4 ms·

Bitcoin is able to facilitate transactions because of the power put into the computers running the Bitcoin network. Mining Bitcoin provides the functionality f

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.