20 sats \ 1 reply \ @cozy 14 Nov 2022 \ on: AskSN: Why is network hashrate at ATH while we are at the bottom in price? bitcoin
Because market price is a measurement of knowledge about utility, not the utility itself.
E.G. Before gold had an explanation for its value as an abstraction for rarity (as well as a useful base metal, for say, blocking out ultraviolet light), it was useless. I'm sure the cave men would rather have had a steak.
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