4 ms·
I think their intrinsic value is backed by their usefulness as a medium of exchange for the use cases described in the parent comment. Solving the crypto proble
by ilikebits 9y ago
I think their intrinsic value is backed by their usefulness as a medium of exchange for the use cases described in the parent comment. Solving the crypto problem seems more like something that makes them useful for exchanging.
- pmiller2 9y agoSolving the crypto problem is just part of the mechanism that ensures there's a limited supply of them. We could do the same thing by randomly assigning floating point numbers between 0 and 2.1x10^10 - 1 (corresponding to the 21M BTC that are ever allowed to exist). The part that makes BTC relatively safe to transact with is the blockchain itself.