Care to give an example?
NFTs
Supply irrelevant, infinitely producable
Demand - High(at one point) Very relevant
But the supply is not irrelevant, itâs the appeal. You donât buy an NFT because itâs replicable. NFTs are literally not replicable. You can mint as many as you want but never after the fact. Itâs not like a printing press. Itâs like stocks in a company. The more stocks you have the less valuable each one is individually. Pretty sure that is the principal of inflation, keep printing more money till itâs so divided that each one is next to meaningless on their own.
Gonna fully admit, I am out of my league here. I am not into NFTs, the blockchain, or cryptocurrency as a whole. This is from my very limited understanding of it and economics. I definitely donât know their history or their downfall but I can theorize it fell apart as people seen it for what it was; worthless.
I donât have a whole lot more to say side from the fact that no their supply is not irrelevant because that is literally the reason people buy them. That is what gave them their high demand. No one was going to buy one if it had a near infinite supply. Sure you could keep making more but you can keep making different an new pieces of art too. Doesnât change the value of the existing ones. Except the difference was that NFTs are pretty much entirely digital and owning one is essentially worthless. When people realized that the demand dropped. There is no reason to own one. You can own art because you, you know, actually own it. If it were to get stolen you could report a theft. If someone CTRL + Câs your NFT there isnât much you can do since you technically still own and are in possession of it, just now someone basically replicated it. It was this realization that drove itâs value down, no matter how much they were bought or sold for. That is still technically their value but without anyone putting money into them from the outside they will essentially just be valueless.
So yeah NFTs have a supply, technically, and that was what was sold to appeal to people. You can own this one of a kind picture of a monkey, no one else owns it. But they didnât realize how useless that meant when others could just find it on google and set it as their pfp without any trouble. After that realization the demand died down and still continues to die down.
You are only using the production price on release, but through release to 1912, there were only about 135,000 models produced and at an average of $21,000 (rounded up.)
From 1912-1927, there were 14,556,178 Model Tâs produced, at an average cost of $6,000 (rounded down)
You can go even further and look at the prices from 1919-1926, where 2/3 of total Ford Tâs were produced. Average price would be $5,500.
this means that less than 1% of total Ford T cars were produced at the time it was priced at an average of $21,000. 99% of Ford T cars were produced at the average price of 6k.
This means that the comparison used should be $6,000 (already adjusted to inflation.) Every single Ford T you showed on there is is at the least 2x the price it was back during 1912-1927 where 99% of Ford Tâs were produced.
This is also including for all the damage and miles and whatever else happened to the cars you showed there, even though i was never including it in my original argument because including factors to one time but not the other is not a fair comparision:
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thats why i used a WoJ which is the most useful boss item in the game and one of the most useful items in the game.
thats why i said:
My fault, my bad. Did not give this as thorough of an examination as I should have.
In hindsight, considering I was thinking about this far more after I finished my car portion of my reply, Iâm pretty much in agreeance with you. A fresh out of production car from the 1920âs sold today would be worth more than it was if it was sold in 1920. I think and know now that that is rather obvious. Did my weak level research first before coming to that conclusion so yeah no chance in hell that was right.
But I will disagree on you with this.
To determine a price there is no agreeing between people, at most the seller and buyer but thatâs about it and even thatâs hardly an agreement. The seller sets a price and the customer chooses to buy it or not. If they buy it thatâs the value of the car, if not then itâs not. Prices arenât set by people generally agreeing upon them, no, those are just the prices companies ask for that we are willing to accept. The price of gas would be much lower if it were like this. The only people who determine the price are the ones who actually sell it.
Before that announcement, I made an offer to sell 4th of july seasonals for boss drops and big traders laughed at me and also wouldnât take the offer. I wish that wouldâve been enough to discourage me 
Youâve clearly not heard of multifunctional fractionalized NFTS
i.e. Multiple people can own the same NFT making it essentially infinitely replicable
Itâs entirely the current ownerâs choice to fractionalize and spread quite literally an infinite supply
I do know there are NFTs that can there can be multiple of but they cannot be subdivided after being minted/created. You can create x10 pictures of something but no more and cannot destroy them. Now if you can make an infinite amount of them continuously then no one would buy them as it would make them worthless. If anyone did then they mustâve been convinced, by someone or themselves, that there was a limited quantity.
yeah I agree im wrong there for sure
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You actually can using ERC1155 which is the predominant form of minting NFTs rn and is known as the multitoken standard.
You can repeatedly mint the same NFT
Also read up about Veblen goods (An NFT is a Veblen good)
A proper model of economics would include opportunity cost which is called deductive law of demand(Considers all nuance)
I donât know what NFTs are, but this is not sound reasoning. If youâre calculating something, and your answer wouldnât change significantly whether you included a certain part or not, then you can say thatâs negligible, but that wouldnât be the case with supply here, unless 1. the NFT market is monopolistic 2. Profit is maximized by selling at the maximum price that anyone would be willing to pay, or very close to that. Short of that, I canât think of any situation in which changing the supply couldnât result in a very different price, assuming that you donât count situations in which nothing is bought or sold, except maybe if the range of possible prices that people would be willing to buy at was so narrow that you wouldnât care which of those prices was the real one that the product gets sold for.
what an nft is is basically, a picture, but you can buy the url and it then says you own that url to the image
thatâs it, the only reason itâs expensive is because idiots think that just because thereâs only one of it, it must be valuable (snipping tool:)
Google it if you donât know it, thatâs the best part about the internet
The idea that some mf might actually make a blank nft card and call it âheadless nftâ and somehow profit gives me sadness
do people make the picture in order to sell the url?
they can make it out of literally anything
you also donât really own the picture, just the url that says you do
so could another person come by and use the same picture to make an identical NFT?
Now Iâve looked around a bit and I have not seen anything saying they can straight up copy and create NFTs. NFTs by their very nature are uncopiable.
Granted I didnât dig too deep now. What ERC 1155 can do is that it can basically turn NFTs into a hydra. It doesnât create copies of the NFT but it separates the NFT into subsections that combined are the NFT itself.
Itâs literally just like a company dividing itâs stocks further down. It doesnât add value, it just divides itâs value among the stocks. You canât just copy NFTs like a printing press and sell the copies. That is literally what NFTs are incapable of. That is what makes them a non-fungible token. They canât be copied. Instead it is divided. So instead of one png being your NFT itâs actually 10 photos that are all collectively one NFT. Thatâs the service this provides.
Again this is very surface level knowledge but I would never expect something thatâs sold on itâs uniqueness to be CTRL + Câd this easily.