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A comment on Ask HN: Why is the crypto booming again?. Parent comment

Re:Ask HN: Why is the crypto booming again? by lowkey on Friday March 08, 2024 @10:59PM (#39649278)
Adding some detail to your points 1 and 2, the ETFs are currently buying up over 12,000 coins per day and growing. The miners are producing 900 coins per day which will fall to 450 coins per day in 40 days due to the halving.

Demand is outpacing supply by 12 to 1 at the current pace and all signs point to further tightening as demand continues to grow and supply remains programmatically fixed and soon to fall by half.

The world has never before experienced an asset with perfectly inelastic supply and exponentially growing demand.

It is the perfect storm.

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Re:Ask HN: Why is the crypto booming again? by ur-whale on Saturday March 09, 2024 @03:03PM (#39654324)
> The world has never before experienced an asset with perfectly inelastic supply and exponentially growing demand.

Fully agree, and a point that most folks who shout "no intrinsic value" on the rooftops, completely fail to understand.

Furthermore, no economic theories exists to this day (that I know of) that can get a handle on this kind of asset class and predict its future behavior and impact on society.

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