I kept getting drawn to a post Scarcity Makes Everything Desirable (Including Bitcoin) and I had so many thoughts run through my head at the time that I couldn't process them in order to answer, and as I said I would I have sat down now to tap them out on my keyboard and hope that they make sense.
I came to one conclusion very quickly... I can't answer it as @Coinsreporter wanted which was to:
enlighten this post with your perception of scarcity in terms of Bitcoin
So because of this I decided that it was best to write my own post rather than reply to @Coinsreporter and give my thoughts on scarcity.
In my short (nearly) 39 years living this human experience I have always been fascinated with people's need for things. I suppose that came from my apparent lack of when I was in my younger years. I watched in awe as the kids in school would swap football cards, play with their tamagotchi's or come to the playground with a headband that had their name written on it! Now I was a bit of a 'weird' kid and I never got jealous for not having those things, in fact I never even wanted them, however what I did want was to be part of the group and make friends. And that, for the weird kid was not on the cards for me. Of course, as I got older the things were different. When people were getting their first cars they were going for the latest model in this or that, their first house would seem to be decorated perfectly in line with the latest fashion, and their first babies would be dressed in the latest designer clothes.
Now maybe it's the way I was raised, but I have never felt the need to do all this. And, if you came round to my house you would see that I live in what appears to be scarcity. If a burglar came into my house, they would leave with an Xbox that belongs to my son and maybe the lawn mower which I leave outside! There is nothing really for them to steal! (I don't even own a TV).
I know though that I am a rarity here.
Where am I going with this - jeez I can ramble!
From what I can see, the world has been set up in a way now where the majority feel as though they are living in scarcity. We are being fear mongered into believing that this is the truth, and we are being hood winked into giving all our money to the rich, to get richer.
And, the worst thing is - we are well aware that this is what we are doing! They aren't even hiding it from us anymore and we are just allowing them to get away with it, because we have been taught that this is just how it is! "Those bloody 1%". Seriously, if I was handed a penny every time I heard that, I would be able to give the damn Xbox to the burglar!
Right now, with society allowing the few who appear to be in power to herd us like sheep, then I have to say that we are NOT set up for true scarcity because we have been led to believe that we are already there, when we are not!
The world has enough food to feed everyone in it - the problem is the distribution AND what we eat. The world has enough gold for us all to be well off and trade in whatever way we want to - the problem is the distribution. The world has enough water - the problem is the distribution AND pollution. The world has enough technology to create a safe planet without destroying it - it's about access. The world has enough knowledge to teach everyone who wants to learn - it's about access.
The world however also has mankind. The 99% who need to become aware that they have the ability to create their own lives and write their own stories and do not need to follow the 1% seemingly in power. If the 99% did that we may face scarcity for a while as the seemingly in power would fight back as hard as they could, but if we stood up to them and stopped allowing them to get away with things then they wouldn't hold that power.
Simply - we do not have a scarcity problem - we are told that we do and then tell ourselves that we do.
However, until people wake up and take back ownership of their own lives then people like me will still be the weird kid. And... if Bitcoin is going to allow me as someone who is awake to keep ownership of my life then I am all for it!
You're an active little duckling, ain't it?! 😃
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Why would you think that?🤪
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I keep seeing your nym passing by, that's good.
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I crave healthy, intellectual discussions... I feel as though I have found a place where I can get them! Great to see that my nym is getting seen! https://media1.tenor.com/m/qk01M-NxnisAAAAC/ducky-running.gif
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33 sats \ 1 reply \ @Fabs 7 May
Ha! You're killing it with that reply 🤣
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😂 😂 😂
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Really interesting perspective. I always thought that with the growing population we would have issues with food, etc., but I think that is not the case, as you say.
I was first made aware of this when I listened to a Saifedean podcast with Gale Pooley: Superabundance. Here is a short summary:
  • How resources on earth are not finite and the time is our real scarcity.
  • Time prices. Time price is expressed in hours and minutes. Money price is expressed in dollars and cents. Calculate time price by dividing the price in dollars with the hourly income. When the population increases by 1%, these commodities fall in price by 1%. This is because of innovation. Innovation is what allows us to escape poverty. If you want more innovation, you need to have more ideas, which means a larger population.
  • The Simon Abundance Index 2023
  • Abundance doesn't end. It is political decisions that limit growth and freedom.
  • Time prices
    • Go back in time and figure out what the time price was of goods and services and compare with today.
    • Inflation tells you how expensive things have gotten compared to other things. They don't tell you how affordable things have gotten. You have to look at hourly income to look at affordability.
    • Time is a universal standard, it's fixed and continuous
    • Move from thinking in income equality to time equality
    • Economics needs to be measured in time and knowledge not money.
    • Malthusian argument: we're going to run out of stuff.
    • Inflation leads people to believe there's scarcity, which there isn't. Compare it with time prices and you can see there isn't scarcity, but inflation.
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You have just inspired another post with this comment! What if I told you that time was also a man made concept and so time being a scarcity is also just a story?
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Great that I inspired you and I'm interested in your new post :-)
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Thanks for the mention.
While my version talks about the benifits of scarcity, Your version of scarcity totaly dismisses it.
If you ask me, I agree with the viewpoint that we don't have any scarcity. But what about the psyche that governs human beings and suggests that whatever is scarce is more valuable.
In fact the biggest wars of history have been fought for something that's scarce. It's natural for human beings to go after scarcity. It's also true in terms of feelings and your senses. Humans love scarcity, not abundance.
For example: just put a white pebble over the heap of black pebbles, and ask anyone what they want.... Even if one says that he can go away with black pebbles but the first thought that would cross his mind be about taking away the white pebble.
So, love for scarcity comes inbuilt in our genes and it's been so since ages, and humans actually love this. For me scarcity is my abundance.
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I see the world differently. I don't believe that something scarce is more valuable and I believe that most scarcity is created by humans through greed and the desire for power.
I agree that humans love scarcity although this is because they love abundance.
If something is scarce and we have it, then we hold a certain level of power - we feel special.
Take the white pebble - if you have it and your friends all have black ones, you feel slightly taller.
The love for scarcity comes from the feeling we get when we are in abundance - we create scarcity in order to strive for that feeling.
My issue is doing it at the expense of others. We shouldn't make others suffer in order to make ourselves feel better.
Personally, I create my own scarcity which leads me to abundance. Gratefulness, not 'things' creates this. The less I have, the more I see; the more I see, the more alive I feel. I don't feel abundance from 'things', I feel it through experience.
The person who truly chose the black pebble (and not through a sense of duty or unworthiness) understands this. They still get that feeling of abundance, from knowing that they gave the white pebble to someone else, seeing the joy in their eyes. They know that the white pebble doesn't hold more value than that of the black, even though there was only one of them.
The problem arises because you get a much quicker 'hit' from creating scarcity for others to create abundance for yourself. You don't need to put in any of the hard work that comes with being grateful, looking inwards or creating your own scarcity. It's much simpler to follow the herd of sheep and believe what we have been told to believe.
It relieves you of any responsibility too - 'I did it how they told me and it didn't work... it's their fault'.
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The problem arises because you get a much quicker 'hit' from creating scarcity for others to create abundance for yourself.
It's sad and a reality for sure but isn't it the human nature?
For the rest of your arguments, I feel that we are on the same boat. It's just that I'm talking about scarcity is inbuilt in human nature, and you're of the view that we can create it.
Personally, I create my own scarcity which leads me to abundance. This is as same as— Scarcity creates abundance by making things desirable. (My view)
I feel like we are doing the best team work on the topic of scarcity and abundance.
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It's sad and a reality for sure but isn't it the human nature?
Is it, or have we just been taught that reaching for the easiest/quickest option is the 'best' one?
I feel that we are on the same boat. It's just that I'm talking about scarcity is inbuilt in human nature, and you're of the view that we can create it.
The very reason that we create it, is because it is inbuilt. We need scarcity in order to have abundance, just like we need sadness in order to feel joy, and cold in order to feel warm.
My next comment is not aimed at you but at those who create abundance through creating scarcity for others...
It's lazy to say that we do these things because it is 'human nature'. In fact it is an excuse used in order to seemingly get away with treating people in an unkind way in order to get ahead and grab the white pebble.
We are on the same page, we are just using different wording.
I feel like we are doing the best team work on the topic of scarcity and abundance.
I agree! And thank you for taking the time to discuss it properly with me :)
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With all my beliefs I despise anyone who holds the view of creating scarcity for others just for getting ahead.
Creating own scarcity is legit while creating it for others is just shameful and heinous.
I am also grateful for everything you added and enlightened on this subject.
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I wholeheartedly agree!
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Every time I see your name on a post, I know I will have to sit down and just take a break to read what you wrote. Your perspective is interesting, if people werent so obsessed with material possessions. Do you remember during covid, the toilet paper runs? Wtf were people storing toilet paper? lol
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Ha... when I was writing this, one of the things that popped into my head was the toilet roll saga, along with pasta!
A story was created to make us believe that there would be a toilet roll shortage which in turn made people afraid that they would have nothing to wipe their butt! They flew down to the shops to get said toilet paper and bought more than they needed because it wasn't going to be there long. And then the story became true... because people stock plied it - not because there was ever a shortage! Do I agree with what they did - no. Was it genius - yep.
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The same thing happened with masks and chlorox wipes. I just dont understand people. There is enough for everyone if they arent greedy. It reminds me of that game/experiment played with kids. With the dollar bills in the middle, if they take turns they can have an infinite amount of money, but if they hurry and grab the bill, they will only get what they can take.
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I just dont understand people.
Maybe my answer to the comment above yours may help?
It reminds me of that game/experiment played with kids.
What did they choose?
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After the kids tried it a few times, they all took turns to take a dollar from the middle. In theory, they would have earned an infinite amount. Kids can be quick lol
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In my experience, kids are a lot wiser than adults!
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Most kids havent fully developed the greed and other factors yet.
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ooooh... a question for you!
Why do you think that is?
I'm going to attempt to take off my pedantic economist hat, because I think the essence of what you're getting at is correct.
The thing is, we don't need anyone's permission for this and there's no need for it to be a fight. A cultural shift away from material consumption would organically accomplish all of those things.
Prosperity comes from producing more than you consume. By encouraging the general public consume more than they produce, that prosperity transfers upward to the elites.
If people would be a little bit more introspective about what actually makes them happier, they could reduce their excess consumption, which would give them more of a cushion financially and reduce their sense of scarcity.
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I'm going to attempt to take off my pedantic economist hat, because I think the essence of what you're getting at is correct.
I am not an economist so I appreciate you taking that hat off to reply to me!
Prosperity comes from producing more than you consume. By encouraging the general public consume more than they produce, that prosperity transfers upward to the elites.
I agree with you, we don't need to fight although I don't think that the 'elite' would agree as they would feel as though they were 'losing'.
Prosperity transfers upwards to the elites within a capitalist society, however what would happen if it was distributed equally or at least fairly? Then comes the question of - who decides what is fair? It is a minefield of which some would say not possible to solve but I don't believe that (although I don't profess to have the answers - yet!)
If people would be a little bit more introspective about what actually makes them happier, they could reduce their excess consumption, which would give them more of a cushion financially and reduce their sense of scarcity.
This! However, we have been taught that the more we have, the happier we will be and the only way that we can have 'more' is to earn more, and the culture that we live in (although I am seeing a shift) earning more, means working more which means disconnecting from their loved ones for most of the week.
How do we shift this mentality? Saying that... do we need to? Or, is it already happening? Are the gen z's and the alpha's going to manage to shake everything up and transform our way of being, or, will they be brought to their knees?
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Prosperity transfers upwards to the elites within a human society. It is not about capitalism. A large share of those transfers are due to state protections, which are antithetical to capitalism.
The only concept of fairness that is consistent with a free society, is that people get what is voluntarily given to them by others or what they produce themselves. The margin to work on, then, is persuading people to freely help those who need it.
I'm not sure what to make of the Zoomers, yet. Their trends are all over the map. I'm hopeful that they will at least be the generation that learns some important lessons and passes those on.
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If I told you that you managed to get me to shut my laptop and say... "No more" yesterday! My brain was that fuzzy from using it that by the time you commented I didn't have any working cells left to compose an answer!
And now as I am looking at your reply... I got buuuuuurned! I know when to admit a mistake and putting capitalism into the same category as "state protections" was, well, a bit silly on my part 😂
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It's an understandable error. This system is a perverted form of capitalism and it is incredibly efficient at making that upward wealth transfer.
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