The hilarious thing about comparing it to fiat though, is that in the case with the US dollar, the value of the dollar is based on trust in the state which is:
- Ensured by the government, whom we can't even trust to run efficiently with our tax money (i.e: causing shut downs over petty politics)
- Protected by the military, who wastes so much effort, time, money and resources on government "contractors", which is a shit show in itself. Seriously though... if you are interested in listening to a 1hr+ podcast on the topic I recommend listening to this one from Congressional Dish.
- Purchase power of the dollar comes directly from our involvement in making sure that our currency is the currency all other currencies have to use in order to purchase oil, gas, etc (a.k.a. the "petro dollar") ... This is makes it funny just based on the amount of pollution that comes from carbon fuels.
fiat is the root of all evil in mind, and always will be until I'm proven wrong.
No one is disagreeing with what you say here, but it also has nothing to do with this thread!
Bitcoin is a massive waste of energy. All comparisons are unfair, as nothing else runs purposely so inefficiently. Bitcoin could be run on a laptop, instead it uses as much energy as a country.