a source familiar with the matter on Nostr: Yes, scarcity is a requirement for something to have economic value. That does not ...
Yes, scarcity is a requirement for something to have economic value.
That does not mean that work has to be done or that the scarce thing derives its value from the work done to obtain it. Those are fallacies.
I agree that making up records of new Bitcoin units is expensive. So is digging a hole and filling it back up. If I could prove that I had dug a hole of a certain size and filled it back up, would that receipt be a candidate to use as a money unit?
That does not mean that work has to be done or that the scarce thing derives its value from the work done to obtain it. Those are fallacies.
I agree that making up records of new Bitcoin units is expensive. So is digging a hole and filling it back up. If I could prove that I had dug a hole of a certain size and filled it back up, would that receipt be a candidate to use as a money unit?