Is Mobick a miracle, a scam, or science? #1
*This article was written by Taemin Oh, the founder of BTCMobick.
Bitcoin indeed has a price; however, it fluctuates, lacking a solid foundation. This unpredictability deters many from embracing Bitcoin with an open heart. Economists and those with common sense regard this phenomenon as a collective illusion that cannot be sustained. Their reasoning is quite rational.
They pose this question: "If a 'digital form of numbers,' unsupported by government issuance, corporate responsibility, or ties to valuable assets or services, can possess a price tag, isn't it possible that anyone can create value out of thin air?" Consequently, it's natural for them to grapple with internal conflicts before accepting Bitcoin, engaging in a process of logical struggle.
While one can argue that Bitcoin serves geopolitical purposes and can act as collateral in the metaverse, such explanations are ancillary. Ultimately, without addressing the phenomenon itself, where a 'digital form of numbers' devoid of guarantees accrues value, their reasoning risks becoming a futile exercise, akin to a snake chasing its own tail.
While Bitcoin represents a digital form of numbers, it is not infinitely replicable, a crucial premise in overcoming logical obstacles. Building upon this premise, we can surmount the formidable wall of common sense with a brief logical leap. The ensuing possibility may be probabilistic, but logically, it's a concise step.
At some point, somewhere, by chance, an event occurs wherein someone or a group decides earnestly to take ownership of some of these numbers. These individuals or groups need not be particularly intelligent or rational. Without altering the proposition that "humans are rational," we can acknowledge the statistical reality of peculiar outliers. In the human world, there invariably exists someone, driven by perverse desires, seeking to own Bitcoin. The key is that such coincidences occur.
Initially, those aspiring to own Bitcoin can effortlessly secure a substantial quantity with minimal effort. However, over time, they realize that maintaining the same quantity requires increased effort, or, if they invest the same effort, they obtain a diminished share. Understanding the rationale behind this is pivotal. As they strive for a larger portion, the electronic number becomes progressively elusive. Typically, when participants become cognizant of this vicious cycle, the entire scheme begins to unravel.
People come to the realization that their desires are causing torment, and the object of their desires is futile. Consequently, the clock starts to rewind. When many individuals with common sense predict that Bitcoin will plummet to zero, they elucidate this elementary logic in various ways. Nevertheless, Bitcoin's clock remains unreversed. The technology and design underpinning Bitcoin play significant roles, with decentralization, transparency, the mining system, halving, and scarcity ensuring this. Everyone understands that Bitcoin's program code governing issuance cannot be altered.
However, these technical attributes are auxiliary in explaining this phenomenon. To elucidate how random events evolved into rational phenomena, insights from the humanities are requisite. These insights shed light on how subjective occurrences in individuals' minds can manifest as objective phenomena.
1 It defies common sense that Bitcoin possesses a price.
2 To elucidate this phenomenon, one must presuppose that Bitcoin, a digital number, is finite.
3 A modest logical leap is necessary to suggest that random events can lead certain individuals to earnestly desire Bitcoin ownership.
4 These individuals gradually come to realize that obtaining Bitcoin becomes increasingly challenging as they persist in their pursuit, and this suffering results from their own misguided desires.
5 Despite this realization, Bitcoin does not alter its trajectory. The technical characteristics and properties of the blockchain play a role, yet they serve as necessary conditions rather than sufficient ones to explain why the course remains unaltered.
6 If this holds true, it implies that Bitcoin's growth followed a rational path subsequent to an initial random event.
7 If this assertion is accurate, then the Bitcoin phenomenon is scientifically reproducible.
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