Alex I agree with everything you’ve written, all valuable stuff, whilst Bitcoin is still in production, the only thing actually giving it value is the work done to produce it, and that works just fine in the closed, zero-sum, controlled scarcity economy we’ve used to date.

But what about afterwards, when it is no longer being produced?

What effect will all of the free solar power which suddenly comes online, when there are no more bitcoin to produce, have, on the economy, if it is still closed and zero-sum by then, and therefore upon the usefulness of Bitcoin itself?

As I see it, the sudden injection of sun driven free wealth into the economy, then, if it doesn’t happen before, will defeat all illusions of the value of scarcity.

Did you notice how the values of gold, Bitcoin, and oil, all plunged, at the instant of massive stimulus, whilst bankrupt company shares, and dollar values leapt?

What we saw was a glimpse of the future, free money.

Free money is directly interchangeable with energy, like the energy of the sun which is free, unlike any item of scarcity.

Therefore the investment values of all things scarce will tend towards zero, including Bitcoin.

The only currency of value remaining after that, will be currency which is directly interchangeable with live energy, which comes free from the sun.

That is why Bitcoin might well be the cleverest ever beartrap.

Not long now until we find out…