a source familiar with the matter's avatar
a source familiar with the matter 1 year ago
The computers have value, yes. But how much of that power does a certain unit of Bitcoin buy me? If the answer depends on the conversion rate between fiat and Bitcoin, that power cannot be the source of the value of Bitcoin (because it would provide the valuation at an arbitrary and fluctuating rate)
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wil's avatar
wil hbhgardens@nostrplebs.com 1 year ago
Time & adoption is needed. A conversion rate is required atm, but once there is wide adoption people will start pricing in satoshis. I’d be willing to bet the value won’t fluctuate nearly as much either I’m sure folks knew the amount of gold to buy a loaf of bread back in the day, but I wouldn’t even have a good guess what that amount was/would be
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