Re:An act to amend Financial and Corporations Codes relating...
by shepardrtc on Tuesday August 09, 2016 @04:01PM
(#12257334)
It represents the resource and infrastructure investment needed to calculate the solution to a block. The resource being electricity, and the infrastructure being the computer and any peripherals needed (i.e. expensive video card).
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Re:An act to amend Financial and Corporations Codes relating...
by Spivak on Tuesday August 09, 2016 @04:43PM
(#12257578)
It represents the resource and infrastructure investment needed to produce the note. The resources being ink and paper, and the infrastructure being the machinery, labor, electricity, gas and trucks needed.
You're not really arguing that currency derives its value from the material cost of producing it, are you? Because then everything is a currency. Modern currencies are special precisely because they have much more value than their material cost.