Nate
@eatsleepcrypto
Scarcity doesn’t create value, utility does
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wake
@wake.eth
Not alone it doesn't.
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Nate
@eatsleepcrypto
It actually does The market cap of a token with infinite supply remains unchanged if that supply becomes bounded Each of those tokens command a non-zero price, unless the token is a utility token (1 token = 1 action in the protocol)
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Nate
@eatsleepcrypto
This assumes the token captures value in the first place, which may be your point I distinguish value creation (protocol utility) and value capture, which requires token utility If you mean that protocol utility is not sufficient to make a token valuable, then we agree
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