“Bitcoin will measure prices falling to their marginal cost of production over time. Prices of everything will fall against it. While in fiat terms, prices of most things will rise. Your view of the world depends on what you use to measure it.”— Jeff Booth

Bitcoin, with its fixed supply cap of 21 million coins, is often described as “hard money” because it cannot be arbitrarily inflated like fiat currencies. Over time, as the supply issuance slows down through halving events, Bitcoin’s value tends to increase if demand stays constant or grows, leading to what Booth describes as measuring prices. Falling Prices to Marginal Cost of Production


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