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A comment on Bitcoin Is Time. Parent comment

Re:Bitcoin Is Time by lowkey on Tuesday March 02, 2021 @03:30PM (#26320198)
> I don't see countries going to war over BTC (or the mining pool) as they already have cornered all the fiat currencies in a tight system.

I think that's the point here. Unlike BTC which is powered by Proof of Work (POW), the US Dollar is powered by Proof of Violence (POV). As a result the full accounting for the externalities caused by US dollars would have to include the cost of supporting and using the largest military industrial complex in the history of the world to protect the market for oil being denominated in US Dollars (petrodollars).

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Re:Bitcoin Is Time by smolder on Tuesday March 02, 2021 @05:39PM (#26322109)
Fiat is not powered by "proof of violence" because violence is not needed for it to function. It is maintained by social contract and the threat of violence, because otherwise it could only depend on trust, and trust is very expensive, as Bitcoin proves.
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Re:Bitcoin Is Time by TimJRobinson on Tuesday March 02, 2021 @06:42PM (#26322803)
You need to have an army and weapons to enforce that threat, which costs a lot of energy to maintain.
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Re:Bitcoin Is Time by smolder on Tuesday March 02, 2021 @07:26PM (#26323180)
Yes, fair point.
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