Value depends on labor (wages) and rent (capital). The question for me is whether mining blocks for bitcoin is actual labor. I feel that it is because there is labor in maintaining the bitcoin network. But steem is actually partly linked to the labor of contributing content on steemit.
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Value does not depend on labor, it depends on agreement. Labor is just one variable that can be included in an agreement and because work is perceived as a necessary contribution to society, it became the norm. But fundamentally, value is just a form of agreement.