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No, the floor is unrelated to the energy put into mining. The intrinsic value of Bitcoin is the ability to facilitate financial transactions. Brinks' entire CI

No, the floor is unrelated to the energy put into mining. The intrinsic value of Bitcoin is the ability to facilitate financial transactions. Brinks' entire CIT vehicle business is based upon just a subset of this function, and we can agree their value is not zero.

kordless 13y ago
Bitcoin is able to facilitate transactions because of the power put into the computers running the Bitcoin network. Mining Bitcoin provides the functionality for validating the block chain. So, power into the network provides the value of security.
- dcc1 13y ago
  Newer mining equipment doesnt use as much electricity. Power is a variable but not an important one.
  - kordless 13y ago
    Regardless, power is used to run the equipment. There's a correlation here.
    - dcc1 13y ago
      Our whole economy relies on energy, which ultimately comes from the sun, theres a correlation, doesnt mean its important as you are trying to imply
- gnaritas 13y ago
  Bitcoin happens to currently use power that way, other coins don't; mining is not the only way to facilitate transactions and facilitating transactions is where the value is, regardless of the method used to do it. Power is but one of several options so the value can't be there.
mcguire 13y ago
So, bitcoin's ability to store value is due to its ability to be a medium of exchange?