Not really, because I spend some dedicated time to Ankify important stuff from the materials I have read throughout the day (or days) and this process involves a quick review and put them together.

Well said. "it's in any case quite useful to set effective priorities." this is exactly where I have been struggling.

Yes, I read through your annotated edition in detail as well and benefited a lot from it. It contains many additional resources that are extremely helpful. Thanks for creating it.

The main argument here is that at its current state, you have to invest not-so-small capital in order to be part of the bitcoin production system. If no one puts capital, no bitcoin will be created. In this regard, bitcoin is different from all other cryptocurrencies, including Ethereum (Yes, Ethereum also uses POW but there new blocks can be created much faster with less capital intensity). This has nothing to do with 21 million cap or scarcity. 

Corrected. Thank you for pointing them out. 

"what would really be useful is the valuation of a cryptocurrency relative to fields outside of it." Yes, this is something I want to explore more as part of the value of cryptocurrency in general. I am also aware of these types of projects, at least in the mission statement. But I really don't know if that is really something they want to do, or it is purely for the sake of attracting more investors.

I feel like the question of "what is the value of a cryptocurrency" should be different from "what is the value of cryptocurrency in general?". and I suspect that the answer will extend to beyond cryptocurrency. 

For me, it is the latter question that I am interested in. I agree that if the question is about price, it is relatively straightforward. But I do believe that price is an important component of the valuation and the article you shared seems a good start for this angle. Thank you for sharing it.

Thank you for your comments. Those are all really good points and they inspired me with several new points that I need to think about:

• Value of something has objective (but not constant) components and high dimensional.
• A new questions is: Can there be a universal/fundamental component for the value notion such that we can use an equation like this: value of something = universal component + objective component to represent value notion?
• Regarding your last point, I can't help but think that when different people have different valuations for the same thing because of the human irrationality, what does that really imply? Does it imply there is a universal value notion for (some) things and people are bad at predicting that or there is no universal notion and people should have different valuations? 

For instance, a computer's CPU is measured in GHz, which is a proxy for the number of calculations the CPU can run per second. So it is about one billion (${10}^9$) calculations per second. Now let's suppose the number of calculations your program needs to run is ${10}^6$, then you can make a Fermi estimation about the program's run time as $\frac{{10}^6}{{10}^9}={10}^{-3}$, which is millisecond. Usually we would expect the actual run time will be within an order of magnitude of this estimation.