Thoughts on the MWC initial supply

The supply of cryptocurrency can be created in many different ways. For example, it can be purely proof of work mined, a result of a fork, created in a genesis block or other ways. Some people may attach their personal, yet irrelevant to others, moral judgment to the means of supply creation. No matter how the initial and other supply is created the price discovery process must proceed with buyers, sellers and holders participating 24/7/365 in the orderbooks.

Praxeology, the study of human action, does not attach moral judgments to human action or prices. Prices describe past behaviour but future prices are totally dependent on the subjective valuation from individual market participants based on how well they think the good will help satisfy their desires.

With gold the market does not attach personal sentiment to how the stock was created or distributed despite extremely immoral history, like the Spanish conquistadors. Likewise, with Bitcoin the market does not attach personal sentiment to how the stock was created or distributed despite some people thinking it will boil the oceans by using too much electricity and not being ‘green’ enough. If they do not want to buy Bitcoin for that reason, as the meme says, they can have fun staying poor.

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