It's in the head as in an idea; nonetheless, its physical manifestations are in the energy required to run it.
Discussion
It's superior to fiat because its supply is predictable and easily auditable — a day and night difference vs fiat arbitrary system.
Absolutely! My post was in no way meant to imply that Bitcoin wasn’t the superior money. I just never understood why some people have a hard time understanding it.
Difficulty itself is intersubjective too. Bitcoin objectively does not require any energy to run. These are the rules that we agreed on.
However I do agree that these intersubjective rules anchor Bitcoin in objective reality.
> Difficulty itself is intersubjective too. Bitcoin objectively does not require any energy to run.
No energy required means a system that is easily overwhelmed by an attacker. PoW is an essential part of a decentralized network security.
It's the most resilient system we currently have to hold, receive and transfer value without involving 3rd parties including the state itself.