Bitcoin’s Price Rises Rapidly Due to Absolute Scarcity

Let’s talk about scarcity: what it is, and how it relates to the dollar, gold and bitcoin.

First let’s start by defining it. Scarcity is the gap between the limited supply of various resources and the limitless want of humans. The principle of scarcity is a core concept in the study of economics. Thomas Sowell, an economist at the Hoover Institute, defines economics as such:

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