[VMG]

These "imaginary points" have very useful properties that cannot be achieved any other way.

Bitcoin mining is still vastly more efficient and sustainable than gold mining.

Edit: dear downvoters, rebuttals are welcome

[icebraining]

I think the belief that they're useful is not widely shared.

[VMG]

Do you know any other "imaginary points" that are scarce and can be transacted in an open system?

[icebraining]

There are many things that I believe not to exist, which doesn't mean they've be useful if they were, in fact, to exist.

[VMG]

Do you think money is useful? How about digital money?

[icebraining]

Thing is, digital money already existed - when my employer pays me, he's not physically handing me an envelope of bills or even writing a check. It is, and has been for quite a few years, digital money.

[VMG]

And for a lot of applications trusted third parties are completely sufficient, but in many instances you're better off without.