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thanks, I will look for documentation on that debate. I think he looked at the energy work value as stable, as you need a fixed amount of Jaule to boil 1 liter

thanks, I will look for documentation on that debate. I think he looked at the energy work value as stable, as you need a fixed amount of Jaule to boil 1 liter of water from 20C. In a way, he foresaw an energy based value system. maybe 'predict' bitcoin was a stretch

Nomentatus 5y ago
I found it - see my other comment, I shoulda put it here. You have a point that I had overlooked, yet in fact the joules needed to make a pencil or anything else do go down a bit each year. Efficiency is not the only kind of economic growth, but a large contributor. In contrast, the joules needed to mine a Bitcoin go up quite steeply as time goes on and fewer are left to mine, by design. So I don't think this is a fit.