Re:Cambridge Bitcoin Electricity Consumption Index
by tarsinge on Wednesday February 10, 2021 @09:53AM
(#26089902)
> Bitcoin literally stops existing if you stop believing in it.
That is the case for countless things. Is a corporation a real thing or a belief? Where is the physical entity Facebook or the physical entity Apple? Is it the people working for them? Their logo? Their contracts? It's all that and a collective belief in an abstract entity. That's true for fiat or states too, even if that belief can be enforced through e.g. army, that doesn't change the fact that's is a collective belief in something that has no material reality.
That is the case for countless things. Is a corporation a real thing or a belief? Where is the physical entity Facebook or the physical entity Apple? Is it the people working for them? Their logo? Their contracts? It's all that and a collective belief in an abstract entity. That's true for fiat or states too, even if that belief can be enforced through e.g. army, that doesn't change the fact that's is a collective belief in something that has no material reality.