Oddbean new post about login | logout USD : we say its worth 1 and we will shoot you if you disagree BTC : i wasted electricity to tell everyone i have 1 And the whole time you cant eat it, it has no use value. I can write 1 on a post-it and accomplish the same thing.
You don’t think the USD is backed by energy? Take a look at how much the military industrial complex uses in energy to uphold dollar heirarchy. Much more. You can’t eat dollars, it has no use value other than to make a fire after you and your family are impoverished by hyperinflation one day. The US govt writes a hundred post-its a day with infinite supply.