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> But the competition is fiat; backed by fighter jets and nukes; literally. I don't like this meme. Fiat currency is backed by an entire democracy that include
by 6gvONxR4sf7o 6y ago
> But the competition is fiat; backed by fighter jets and nukes; literally.
I don't like this meme. Fiat currency is backed by an entire democracy that includes a military, but the key piece here isn't the military, it's the democracy. Despite all the problems in the US and our economic system, the folks in charge of the currency generally have the right mandate (stable employment and stable prices).
- redisman 6y agoBitcoin also runs on infrastructure that is backed by the exact same forces. Networks, electricity, the computers. You couldn't have Bitcoin if those resources weren't protected by your government. Otherwise I can for example find the top 100 largest Bitcoin miners and walk up to their door with guns and demand all their Bitcoins or I'll blow up the mines.
- jonkho 6y agoDo you think you may be unsuccessful and get blown away by their own security apparatus?