Unless they didn’t.
There’s nothing inherently valuable about crypto beyond what value people assign to it in their minds.
There’s nothing inherently valuable about crypto beyond what value people assign to it in their minds.
What are you referring to with “research more”?
But I do wonder if the abstract nature of it will forever hinder its ability to do so universally.
I’m also interested why Bitcoin Cash wasn’t more successful after the fork.
you mean besides it being run by a bunch of crooks and scam artists like CSW?
For most people the value is what they can receive for it in trade. Which holds for all money.
If it wasn't radioactive, poisonous and pyrophoric people would probably all just leap into the Neptunium market.
If it were only worth pennies an ounce, numerous industries wouldn't be paying what they do for it. The fact that many industries value it at several thousand dollars an ounce is self-evident from their continued use of it.
Some bitcoin advocates will talk about how useful it is as a currency, and I wonder how much bitcoin is actually used for purposes other then to hope you can sell it to someone else for more than you paid.
Ultimately the populace could repudiate the whole social contract, which is also just consensus, but that's a far bigger deal than mere money.
The answer is "no, it's not the same". The attack does not require everybody to agree that the bitcoin is worthless.
Obviously if everybody agrees that the bitcoin is worthless, then it is worthless. But that's a separate topic.