#Bitcoin could be perceived as a Veblen good - and this might turn out to be yet another aspect of Satoshi’s subversive Game Theory design baked into the protocol. Ie, the super wealthy might start buying BTC as a status symbol, particularly when price cracks $1,000,000.
Traditional collectibles, e.g. shell jewelry & Rai stones, behaved like Veblen goods. In the archaeological record, up to a certain limit they became *more* commonly used the further they were shipped from their source. Chinese used cowrie shells from the Red Sea.pic.twitter.com/i872X1byf3
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“Shelling Out”part 2 ... its time . You should visit the shell museum on Sanibel/Captiva Island in SWFL they have some fascinating exhibits on shell money
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The Museum of Gold in Bogota may also be of interest to you. Not as in: Oh, you should travel to Colombia to see this museum* but as in: If you're already in Colombia, or at least in Bogota, the museum is well worth seeing *tho there are many sufficient reasons to visit Colombia
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Been there! My favorite room was where they had thousands of pieces of smaller, more mundane jewelry, the kind that is usually far more numerous & probably more important than the unique treasures museums display, but usually stays in private collections or museum basements.
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The room is dark and the effect is like thousands of stars twinkling at night.
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Canadian currency 1 million Canadian dollars, weighing 100 kg, and 99, 9 percent consisting of pure gold coins is considered the largest in the world until 2011.pic.twitter.com/bRcq0pUtOg
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Do you think that in the future we will venerate a pendrive or a Qr code that we can scan with our smartphones and see in the blockchain the amount stored?
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We already do. Many addresses of special significance on Bitcoin's blockchain are looked at with awe. eg Genesis block, Satoshi's addresses.
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Beach front property, rare cars, tigers - a Veblen good that can still be part purchased or owned by the average person would be an an incredible driving force in the adoption of Bitcoin over the next few years. I’m sure main stream media would suddenly take interest. Brilliant.
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Ya... But just try making change: "That'll be 1.5 shells ma'am".
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