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Bitcoin is most definitely based on a material, but with the advantage that the material used in its construction is more varied. The material for construction
by hajile 11y ago
Bitcoin is most definitely based on a material, but with the advantage that the material used in its construction is more varied. The material for construction is whatever material required to create and power computers to perform the calculations that mint currency and transaction blocks.
Government is "by the people for the people". If a set of people come together and agree to a currency, then you may firmly state that they have formed the minimal government needed to meet this requirement (even though I believe this requirement to be superfluous and arbitrary).
- notahacker 11y agoIf we use your tortuous redefinition of widely understood terms, then the post Bretton-Woods US dollar remains commodity money (some energy and material was used to make it, even though it can't be converted back into that energy and material at a fixed rate) and a bunch of kids trading Magic: The Gathering cards is a government (they might not have any power over anything, but hey... they're people and they've agreed to trade)