Matthew Campbell
Sep 7, 2018 · 1 min read

I don’t think this is a very complete argument and I think you’re sweeping a lot of assumptions under the rug.

If there were 210mm bitcoins in circulation instead of 21mm (ignoring that ‘in circulation’ is distinct from ‘total issued’ for the moment), then each BTC would be worth ~$640 instead of $6400. Does that make bitcoins “easy money”?

The amount of a type of money floating around does not make it more or less desirable — desirability is dictated by other factors and properties like appreciation expectations, stability expectations, inflation expectations, etc. Those things impact demand, but you have conflated “amount in circulation” with desirability because usually when e.g. Venezuela is printing lots of Bolivars the value of Bolivars is also falling for other economic and market driven reasons (they’re borrowing too much and cannot repay, etc.).

    Matthew Campbell

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    bitcoin software dev. start here: https://bitcoin.org/bitcoin.pdf