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troupotoday at 2:17 PM1 replyview on HN

Lol. All you have to do is think about five seconds without going into rants about over consumption.

Let's take Bitcoin. It has a predefined limited supply. That is, it already has an artificial deficit built-in. On top of that, obtaining bitcoin becomes exponentially more expensive over time (until it becomes impossible once all the bitcoin has been "mined"). Now you have to spend many magnitudes more resources to obtain even a tiny fraction of a bitcoin.

So even in the absence of any external world to compare to (e.g. without denominating Bitcoin in USD) why would anyone spend a limited resource they obtained? Especially considering that even today getting even a single bitcoin through traditional mining is nearly impossible except for the filthy rich miners running industrial-scale data centers.


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anababtoday at 4:28 PM

So you are saying there would be a limited resource becoming exponentialy more expensive over time? I guess there might occur a demand for such a resource? And mayhaps in that case the holders might decide to exchange it for some other assets they desire?

(ofc thats not the 100% correct description of bitcoin which depreciated against most other assets ytd but the idea still stands)

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