Buying What Can’t Be $old
The Secret of Crypto Scarcity
Understanding the value of an asset goes beyond its current price or market hype. The core principle lies in its scarcity. As the renowned economist Thomas Sowell once said:
The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.
If you’re new to cryptocurrencies, this idea forms the bedrock of digital asset valuation. In the following sections, we’ll explore why this lesson is pivotal in cryptocurrencies, starting with the prime example of Bitcoin.
The Importance of Scarcity
The idea of a limited supply is well-known in the world of investment. However, it takes on even greater importance within the crypto community. Take Bitcoin as an example, which has a cap of 21 million coins. In the world of assets, less often means more. Fewer coins on the market amplify demand, thereby boosting the coin’s value consistently. But what is precisely the logic behind it?
There are over 8 billion people on Earth. So, if everyone wants to own a Bitcoin, it’s simply impossible. Then you may ask, “Okay, but why would someone REALLY want to own a Bitcoin?” This is the tricky question. Bitcoin serves to protect against inflation; that’s its only purpose — or, as the crypto community would say, its only “use case.”
There are over 1.8 million crypto assets listed on CoinMarketCap. If you have enough time, you could read the whitepapers and tokenomics of each to discover a unique crypto, that is truly deflationary — meaning its supply will decrease in the coming years compared to today.
Simply put, a deflationary asset becomes more valuable over time as its supply decreases.
Intrigued? You should be!
The Skuld Hard Fork?
In blockchain technology, hard forks are pivotal moments that signify major software updates, introducing new features and improvements.
Unlike the millions of tokens that rely on existing blockchains, Callisto Network has its own blockchain, much like Bitcoin. With the imminent launch of the Skuld Hard Fork, named after the Norse goddess who signifies the future, this update aims to make the Callisto Network Blockchain faster, more efficient, and ultra-secure.
One of its standout features is a coin-burning mechanism. In simple terms, every time a transaction happens on Callisto Network, a small portion of the CLO coins used for transaction fees will be permanently removed from circulation. This gradual reduction in supply makes the remaining CLO coins more valuable over time.
Hold on to your seats! With the Skuld Hard Fork, Callisto Network is shaking the very foundations of crypto-economics. Skuld is the foundation for future monumental changes like Proof of Stake and Z-consensus. Think of it as a milestone in Callisto Network’s roadmap, aimed at handling up to 100,000 transactions per second in the future.
Implications for Current and Potential CLO Holders
This is big! For the first time in crypto history, we’ll see a currency — Callisto Network’s CLO — whose current circulating supply will be reduced below its max supply. A reduced supply can create deflationary pressure, making each CLO coin more valuable. So, if you’re holding CLO, you essentially hold a future rare asset.
You’re familiar with Bitcoin, right? Its total supply is around 19,468,162 BTC, marching towards a max supply of 21,000,000 BTC. Bitcoin will keep minting coins until the year 2140, increasing its supply by about 7.86%.
In contrast, 3,104,773,221 CLO coins have already been mined, and post-Skuld, it will be reduced and maintained to 3 billion flat!
Why Is This Epic?
- Deflationary Pressure: A reduced supply can create deflationary pressure, making each CLO coin more valuable. If you’re holding CLO, you’re holding a future rarity!
- Competitive Edge: With lower transaction costs and rapid block times, dApps on Callisto Network become faster and cheaper, attracting even more users and, in turn, increasing the demand for CLO.
The Future is Skuld; the Future is Now!
To paraphrase a well-known superhero: With great technology comes great investment potential. Skuld is not just another hard fork; it’s the backbone for upcoming monumental changes like Proof of Stake and Z-consensus.
I’m not saying Skuld will make you a crypto millionaire overnight, but if you’re looking for a blockchain project that truly stands out, you’ve just found it.
Why Trust Callisto Network?
Finding a project that has stood the test of time in the ever-volatile cryptocurrency market is a miracle. Callisto Network was born from the Ethereum Classic community, with its founder being the co-founder of Ethereum Classic and an active developer of Ethereum. Since then, Callisto Network has survived and prospered for over five years. Five years in a world full of uncertainty — often compared to the Wild West — is a significant achievement.
What’s more? It has weathered not one but two bear markets, proving its resilience and adaptability.
But what really sets Callisto Network apart is its unparalleled emphasis on security. With over 330 contributions to the blockchain space and the development of revolutionizing standards such as ERC 223, this is not a project that simply uses security as a buzzword. Safety is the very essence of Callisto Network.
Equally remarkable is the project’s commitment to decentralization and transparency. Callisto Network was born without ICOs or pre-mine, and the team controls less than 1% of the circulating supply. This speaks volumes about its commitment to empowering the community through real-time updates and transparency.
Now or Never
Scarcity drives demand, and demand boosts value. It’s the very reason Bitcoin has been on an upward trajectory despite the bear markets and fluctuations. Callisto Network offers a unique proposition with its planned supply reduction, making CLO a rarity in the crypto market.
Take note: the current price of CLO is now close to its value of 3 years ago. The bear market has been brutal, wiping out profits and knocking out the crypto community. If you hop over to the Callisto Network Telegram channel, you’ll see that even the most fervent supporters feel the pain.
It’s probably the moment to remember this quote from the great Baron Rothschild:
Now could be your golden moment. Many of us regret not buying Bitcoin at $100. It’s okay because we didn’t know then, but now that you heard about CLO, do you want to blame yourself years from now for not having bought it at less than $0.001?
It’s not just about short-term gains; it’s about being part of a blockchain evolution reshaping the world we know. It’s time to act!
Callisto Network (CLO) is available on Gate.io, 1inch, and SOY Finance (DeFi).
Disclaimer: This article is a contribution from a member of the Callisto Network community. The views and opinions expressed in this piece are those of the author and do not necessarily reflect the official policy or position of Callisto Network.
This piece symbolizes our collective strength, resilience, and unwavering belief in our mission to make the crypto space safer.
Together, we are stronger!
