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BTC094: The Book of Satoshi w/ Phil Champagne (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
The New Liberty Standard Estimates Based on Production Cost
Philip Klein: I wanted to highlight one of the things that I personally found fascinating also in your book here. There was a person and this is just when they started to have market prices for Bitcoin. He said, in the absence of a market to establish a price, new Liberty standard estimates based on production cost is a good guess and a helpful service. That was back in 2010. This is basically the labor theory of value that he's talking about. And then his final thing that he wrote, at the moment, generating effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.
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