Fiat is not powered by "proof of violence" because violence is not needed for it... | Hacker News

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		smolder on March 2, 2021 \| parent \| context \| favorite \| on: Bitcoin Is Time Fiat is not powered by "proof of violence" because violence is not needed for it to function. It is maintained by social contract and the threat of violence, because otherwise it could only depend on trust, and trust is very expensive, as Bitcoin proves.

TimJRobinson on March 2, 2021 [–]

You need to have an army and weapons to enforce that threat, which costs a lot of energy to maintain.

smolder on March 3, 2021 | [–]

Yes, fair point.

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