What Bitcoin and BTCMobick have in common.
Why BTCMobick is currency, not a product
Nov 25, 2024
Bitcoin and BTCMobick: The Same Currency Phenomenon
When it comes to digital assets, Bitcoin and BTCMobick share an intriguing foundation. Both represent a new kind of currency phenomenon where the very act of acquiring them embodies the idea of sunk costs. Let’s explore what makes these two cryptocurrencies fundamentally similar, setting the stage for a deeper dive into their differences in our next post.
The Cost of Earning: A Shared Sunk Cost Principle
Currency, in any form, often involves a sunk cost—the resources you expend to obtain it. Bitcoin mining epitomizes this idea. Miners must invest in expensive hardware, pay for electricity, and understand complex systems to secure their share of Bitcoin. This process isn’t just about mining Bitcoin; it’s about proving the effort and value invested to acquire it.
BTCMobick, while different in its acquisition method, follows the same principle. Instead of engineering power, Mobickers pay in time, opportunity costs, and effort. To claim BTCMobick, enthusiasts climb mountains, purchase plane tickets, and often take days off work. Their journey to obtain BTCMobick requires both personal sacrifice and dedication.
Even renowned economist Milton Friedman touched on this concept, referencing the Yap Island stone currency. These large stones weren’t moved but held value because of the effort it took to obtain them. Similarly, both Bitcoin and BTCMobick derive part of their value from the sunk costs required to acquire them.
The Shared Cryptographic Backbone
Another key similarity lies in their cryptographic foundation. BTCMobick is a fork of Bitcoin, meaning it inherits the same robust blockchain architecture. This shared system ensures compatibility, particularly for Layer 2 solutions like ordinals. BTCMobick’s interoperability is a significant advantage, with BetweenBits—a BTCMobick-based company—working to expand these capabilities.
Limited Supply: Scarcity as a Core Feature
Both Bitcoin and BTCMobick also share the principle of limited supply. Bitcoin’s 21 million coin cap is well known, but BTCMobick follows a similar ethos. While its total supply isn’t exactly 21 million, it’s also permanently restricted by code. This scarcity is fundamental to both cryptocurrencies’ appeal, fostering trust and preventing inflationary risks.
Looking Ahead
Today, we’ve covered what Bitcoin and BTCMobick have in common, from sunk costs to cryptographic roots and their shared emphasis on scarcity. These similarities highlight why BTCMobick can be considered a currency alongside Bitcoin.
In our next post, we’ll delve into the differences between these two digital currencies—and why those differences are critical to understanding BTCMobick’s unique value in the crypto ecosystem. Stay tuned!
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