Bitcoin’s Price Rises Rapidly Due to Absolute Scarcity
The fundamental structure of bitcoin quite literally ensures that bitcoin’s price will go up.Let’s talk about scarcity: what it is, and how it relates to the dollar, gold and bitcoin. First let’s start by defining it. Scarcity is the gap between the limited supply of various resources and the limitless want of humans. The principle of scarcity is a core concept in the study of economics. Thomas Sowell, an economist at the Hoover Institute, defines economics as such: “The study of the allocation of scarce resources with alternative uses.” There Are Two Different Types Of Scarcity: Relative....
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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.
A generation whose known nothing but mounting government debt finds the value in absolute scarcity.
CEO of MicroStrategy Michael Saylor remains one of the most vocal supporters of bitcoin. Countless times in the past, Saylor has always lauded the benefits of the digital asset, which he says is the best investment. His convictions are shared by his firm which remains the publicly traded company with the largest bitcoin holdings in the world. Now, once again, Saylor has spoken out in favor of the cryptocurrency, effectively snubbing its competitors while he’s at it. Bitcoin Is The Only Scarce Asset Bitcoin’s scarcity has often been one of the strongest arguments for the value of the....
It is rare that the London sky shines so bright you can’t find one cloud, but that was the weather yesterday in the capital that once used to run an empire where the sun never sets. In Washington DC, which has in many ways taken on that banner, the weather was more somber, just slightly less rainy than during the vote for Brexit, reflecting in both cases the seriousness of a monumental task that now faces the world and the country. “We assembled here today are issuing a new decree to be heard in every city, in every foreign capital and in every hall of power. From this day forward, a new....