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Isn't that what really backs that currency ? The more you spend value to make it, the more valuable it becomes. Just look at the relative values of BTC and othe
by AKifer 9y ago
Isn't that what really backs that currency ? The more you spend value to make it, the more valuable it becomes. Just look at the relative values of BTC and other altcoins that require less energy to mine. IMO there's nothing to worry about it, it's just the natural order of things, you cannot find gold in every house backyard.
- allenz 9y agoNo, you have the causality backwards: the high value of BTC is what incentivizes large investments of electricity and servers. The value of a currency depends only on supply and demand. BTC has the highest demand among cryptocurrencies mainly due to network effects.