Wao, I started to read and had to stop cuz it's a lot of value content with information, I will to study the post with more calm. Thanks!
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Wao, I started to read and had to stop cuz it's a lot of value content with information, I will to study the post with more calm. Thanks!
Heh, I was thinking, "This is too long" myself as I was writing. I should have made a tldr up front. Maybe I'll have AI do it and post a comment.
Just did it. Grok 3 summarized:
The article explores the backing and value of cryptocurrencies, using Bitcoin and Hive-Engine token HBIT as examples. Bitcoin isn’t backed by physical assets but by its immutable code, mathematical scarcity, and the energy (electricity) used to mine and secure it, as noted by Satoshi Nakamoto. Its worth combines this intrinsic value with subjective market demand—what people are willing to pay, akin to a $6.2 million duct-taped banana artwork.
For HBIT, a Hive-Engine token, value stems from the effort to mine it via comments (proof-of-comment), expending Resource Credits (RCs). Estimating RC cost is complex due to its dynamic nature, but the author approximates an intrinsic value of 6 sats (based on opportunity cost of lost upvotes, ~0.02 HIVE) plus a market value of 1.13 sats, totaling roughly 7.13 sats per HBIT. The formula "Value = Intrinsic + Market" (V = I + M) applies to all tokens, blending tangible backing (code, energy, effort) with subjective worth.