Quote from: tailor on July 09, 2016, 11:37:15 AM

Quote from: marcus_of_augustus on July 09, 2016, 11:24:16 AM

Quote from: tailor on July 09, 2016, 11:18:31 AM

I think we can agree that if I spent terajoules digging sand instead of gold I wouldn't have something as valuable as the idiots you refer too.

so there it is, an admission that money needs to be tethered to the production of a valuable good. QED.

Well there's some circular logic.

Money spent does not mean a valuable good has been produced because cost of production alone doesn't determine value. If it did, production levels wouldn't fluctuate with price.

What's wrong with you, don't you understand science?!
Look, bitcoins are clearly a valuable good. It's an antifragile, disruptive, distributed public ledger with literally millions of real-world uses.
Its value value is guaranteed to double in a few hours by the immutable laws of the cosmos.
Have you even read the White Paper?