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Author Topic: Value vs. utility  (Read 1427 times)
deisik
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January 12, 2017, 04:36:53 PM
 #41

Scarcity limit? So it is the scarcity of Bitcoin when all coins have been mined?

If I got your point correct, this still comes down to claiming that current production (e.g. number of bitcoins mined so far) is the scarcity of what is being produced (if 21M bitcoins is the scarcity limit for Bitcoin). Do you agree with that, yes or no? Apart from that, you should know it yourself that scarcity has direct impact on utility and value (though just scarcity alone is not enough, obviously), therefore the question of scarcity is always "on topic". Didn't you say essentially the same in your earlier posts in this thread?

put it this way

I don't read your empty verbiage

As to me, it is perfectly clear that instead of simply answering either yes or no, you are now trying to obfuscate the issue through phrase-mongering and verbosity. It is as clear that if you mean 21M bitcoins as the scarcity limit of Bitcoin, then the number of bitcoins mined till now would as well be the current scarcity of bitcoins. So your answer should necessarily be "yes", whether you like or not (otherwise, you would be discarding everything you said before). But in that case, your claim to what is scarcity is outright bullshit (which you seem to realize somehow) since this number is algorithmically predetermined, and it doesn't and can't possibly take into account the changes in demand, which is what the real scarcity of Bitcoin is determined by and stands for

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