RE: Bitcoin's Unit of Account: The Watt-Hour

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Bitcoin's Unit of Account: The Watt-Hour

in bitcoin •  7 years ago  (edited)

Which is also exactly why the argument of value-backing through resource input is invalid. Resources and cost per mined bitcoin may vary, 1 bitcoin is worth EXACTLY the same as 1 other bitcoin. Always.

But the value of 1 bitcoin changes immensely over time, the swings are huge both up and down. That element of value also has nothing to do with the amount of resources used to create it.

bitcoin
7 years ago by

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