this post was submitted on 04 Dec 2023
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Microblog Memes

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[–] alienanimals@lemmy.world 32 points 2 years ago* (last edited 2 years ago) (1 children)
[–] eskimofry@lemmy.world -5 points 2 years ago (3 children)

what's funny is it will crash if nobody buys it.

[–] alienanimals@lemmy.world 15 points 2 years ago (2 children)

What’s funny is you just discovered how supply/demand works. It applies to literally everything you can buy.

[–] eskimofry@lemmy.world 1 points 2 years ago

Kind of a smarty pants reply considering i know elastic vs. Inelastic demand is an exception to this rule.

[–] DragonTypeWyvern@literature.cafe -3 points 2 years ago (2 children)

Not really, no.

Because the things I buy have use.

For example, a gun.

[–] misophist@lemmy.world 5 points 2 years ago
[–] SuckMyWang@lemmy.world -1 points 2 years ago* (last edited 2 years ago) (1 children)

If I had 10 bitcoin I could use it to have someone steal your gun. I wouldn’t but you get the point. Or even better I could buy it off you for half a bitcoin

[–] DragonTypeWyvern@literature.cafe 4 points 2 years ago* (last edited 2 years ago) (2 children)

I hope this is a shitpost because you can say the same thing about any currency.

Or guns. Surprising number of folks that will take guns in trade.

Also...

How much do you think a gun costs?

[–] HelloHotel@lemm.ee 0 points 2 years ago
[–] Da_Boom@iusearchlinux.fyi 5 points 2 years ago* (last edited 2 years ago) (1 children)

No, it won't even go up if nobody buys it. It will instead stay the same value it currently sits at

It will crash if everyone who still has some tries to sell it.

[–] eskimofry@lemmy.world 1 points 2 years ago

If nobody buys it for long periods of time people will see the hump and freakout and this will trigger the firesale. I am sure this happens for at least SOME products.