Oh it’s not fundamental? What do you think would happen to the value of the dollar if the military didn’t exist and the US was invaded by a foreign county. Connect the dots.
If we’re going down that route, it’s more accurate to say the military impacts are actually protecting (and impacts assignable to) the economic activity itself not the particular currency it happens to take place in (because they take place in many currencies and affect the prices in a huge net that’s impossible to untangle). So the lack of military ecological costs to BTC are more of a figment of it’s place as largely a speculative asset and small slice of the economic pie, if it were to ‘win’ and become a principal currency it has all the same issues as the dollar or any other currency…
And for calling it fundamental, yes BTC requires burning lots of energy to have a transaction. Even if it goes so that day to day most transactions are lightning based you still have to burn that energy continuously to provide the security for new links in the network.
The value of the dollar depends on the land and property of the united states which is protected by the army. It takes multiple steps to get to "military props up USD".
