a source familiar with the matter on Nostr: No I don't agree to that at all. If I'm lying on the river bank catching fish and a ...
No I don't agree to that at all.
If I'm lying on the river bank catching fish and a gold nugget happens to wash into my pocket it's no more or less money than an equivalent gold nugget mined from an asteroid.
Bitcoiners often default to a labor theory of value or energy theory of value, both of which are absurd. Value is subjective (meaning it relates to the subject, not that I just make up whatever I want). I value an additional unit of a good equivalent to the highest-valued new use to which I can put that good.
If I'm lying on the river bank catching fish and a gold nugget happens to wash into my pocket it's no more or less money than an equivalent gold nugget mined from an asteroid.
Bitcoiners often default to a labor theory of value or energy theory of value, both of which are absurd. Value is subjective (meaning it relates to the subject, not that I just make up whatever I want). I value an additional unit of a good equivalent to the highest-valued new use to which I can put that good.