A lot of Bitcoin people think that fiat currency is “backed by nothing” because they utterly fail to understand that government fiat is a real thing with material value. We should drive that lacuna home with a truly persuasive demonstration: make Bitcoin extremely illegal
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When Bitcoin mining rigs get seized, bitcoins confiscated (and the owners imprisoned for civil contempt until they hand over the keys), then perhaps they will understand that “the government declares it legal tender” is actually a major source of value.
End of conversation
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