#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.
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Replying to @maxkeiser @P_Hold
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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Replying to @NickSzabo4 @MattyIceN and
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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Replying to @KoenSwinkels @MattyIceN and
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.
1 reply 1 retweet 5 likes
The room is dark and the effect is like thousands of stars twinkling at night.
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