wavespace on Nostr: You're correct - fundamentally Bitcoin is derived from energy in a rather ...
You're correct - fundamentally Bitcoin is derived from energy in a rather straightforward system compared to other convoluted and inefficient constructs humanity has had. However, wouldn't you agree that Bitcoin's value has a social component to it that goes beyond it's pure energy value?
Bitcoin is currently priced in what society agrees to be the most common denominator to reach the maximum understanding, but it's inevitable that Bitcoin will naturally become the unit of account itself at some point.
Maybe I'm missing something, but I don't fully understand why it's bad for society to have such abstraction as satoshis to be de facto "value" denominator, especially if going one level "deeper" into joules does not encompass the full value society assigns to it? In other words, Bitcoin will always buy more energy than it costs to make it.
Bitcoin is currently priced in what society agrees to be the most common denominator to reach the maximum understanding, but it's inevitable that Bitcoin will naturally become the unit of account itself at some point.
Maybe I'm missing something, but I don't fully understand why it's bad for society to have such abstraction as satoshis to be de facto "value" denominator, especially if going one level "deeper" into joules does not encompass the full value society assigns to it? In other words, Bitcoin will always buy more energy than it costs to make it.