The Fallacy of Selfish Mining in Bitcoin: A Mathematical Critique

Money gains value through use. As a limited quantity of money chases a set value of wealth, we see the price increase linearly with the velocity of the system. The more use, the higher the price. Likewise, as use cases are limited we can expect a decline in price. This effect can be coupled together with scarcity. Bitcoin is a scarce economic good. Its value is retained from its use factor which as a settlement layer alone is severely limited.

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