Many people implicitly believe in the labor theory of value, and it leads to a lot of confusion and predictions about price minimums.
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Nobody said that’s an impossible outcome or defended (implicitly or explicitly) the labour theory of value in this thread.
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You said the price many miners pay to produce bitcoin is a hard floor for the value. So if you weren’t implicitly thinking about the labor theory of value, what is the fundamental economic significance of that price point? Does the price of gold obey an analogous theory?
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