Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
traincarswreck
on 30/07/2017, 02:42:46 UTC


Well one could argue that bitcoins value is derived from the work (labor) needed to bring each new bitcoin to market.  This would be the work performed by the miners and as anybody who has any history with bitcoin and specifically the act of mining would tell you is that at this stage mining is not about the hardware but about the energy required. And the price of that energy. So bitcoin is energy based representing both a commodity and a service, therefore fitting your description of the ideal form of money.
Of course!  Quite obvious. 

However this is not ideal money.  Ideal Money is money that is stable in value over a very long period of time.  Bitcoin is good but not ideal. Nothing from the poster you are addressing speaks to this.