In my opinion, he never has.

Well you see, Bitcoin is a swarm of hornets in cyberspace.

I’m pretty sure he doesn’t.

If he did, he wouldn’t use Coinbase (or any other third party) for custody.

Besides, scarcity was never Bitcoin’s main advantage. Its real power lies in the ability to exchange value permissionlessly. Scarcity only adds value by comparison to more abundant commodities, but it’s not the core property that makes Bitcoin valuable.

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