Btc2 is a shirtcoin, so will be the other ones. #Bitcoin code isn't scarce and is open to everyone but you can't create more bitcoin units to go past the 21M without being forked out. That's what we call the absolute digital scarcity.

nostr:nevent1qqspsgfu76p5evl309dw9vd4k70yq93aa876ec0ze9wusupg8x8h3lcpp4mhxue69uhkummn9ekx7mqzyr6m2hmtgjufj7etd6zxnf4907xn7wew7fczx4p5ghzqankyshhxgqcyqqqqqqgmc0ce9

Reply to this note

Please Login to reply.

Discussion

It's not a fork, it's a whole separate ledger with the same code

Or worse yet, a proof-of-work ledger with better privacy features

Fork is a new ledger too but you missed my point entirely. Better feature doesn't mean a new absolute digital scarcity.

If Bitcoin 1 is scarce,

Bitcoin 2 + privacy feature can be scarce

If you say that Bitcoin clones are not scarce because they could be further cloned, that applies to Bitcoin 1 also

Why is a forked version (starting a fresh ledger) of Bitcoin not scarce? There will only ever be exactly 21M BTC2

Just explained in another note. #Bitcoin GitHub code was forked thousands of times, once by myself too. None of them will ever become the absolute digital scarcity.

nostr:nevent1qqsxv6837kzesf36kz3qwd0amghk86c5nqmc55muh2jw3wjgdn0pmdqppamhxue69uhkummnw3ezumt0d5pzqs8v7kd4vqycz04ycvypkxwe65jlwmdly5d95qufkjl2ylp6dwv0qvzqqqqqqywpj0sd

I don't think #Bitcoin is scarce, I know it is absolute digital scarcity. That's massive difference.

When Satoshi created Bitcoin, he discovered digital scarcity. This event of discovery can't be recreated again because it's a binary thing.

Whoever tried to recreate it, created just another clone, a shirtcoin. Thousands of people tried, all of them failed. Yes, shirtcoins can be scarce but none of them can ever become the absolute digital scarcity that was discovered a decade ago.

What makes it scarce? Social convention to select this ledger rather than that one?

Because I can take the code and create a new ledger, which has all the same properties. The only difference is people are already using this ledger instead of that. Which is also the argument for the US dollar...

Read my note again, please. The event of discovery makes it different.

If you don't know how it can be scarce, create your own #Bitcoin and try to send me a few #sats. Unless you'll send a part of the scarce 21M, my wallet will refuse it as a counterfeit.

That's not physics but social convention

The physics part was about pow, I guess.