Re: Malthus Catastrophe - Thanos's Ideal - Bitcoin Supply and Increasing Demand
There are some criticisms of the theory. "It was made according to the conditions of the time, it is now rotten. Because technology has improved. We can produce more food." I think this is a narrow view. Doesn't technology have a saturation point? Of course there is! With technology, only doping was done. How much of the food produced today is natural and how much is healthy? Most people started to get cancer. Catastrophe may have been delayed for a while, but there is no escape. With the development of technology, the human population has increased excessively. What happens when technology reaches its saturation point? Human population will necessarily remain stable or decrease. We can see how similar this chart is to the bitcoin chart. : )
3. Limited Bitcoin Supply and Increasing Demand
Father of Modern Economy Alfred Marshall defines demand and supply in this way:
Quote
“Demand is defined as the desire for a commodity, backed by the ability to buy, and willingness to pay for it, at a given price, during a particular period of time.” (Dr. Alfred Marshall)
“The supply of a commodity may be defined as the amount of the commodity which the sellers able a willing to offer for sale at particular price during certain period of time.” (Dr. Alfred Marshall)
“The supply of a commodity may be defined as the amount of the commodity which the sellers able a willing to offer for sale at particular price during certain period of time.” (Dr. Alfred Marshall)
Bitcoin is limited to 21 million. About 40% have not been moving for many years. Total supply will decrease as people die. 21 million (*10^8) This number looks huge. Actually it is still scarce. Just like the resources in the world. The limited supply of bitcoin makes it valuable in the short / medium term. Can the Malthus Catastrophe be seen in bitcoin in the long term?
1. Currently, the problem of famine is NOT a problem of scarcity of food but of its redistribution. A lot of food in wealthy countries gets spoiled and thrown away because nobody ever buys it/eats it, while many people remain hungry. So that whole Maltus thing seems to be wrong.
2. I don't think comparing a food scarcity with Bitcoin scarcity makes much sense because while from one bread only Jesus can make enough food for many people, breaking BTC into Satoshis is perfectly fine if the price grows, and suddenly we don't have such a scarcity anymore.