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by survirtual
470 days ago
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The capped supply just makes bitcoin a no brainer. It is the first cryptocurrency, so it will always have value, even in a purely historical sense. This makes it brain-dead easy to justify owning some of it, which is a very favorable trait in the invisible war for freedom it fights in. But just as easily, a network of people can agree with different rules, and that's why I don't think it's so important. As long as the rules are transparent and well defined, that transparency itself is the revolutionary improvement. |
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Show me the incentives and I'll show you the outcome.
The capped supply provides a _selfish_ incentive to each individual to hold bitcoin.
Everyone wants to the world to be a better place. More fairness, transparent rules etc - but most aren't willing to put in the effort to make it so. The capped supply forces them to either make it happen or become weaker than those that do. It taps into people's fundamental urges and drives them to make the world a better place by giving them no real choice in the matter. Do or die.
BTW. I prefer to differentiate between bitcoin and crypto.
Bitcoin is one of the most important inventions in mankind's history ultimately going to $∞, while crip-toe is a snake pit of scams/flawed projects all going to $0 in the long term.
Also, describing bitcoin as an asset makes more sense than as a currency. Becoming a viable currency some time in the future would just be the cherry on top of the cake.