Simple #BITCOIN explanation for friends and family:

A Rolls Royce takes months of power to build. A Toyota takes minutes.

Each bitcoin has a cost of production. It took ENERGY to generate. This cost is programmed to get more expensive.

It takes work and energy to mint a bitcoin.

It takes zero effort to print fiat dollars.

That is why the USD is down 99% and bitcoin is up 14 billion percent. Simple.

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Discussion

If the hashrate doesn't rise, then the difficulty doesn't rise. Bitcoin is not programmed to get more expensive. It gets more expensive in reaction to more demand.

It gets more expensive due to a programmed disinflationary supply issuance. Nothing else has an immutably inelastic supply.

it doesn't matter how disinflationary something is if there is no demand for it.

Although I agree that a deflationary thing is much more sensitive to demand!

#Bitcoin is never before seen technology. There is nothing to compare it to. It is a different phenomenon. The immutably finite supply *alone* drives demand. People are surviving on this technology. The programmed increase in scarcity/value will only attract more people as other assets collapse in relation.

Betamax machines are deflationary. There are very few and the number gets smaller over the years.

Yet, they have very little value.

Something can be deflationary and not go up in price.

Nano has all of these qualities and it has less inflation than bitcoin.

Why isn't Nanos price higher than bitcoin?