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Scarcity is not what makes Bitcoin valuable...

It is simply a MINIMUM REQUIREMENT for a token to be considered a contender as worldwide dominant ubiquitously accepted money.

There are other minimum requirements and Bitcoin has them all.

Nothing else does so it's no contest.

Some things that are not minumum requirements...

1) bank the unbanked nonsense

2) Perfect fungibility

3) Complete privacy

4) Instant L1 transactions

5) Cheap self custody for all, including the very poor

6) Uncensorable JPEG storage

7) Some shit about saving babies

8) Equal distribution to all humans

9) Difficult to use by criminals

10) Usage of clean energy

11) Some non monetary use case, or "intrinsic value" nonsense

12) Backing. Money is what backs, it does not have backing by definition.

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Discussion

Parman - Activate OP_GFY now!! 1y ago

Having more of such a required property doesn't allow the token to enter the race again. It's a MINIMUM; an all or nothing feature.

Eg, having ultra scarcity doesn't help if EVERY SINGLE OTHER minimum requirement is not met. If they're not met, then it's disqualified, not by a decision or by my opinion, but by economic consequences.

SwissNode 1y ago

disagree on banking the unbanked because that is just another way of saying uncensorable - ANYONE can use it and that IS a minimum requirement for a worldwide dominant accepted money

Parman - Activate OP_GFY now!! 1y ago

"Anyone who needs to, can", is a minimum, but "everyone must", is not.

Don't mess with me.

SwissNode 1y ago

lol - banking the unbanked is one of the salient properties of Bitcoin.

But in the sense: we are no longer precluding people from entering the network based on "whatever" reasons banksters make up...

SwissNode 1y ago

or in one word: permissionless

Parman - Activate OP_GFY now!! 1y ago

Banking the unbanked is not a feature of why bitcoin was created. It's to end central banking.

SwissNode 1y ago

it's circular. Central banking is evil because it precludes half of humanity - amongst other evil things of course.

In ending central banking we are permitting everyone to partake in systems of wealth transfer.

So it very much is about "banking everyone" - because exactly that is what Central banking is about - banking and fucking the wealthy people of this planet... It's all about control