Proof of Work Currencies as Scarce Commodities:
▻https://hackernoon.com/background-i-run-operations-and-fund-evaluation-for-block-zero-capital-a
Proof of Work Currencies as Scarce Commodities:SummaryGiven the relatively low adoption rate of Bitcoin as a means of exchange (~ 250,000 transactions per day for Bitcoin on 1/25/2018) and the rapid appreciation of its price during Q2 & Q3 of 2017, some market observers have argued that Bitcoin (and Ethereum by association) is simply an instrument of irrational speculative demand in virtual markets. However, proof-of-work cryptocurrencies should also be considered as intrinsically scarce commodities whose production is spurred by participants allocating significant computational resources to maintain an immutable chain of records (i.e #blockchain). Mining represents a unique attribute of crypto-assets and the mining pools involved in securing the Ethereum and Bitcoin blockchains (...)