"fiat currency is not backed by violence as many people think, it's actually backed by a captured economy" -- nostr:npub1mygerccwqpzyh9pvp6pv44rskv40zutkfs38t0hqhkvnwlhagp6s3psn5p
Discussion
Indeed!
"Fiat currency always eventually returns to its intrinsic value--zero." - Voltaire
Bitcoin fixes this
How are they captured? By being required to pay tax in the fiat currency, which if not paid then violence is applied.
That's like 2% of how they are captured
Yes, but the captured economy is maintained by the threat of violence
If so, then is that not itself captured by violence?
Few! The value is in the future value of the cash flows from citizens and other tax payers.
Violently captured I guess? ;)