On: Founders Fund Makes Bet on Bitcoin

[cloakandswagger]

I have hope that Bitcoin's scaling issues will be solved eventually, though as we've seen it's going to be a slow, arduous process to get consensus among the various factions.

If and when they are solved, the incredible hashing power of the network plus the massive amount of Bitcoin software and support should restore its reputation as the premier cryptocurrency.

[Nursie → cloakandswagger]

How does the hashing power give it value?

AFAICT it's the other way around - the value makes more hashing economically viable.

[cloakandswagger → Nursie]

They're complimentary. Bitcoin attracted lots of hashing power due to its value, and its value is reinforced by its hashing power/network security.