alt Hacker NewsIsn't this the same thing as saying "if everyone just agrees that a dollar bill is actually just a piece of paper, USD becomes worthless"? Albeit at a smaller scale
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palata • today at 9:55 AM
That's a good question, but it is different. The equivalent would be "if everyone just agrees that a bitcoin is worth nothing, then it is worth nothing".
I don't know if I have a good comparison here, but maybe something like "if the bank keeps your money for a little longer before validating your transaction, they can use your money for a little longer and make more money from it". Of course if your bank says that a transaction takes 1 year, you will go to another bank. But if they say it takes a day...
I don't think it is the same thing. Everyone agrees that mining the next block is valuable.