That's not useful energy. If I had a certificate that gave me the right to use 100MJ of energy from the local power plant, that would be worth something. Bitcoin just shows me that someone did calculations in the past.
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A currency with no value is useless as a currency
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Taxes matter much less than the projection of military force. That's what's propping up the dollar, not taxes.
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Needs a connection to the money, but I agree that force in general backs the dollar
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The connection to the money is the petrodollar hegemony.
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The exchange of oil for dollars isn't really enforced by the military. (Taxes are)
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Iran, Iraq, and Libya would like a word...
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Those weren't actually about oil. If they were, we would have taken the oil.
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You're right, they were about what format the oil is traded in, not the oil itself.
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Nah. Iran can trade oil in rubles and it wouldn't make much difference. The value of the dollar doesn't really come from that.
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