Bitcoin’s real value? It's in the Hashrate
How energy, computation, and cost give Bitcoin its economic backbone
Ask a dozen economists what gives something “intrinsic value,” and you’ll get a dozen definitions, scarcity, utility, trust, labour input, or perhaps just belief. But when it comes to Bitcoin, one source of intrinsic value often gets overlooked: the hashrate.
Far from being just a speculative digital token, Bitcoin is secured by energy, computation, and …
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