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#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
Lex Fridman Podcast
What Is Scarcity?
Scarcity occurs when demand exceeds supply. There's more demand for the thing than the supply can satisfy. Money as the ultimate token of obtaining that something is always scarce as a concept. If you can easily increase its supply, then all of a sudden you can compromise the scarcity of it over time and you can rob people through inflation. So that's why the market settled on gold as money.
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