> 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.
But fiat has taxes, and state-backed violence and jails.
If your state demands your taxes be paid in FIAT, no matter what you wan't, you'll be paying in FIAT (or fined, or in jail, or depending on the circunstances maybe dead).
tarsinge|5 years ago
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.
throwaway3699|5 years ago
iagovar|5 years ago
If your state demands your taxes be paid in FIAT, no matter what you wan't, you'll be paying in FIAT (or fined, or in jail, or depending on the circunstances maybe dead).
lottin|5 years ago