Part 7/17:
He points out that each network fork (like Bitcoin Cash or Bitcoin SV) effectively creates more coins, reducing true scarcity and revealing that there is no ultimate limit—contradicting claims that Bitcoin is the first "digitally scarce asset." The ongoing forking and creation of new coins show that scarcity is a perception, manipulated by market psychology and technological choices.
He argues that the real value of Bitcoin is rooted in its proof-of-work security mechanism—an energy-intensive process that demonstrates genuine labor, akin to "sweat equity." This work makes the system trustworthy because it is based on physical reality and mathematical certainty, not mere fiat or reputation.