Artificial scarcity captures value, not creates it. This is a fact. So if Bitcoin is using artificial scarcity to capture value, who is it capturing value for? Certainly not anyone in particular; Not even the network in general. At best the artificial scarcity of Bitcoin benefits users that got in before other users, and the value from the new users is transferred to the old users.

I think this is the point that translate a lot of folks to say BTC is a scam. If so this is the only scam that works. Great post. SO glad this post will be available for everyone forever.

!BEER

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