Most all fiat money is on a digital ledger just as bitcoin is. The difference is that the fiat ledgers are controlled by cartels of banks.
@stevedekorte there's also the part where you can just print more fiat money whereas Bitcoin acts as a depleteable resource
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@bascule Yes, the banks take advantage to effectively add to their own ledger entries which debases all other entries.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@bascule You might say bitcoin does this via mining and eventually tx fees, but there is a market which drives their margins to zero. -
@stevedekorte it's payment for a cryptographic proof-of-work *shrug* -
@bascule It's a payment for doing the work required to ensure a trusted ledger. Compare it to CC and banking fees, then add inflation...
End of conversation
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