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That's not a baseline value, that's a baseline cost. It costs money to mine a bitcoin, but that doesn't mean anyone will want to buy it. Gold is a bit differen
by marcell 10y ago
That's not a baseline value, that's a baseline cost. It costs money to mine a bitcoin, but that doesn't mean anyone will want to buy it.
Gold is a bit different since it has some baseline value from practical uses, but the store of value use case dominates those.
- eru 10y agoAnd the baseline cost of bitcoin even goes down, when nobody's mining.