Does Energy Give Bitcoin (or anything) Value?
The Heresy Financial Podcast - A podcast by Joseph Brown
Many people talk about the energy that bitcoin (and gold) stores for you as a reason for its value. The pushback against this argument is that is sounds an awful lot like the labor theory of value. And the labor theory of value is demonstrably false. So does the necessity of energy or labor have anything to do with the value of bitcoin or gold?