Understanding How To Value Work [In A Digital World]
Let us consider “work” in a special sense, as the inputs that go into the maintenance (or in the digital sense) creation of an object such as a piece of software. Work requires one key ingredient, time. Our theory of investment is predicated on these two elements and they are important to understanding the reason behind why some cryptocurrencies (such as Bitcoin) gain in value, while other coins disappear or stay stagnant. Further, this concept underpins another tenant of our investment philosophy, that a coin that manages to survive over time, will tend to appreciate over that measure of time if it is long enough.