Degen

Caught a fairly recent interview with Charlie Munger where he said he’s against Bitcoin because he doesn’t believe in its scarcity. He argued that unlike gold, if there’s enough incentive, someone will figure out how to make more of it.

Thought that was an interesting take.

Hope everyone has a great holiday weekend!

You could say the same about gold — whenever new deposits are found or extraction technology improves, the supply increases. Scarcity isn't always fixed, even for gold.​

Take a look at the recent discovery in China: a "supergiant" gold deposit estimated at 1,000 metric tons, valued at over $83 billion. This find in Pingjiang County, Hunan Province, could surpass South Africa's South Deep mine in size and value.

Such discoveries highlight how perceptions of scarcity can change with new findings.​

Farcaster OG | FID: 10174 | @fireflyapp Ambassador | /bnfarcaster 🎙 in Spanish  | https://web3.bio/cryptowenmoon.eth