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This is why bitcoin’s inelastic supply is so different (Reddit Bitcoin)

There’s a flurry of activity happening in Wyoming due to the historic high in uranium prices. According to this article (linked below)

Uranium prices have exploded by 165% over the last year, and 15% just in the last week, which has caused a new rush for Wyoming Uranium miners to cash in. New uranium mines are opening up and expanding.


Over the past year, a buildup of a strategic uranium reserve by the federal government, possible legislation banning uranium purchases from Russia (which is being held up in the U.S. Senate by Ted Cruz, a Republican from Texas), supply disruptions this month out of Kazakhstan and a coup in Niger halting exports have turned the spotlight on the United States – particularly Wyoming’s golden uranium reserves.

So as we see, uranium – like every other commodity – responds to both price pressures as well as geopolitical events with changes in supply. More demand, higher price, more supply till the price reaches a new equilibrium. The classic elastic supply scenario.

Bitcoin has an inelastic supply. No matter who does what, the coins are issued on the same schedule, block by block. The supply cannot be increased nor can it be sped up.

The upcoming halving will be the first time in the history of our species where an inelastic supply of a commodity will meet an asset harder than gold. Anyone who tries to use old squiggly lines to predict what happens next is using an abacus to design a fighter jet. They are hopelessly outdated.

submitted by /u/PepeDeCorozal
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