Contrived.
Your imaginary dog can’t teleport value across the globe instantly, but Bitcoin can.
Your imaginary dog can’t teleport value across the globe instantly, but Bitcoin can.
- US Dollar: Backed by the US government, which has a monopoly on violence over its citizens and pretty much the entire world. The Federal Reserve has the ability to print new dollars as demanded by US government policies and is responsible for funding the endless conflicts that the US has been involved in overseas for the last 100 years. The inflation of the US dollar cripples the middle class and weights down future generations with debt that they will never be able to pay off.
- Bitcoin: 100% free of any kind of force, created by an individual who believed individuals should have sovereign control of their money and is 100%. Due to the limited supply cap it makes wars unfundable and actually increases in value as the years go on so you can pass it on to your children and their children.
If no one paid traditional money to your friend on the other side, he’d have no money. Also, whoever was sanctioning the country, can also very well sanction and seize the bitcoin if they’d like.
While I can buy a cup of coffee with bitcoin, I'd rather use the federal reserve notes that are backed by nothing but empty promises from government institutions that look down on you.
The world must be very confusing when your time preference and economic scope is 1 weeks worth of data.
"Someone can instantly and permanently steal your beloved dog and you'll never see it again" is a downside.