[carlmr]

That counts for crypto as well though. If your phone bill is in crypto, and society believes (!) in crypto, then you might have society enforcing it's beliefs with the full force of the law.

I.e. imaginary.

Your phone bill is just another level of abstraction on top of the USD imagination.

In the middle ages witches were believed to be real by enough people to burn them on the stake. The full power of the state was behind this. Unless there's scientific evidence of sorcery now I think witches are imaginary.

It doesn't make the burning sensation less real.