Re:Cambridge Bitcoin Electricity Consumption Index
by Grustaf on Wednesday February 10, 2021 @10:44AM
(#26090676)
You can go through life without ever using physical cash. You get paid digitally, you buy groceries digitally. You even borrow money for a house digitally.
The thing you transact with is digital, liquid and fungible. In what sense is it not cash?
Re:Cambridge Bitcoin Electricity Consumption Index
by mj4m1n on Wednesday February 10, 2021 @01:27PM
(#26092934)
All those transactions are reversible at any point with a flip of a bit (or two).
If you receive physical cash, it's in your control.
Now if only that cash could not be inflated as much as it can.
Re:Cambridge Bitcoin Electricity Consumption Index
by Grustaf on Wednesday February 10, 2021 @01:35PM
(#26093029)
I don’t think any common definition of cash includes the idea that payments are “irreversible”. I don’t even see why this is so important. If someone pays me physical cash by mistake they have legal recourse to get it back. It’s not finder’s keepers.
The money in your bank account is a liability of the bank, it's not cash.