Like a lot of people right now, I want to understand what is the long-term value of Bitcoin — if there is any at all. Bitcoin is obviously a bubble, right? But how can I be sure? This essay is my attempt to prove that.Supply and Demand: The price of breadThis whole section is to get warmed up on basic supply / demand mechanics. Feel free to skip if you’re comfortable with that.Let’s start with the first economic principle of them all: In a competitive market, prices of a good move to the poin...