Post
Topic
Board Economics
Re: On Marxism and the bitcoin energy consumption debate
by
Ix
on 10/09/2018, 11:01:24 UTC
This hash needs work to be produced, hence it is a store of value.

These holes need digging!!

Quote
One single miner can't produce a bitcoin with the same utility of current bitcoin.

The utility of bitcoin is essentially fixed since the beginning untill now.

Contradiction between two neighboring sentences.

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Marginal utility is a made-up approximation of a qualitative phenomenon:

I made no argument for marginal utility, only that utility is not marginal utility.


I don't understand the vehement denials nor the completely unnecessary ad homs. I am willing to entertain Marx's LTV. I don't think it fits well, but that doesn't mean I am impossible to persuade. But as I suspected from the beginning, you don't appear willing to have a reasonable discussion, so I will exit the thread.

But I will say again that if you want any of your arguments to hold water, you must explain the value of non-PoW currencies. Unscientifically comparing them to fiat with a false equivalence is not an argument.