it is likely inherent for any commodity money that it must have a production cost. think about gold and what made it a good money for 6000 years, before the fiat experiment: you could NOT print it without expending effort to mine it. ie doing work. gold IS physical proof of work.
@adam3us Bitcoin mining is like burying coins in the earth and letting anyone have them if they put in the work to unearth it. But the coins go deeper in the earth as the system realizes more people are trying to obtain it. It's just minting coins but with extra steps. No value added.
@Pilsner_Maxwell the value added is the digital scarcity. it's more efficient than physical gold. the fiat experiment has been run, and found lacking.
@Pilsner_Maxwell @adam3us Hey MAX it’s not a coincidence that HUMAN history shows that when proof of work was implemented human society was better. The money coin clipping started. The end was forth coming.
@Pilsner_Maxwell @adam3us You don't get to decide the value, the market does.
@Pilsner_Maxwell @adam3us Its those extra steps that matter tho , anyone willing to expend energy and resources to go through those extra steps deserves the coins...it what gives them value.