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That comparison is flawed. Visa is not money. The purpose of mining is to protect the value of the currency. Protecting the value of the US dollar requires a h
by Geee 6y ago
That comparison is flawed. Visa is not money. The purpose of mining is to protect the value of the currency.
Protecting the value of the US dollar requires a huge economy with politics and military power.
- benlivengood 6y agoVisa is literally money created by issuing credit just like all the other money in the economy. No one spends specie.
- Geee 6y agoIt's credit that is backed by the US dollar. Similarly Visa could use Bitcoin as their base currency, and they probably will.
- perfunctory 6y agoWouldn't you eventually need military power to protect your bitcoin mining rig?
- mateuszf 6y agoNo if it's decentralized enough.