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A comment on China declares cryptocurrency deals ‘illegal’. Parent comment

Re:China declares cryptocurrency deals ‘illegal’ by monological on Friday September 24, 2021 @12:05PM (#28644261)
That’s not what I said. It’s simple. Bitcoin has value because of proof-of-work which uses a ton of energy. US dollar has value because it’s propped up by the military which uses MORE energy (more so because there is no more gold standard)
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Re:China declares cryptocurrency deals ‘illegal’ by carnitine on Friday September 24, 2021 @12:16PM (#28644442)
The US dollar has value because the most productive economy ever to exist demands that all taxes be paid using US dollars. The army is a small part of protecting and enforcing that monopoly.
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Re:China declares cryptocurrency deals ‘illegal’ by imtringued on Friday September 24, 2021 @06:48PM (#28648637)
You can say that having a working economy props its currency of choice up but by that logic the dollar and other government currencies are propping up Bitcoin which is dependent on infrastructure of the economies of those nations.
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