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RE: Digital Abundance is Scarcely Valuable

in LeoFinancelast year

I suspect there would be holo-addicts, but I doubt it would be widespread. People were paranoid about the internet, VR, TV, and who knows how many prior technologies, too. It will be misused and abused by some, but a powerful tool for otehrs. Imagine how it could help with therapy, virtual design, and recreation.

And that easy conflation is a problem of language, and perhaps English in particular. Value is a subjective opinion held by the one evaluating, while price is an offer to exchange. When an exchange occurs, it indicates both parties valued the exchange more than the status quo.

When supply is artificially restricted, we typically have the additional corrupting influence of coercive force added to the equation, and that skews the market dramatically. The DeBeers diamond cartel appears on the surface to be an example of artificial scarcity by a market actor, but the diamond trade is at least as much a matter of corporate privilege and historical colonial mercantilism.