Adam Smith called capital "stored labor". Bitcoin is literally stored computational labor (stored Hashcash).
. @cdixon Labor may or may not be valuable, but in context can be a good proxy measure of value: http://unenumerated.blogspot.com/2011/06/of-wages-and-money-cost-as-proxy.html …
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@NickSzabo4 Thanks for raising this point! (Personally I think that information distribution-value theory is more correct.)@cdixonThanks. Twitter will use this to make your timeline better. UndoUndo
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