[Manuel OKelley]

The fiat dollar is a scam but it’s here and it works for the moment

My problem with bitcoin is it represents a previously consumed value of power used to generate it

[E. Pluribus Unum]

My problem with bitcoin is it represents a previously consumed value of power used to generate it

I have no idea what that means. Do you?

[RedMonqey]

“How, then, is the fiat US dollar not a scam.”
It is legal tender back by the US government... For now.
When the US debt becomes so larger it crashes from the weight of its own gavitional pull, then it becomes worthless.
Bitcoin is just one panic away from being absolutely worthless.

[takebackaustin]

My problem with bitcoin is it represents a previously consumed value of power used to generate it.

So does gold. When energy prices go down unprofitable gold mines become profitable. At the margin, there are gold mines which only make a few dollars an ounce over the costs, mostly energy of extraction and refining. If expending $1000 of energy to mine $1005 worth of bitcoin is wrong, expending $1000 worth of energy to get $1005 worth of gold is too. But that’s how the nature of the asset keeps the value of gold more stable than fiat dollars.