Monkey Pox Denier on Nostr: The labour theory of value suggests, that something has value corresponding to the ...
The labour theory of value suggests, that something has value corresponding to the amount of energy (work) used to produce it.
Of course thats complete bullshit, only fans is the quickest example to debunk that crappy theory.
NOTHING becomes more or less valuable just by using more or less work (energy).
You don't even know how blocks are mined - was it done on a Pentium5 or a C64 or an Asic?
The energy for BTC is SOLELY there to PROTECT it.
It's the amount of PROTECTION.
Everybody decides for himself, how much value that protection and scsrcity has.
A person with no water in the desert will value any drop of water higher than any amount of BTC.
There is no "intrinsic" value, every value is personel.
Of course thats complete bullshit, only fans is the quickest example to debunk that crappy theory.
NOTHING becomes more or less valuable just by using more or less work (energy).
You don't even know how blocks are mined - was it done on a Pentium5 or a C64 or an Asic?
The energy for BTC is SOLELY there to PROTECT it.
It's the amount of PROTECTION.
Everybody decides for himself, how much value that protection and scsrcity has.
A person with no water in the desert will value any drop of water higher than any amount of BTC.
There is no "intrinsic" value, every value is personel.