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Re:Bitcoin Halving Just Occured by legolas2412 on Monday May 11, 2020 @06:59PM (#23148229)
Forced to sell at a higher price?

My dreams of being a millionaire are forcing me to sell this orange for a million dollars. Ergo, oranges will now retail for a million dollars.

Re:Bitcoin Halving Just Occured by nannal on Tuesday May 12, 2020 @02:36AM (#23151110)
That's a terrible analogy. Orange supply could be infinite should we maximize orange production, this is not how Bitcoin works.

If there were only 12 oranges produced on all the trees in the world every hour & it cost $500 an hour to operate your orange farm. You therefore have to sell your oranges for at least $42 to cover costs and make a small income

However now there are only 6 oranges produced every hour (not 12), what can you do to maintain profitability?

Re:Bitcoin Halving Just Occured by legolas2412 on Tuesday May 12, 2020 @06:11AM (#23152365)
And if people don't value your oranges that much, you close shop. It is not going to make the people suddenly value your oranges more.
Re:Bitcoin Halving Just Occured by jkhdigital on Monday May 11, 2020 @08:19PM (#23149126)
Except that oranges are consumption goods and can be produced in whatever quantity is demanded by expanding production.

Bitcoin production is perfectly inelastic, and Bitcoin itself has no consumption value. You need a different analogy.