Veblen Goods

Max Keiser Inspired

#Bitcoin could be perceived as a Veblen good - which may turn out to be another vital aspect of Satoshi’s Game Theory design. As example the super wealthy may start buying BItcoin as a status symbol, once we surpass the all time high on route to even higher values.

From Investopedia:
What is a Veblen Good?
A veblen good is a good for which demand increases as the price increases, because of its exclusive nature and appeal as a status symbol. A Veblen good has an upward-sloping demand curve, which runs counter to the typical downward-sloping curve. However, a Veblen good is generally a high-quality, coveted product, in contrast to a Giffen good, which is an inferior product that does not have easily available substitutes.

Source: https://www.investopedia.com/terms/v/veblen-good.asp

.
.
.

---

‪‬
Good Health – Evan Pantazi
#Kyusho

Image Credits: econgood