mo ago
That last example postdates Bitcoin, and even Bitcoin entering public consciousness (in 2011), so why bring it up ?
- pphysch 3mo agoBitcoin was not much in the public consciousness by then. It was trading at ~$10, mainly on MTGOX. It's likely its transaction volume was much lower than other non-crypto digital assets (and MTG cards) at the time.
- BlueTemplar 3mo ago2011 is when it had its first big public boom - and bust, accompanied by even generalist press reporting on it. And the nerds at Valve would have been *in particular* aware of it. So causality is more likely to be reversed in that example.
- pphysch 3mo agoYou claiming that Valve hired an economist to study digital scarcity, not because of Valve's booming ingame economies, but because Bitcoin was at $10. Sure.
- BlueTemplar 3mo agoNo, I want to insist on Bitcoin's intellectual legacy. Before ~2011, only a handful of niche nerds at the intersection of cryptography and (goldbug) economics had heard of related ideas. After ~2011, everybody had, and started building their own (like Etherium).