Losing 200 million dollars in bitcoin on your hard drive because you forgot your password: A Marxist interpretation

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Bitcoin only exists digitally. This will only provide a mental image and nothing else.

(Based on a New York Times commenter going by the name of Franz, from Germany):

Bitcoin’s increase in value is quite remarkable – the virtual increase in value is not matched by any actual value.

The generation of the Bitcoin is not a product of human labour, but that of a computer; a large amount of energy was consumed by computers around the world for this reason. As a result, the world climate, to the disadvantage of all, further heated up.

Bitcoin is neither the product of labour nor creative efforts. It is simply created out of nothing and now you lost the password and cannot have it. You see it in on the hard drive in front of you but you can not get it.

I feel sorry for the people who lose their house and belongings in a hurricane or fire, these are usually the product of a lifetime of labour. Sorry, but I can spare little empathy for Bitcoin victims.

As an asside, I think a light bulb joke is in order. Q: How many Marxists does it take to screw in a lighbulb? A: None, because it contains the seeds of its own revolution.

What are your thoughts?