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Modern society is built upon shared beliefs. Dollar has value because people believe it to be so. People go to work because they believe dollar will have value
by TrainedMonkey 4y ago
Modern society is built upon shared beliefs. Dollar has value because people believe it to be so. People go to work because they believe dollar will have value in part because other people believe the same things. Comparison to circular logic is quite apt, but it applies to most of the modern wold.
- nthacker 4y agobitcoin doesnt suffer this because proof of work provides an independent method for verification. the energy utilization argument that comes up should be evaluated in the context of the comparison of this independent humanless verification vs proof-of-stake or other shared or trusted mechanisms