[thatjoeoverthr]

Work isn’t value. It’s cost. It’s not crystallized; the capacity to do that work is spent and gone. If you mine and sell a bitcoin, your profit is the revenue -minus- that work.

(Not anti-crypto, just contesting this point.)

[bitxbitxbitcoin]

Good point. I try to identify the work/value that goes behind the USD. All the manhours and energy put into civic duties (military, government, etc). Also largely in the past and similarly uncrystallized, but somehow people find it to be more cyrystalline.

[lupire]

You're right that a lot of waste is miscounted as value -- this is why GDP is not the same as quality of life (even ignoring uneven distribution or logarithmic utility functions.), and part of why "purchasing power parity" and "cost of living" is different in different places.