Oddbean new post about login | logout Without labor, there is no service or product. Without expending energy, there is no mining bitcoin. Unless you have learn to change the laws of physics, there is no debate here.
If value/price is determined by labor or work inputs, explain a drop in price. Was there somehow "negative work"? The labor theory of value is bunk. > It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. -- Rothbard