3 ms·
As opposed to which fiat currency?
by WalterSear 9y ago
As opposed to which fiat currency?
- celticninja 9y agoI think that Bitcoin has done one thing really well and that is to make people understand more about money and how it works. This argument that it has no intrinsic value can be applied to every fiat currency used the world over. Whenever someone asks this I ask them what intrinsic value EUR, GBP or USD has, some people genuinely think/thought that the bank of England will exchange you £10 worth of gold for a £10 note. Explaining to them that not only is this not true but that there is nothing that gives a £10 note any value other than other people believe it to be worth £10 is a real eye opener for them. Explaining then that bitcoin is worth $x because people think it is worth $x makes so much more sense after that.