Re: How to grow the Bitcoin idea and avoid that governments shut it down?
First, there is no inherent value in anything (I explained that in another thread). The value of everything is subjective, it is not a characteristic of stuff... it's an opinion people have of stuff. But anyway, I understood what you meant.
Ok. Perhaps "inherent" is the wrong word to use. Things have value if there is demand. I made an assumption earlier that gold/silver/bitcoins have demand.
And also, the labor/energy spent on the production of something does not determine the price of this something. That's by the way the labor-value theory used by Marx to justify his theory, which, obviously, is wrong.
Something may be worth less than what was spent to produce it (that's why many business have losses!). Actually, I think that the current value of bitcoins is below what we spend in energy to generate them, but I never tried to calculate it.
Something may be worth less than what was spent to produce it (that's why many business have losses!). Actually, I think that the current value of bitcoins is below what we spend in energy to generate them, but I never tried to calculate it.
Ahh, but labour/energy itself is valuable. No one in their right mind would apply labour/energy to produce something that has no demand, for it would be a loss.
Nice talking to you. You know your stuff.