Comments by "k98killer" (@k98killer) on "" video.

"Cash" used to mean silver and gold coin before it meant paper.
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 @marcpeycker very true. The more accurate phrase is that Bitcoin is secured by its energy use, which prevents fraudulent actors from stealing/double spending coins.
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Maybe this comment will stick. @mkarcpeycker Bitcoin is not backed the way gold is not backed, but its network is secured against double spending by its energy consumption.
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@marcpeycker I tried responding several times, but ThemTube is censoring almost everything I post.
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@joshuamena-tornay8557 this is a fundamentally incorrect analysis. Value is entirely subjective. What gives bitcoins value is that people value the ability to securely transact them on the Bitcoin network with guaranteed supply scarcity and without censorship. The consensus mechanism is thermodynamic and probabilistic, but that does not give bitcoins value. If the value of a bitcoin was derived from the energy used to produce it, then older bitcoins would be worth less than newer ones because they required less energy to produce.
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@rawjhaw why should I care what the tribal deity of a desert people allegedly thinks about monetary economics?
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Nobody can shut off Bitcoin. The only plausible way to prevent Bitcoin transactions is to cut off the Internet entirely, and no country is dumb enough to do that since it would nuke their economy except those few authoritarian countries that already don't have functional economies.
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@ksgraham3477 power failure certainly does not wipe out the Bitcoin ledger. It's just the systems requiring trust in known liars that would be subjected to that.
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@serfingusa5007 the Federal Reserve issues base money in digital form, and then they force banks to accept it in exchange for the assets the Fed purchases. It is, in fact, forced upon us at a systemic level.
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