Bitcoin, Digital Art & Scarcity
I recently sat down with a professional artist to discuss his art and teaching career. Eventually, the discussion led to art and the blockchain after a comment he made. He recalled that, when digital art first came out, the quality of it left something to be desired. His colleagues said that digital art was hardly art. He held reservations about that opinion, believing that, in due time, digital art could be at the forefront. When the Internet first came out in the nineties, he said, the people making digital art were computer programmers. However, eventually artists joined the online....
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It is common for people to reflect on every facet of their lives once they recognize the absolute, verifiable digital scarcity created by Bitcoin.
Bitcoin is obviously scarce. And it seems to be becoming scarcer over time. The post Understanding Bitcoin’s Scarcity appeared first on Bitcoin Magazine.
BitGesell represents a deflationary cryptocurrency that closely resembles bitcoin, but comes along with a few design changes. Its value proposition stems from Silvio Gesell’s financial market philosophy, who imagined monetary units that lose their value over time through demurrage. To keep things simple, BitGesell achieves scarcity through the means of accelerated block reward halvings and transaction fee burns. The Dawn of the Crypto Age & Replacing Outdated Fiat Over the last few years, the worldwide financial system has continuously lost its legitimacy, thereby positioning itself....
In Bitcoin, the promise of a limited supply is great. This was one of the biggest things that initially appealed to me when I heard about Bitcoin. “No more than twenty one million bitcoins will ever exist!” But can this promise be kept in the long run? Has the Promise Already Been Broken? Some would […] The post 21M Bitcoin and the....
We have good news and bad news. The virtual New York you’ve been waiting for is finally here, but it’s already sold out. On Next Earth, the NFT-based replica of our planet, some of the most expensive virtual real estate was in the digital replica of New York. Some lucky metaverse New Yorkers already own the likes of Central Park. That said, virtual Earth is big. With any area of Earth open for sale, there’s a powerful opportunity for NFT collectors to buy their own slice of the virtual planet. How Much Is Digital Land Really Worth? Every metaverse has its own NFT economy. The one in....