Being interested in true value of things, it is concerning that market underestimates or overestimates intrinsic value of things. Luckily, for cryptocurrencies, we have a way to estimate the amount of energy associated with each unit of currency, so that a coin mined in 2009 is much cheaper than coin mined in 2017 in terms of energy quantity represented, and since each coin has additive constituents associated with each different block, could be traded at different prices as such.

## How to compute energy value of an incoming coin?

- Take the incoming addresses to the wallet, and trace them back to fractions of blocks that came into it.
- Check each block mining difficulty at the time to estimate the compute cycles required to mine it.
- Check the current energy performance to mine that block with current equipment available.
- Express it in energy (e.g.,
**kWh**) associated with the each block. - Sum the products of the fractions of blocks from incoming addresses and the associated block mining energy price today to obtain price estimate.

If the above is correct, we would see that cryptocurrency intrinsic value should actually be fragmenting into non-uniform (cause we have non-uniform measure in terms of difficulty on artificially uniform sequence of numbers in time), and falling in retrospect, as more efficient ways to extract energy become available and the people realize of the unfair rule of the game. For miners, in long term, it would make sense, rather to invest into electricity power plants, which would create true value commodity to society, convertible to diverse sets of assets.