As the “omicron” crypto token soars in value following news of the COVID variant, it is yet another example of how cryptocurrencies create artificial scarcity (Matt Levine/Bloomberg)

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Matt Levine / Bloomberg:
As the “omicron” crypto token soars in value following news of the COVID variant, it is yet another example of how cryptocurrencies create artificial scarcity  —  Also ghost kitchens, call spreads and RugSeekers.  —  Omicron  —  The basic innovation of crypto is the production of artificial scarcity.

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