Quote from: wasta on February 03, 2018, 05:46:52 AM

Quote from: franky1 on February 03, 2018, 02:44:14 AM

Quote from: hercules006 on February 03, 2018, 01:52:27 AM

In the field of economics, it says that, there are characteristic to determine if an object has value.

First, scarcity, if X (E.g. Bitcoin) has LIMITED supply then MAYBE it has value. Same in the nature of gold, gas and other minerals, one of the reason why its very expensive and it's getting more expensive as the time pass because it has limited supply.

If you read it carefully I use the word "maybe" because scarcity dont mean value, It's a factor that affects the value. If X is scarce but it has no use or not needed, it wont matter.

my analogy for this is:

my dog does 2 poop a day. for the first 4 years thats a total of 2920. poops
for the next 4 years, my dog only does 1 poop a day. thats 1460 poops
then for the last 4 years of life. only 1 poop every 2 days. thats 730 poops

my dogs poop is scarce, only 5110 poops will be available... want some?.. its more scarce than bitcoin
.. reply. nope

If you have 4000 poops or 4 nobody wants dogshit.
Above you an other calling it a hype.
Hype or not it triggers demand and high prices.
Scarcity has nothing to do with demand or supply.

We have no Koala in zoo's in Europe or the USA, so no koala poop.
No demand for koala poop either so it has no value although scarce.

You need demand.
Demand is the only thing that adds value to a item or commodity.

I dont get your point, why does poop was use? And why seems scarce is a main point you consider and not the whole idea? I dont see any relevant argument you have? Seems like you had suffer from major dip so your dumping here your emotion

hercules006

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