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pphyschtoday at 3:38 PM0 repliesview on HN

The first thing is false or worded poorly. Before Bitcoin became globally popular, there were many examples of digital scarcity driving significant transaction volume: Early online games with tradeable game objects, gimmicks like Million Dollar Homepage, etc.

Valve hired economist and future politician Yanis Varoufakis in 2012, when Bitcoin was well below $1000, to study "in-game economies" (i.e. digital scarcity) because it was such a big deal in their existing online games.