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Ok, then the fundamental value of 1BTC is 1BTC, since it allows you to pay of 1BTC of any liability to whoever accepts Bitcoin.
by imaginenore 9y ago
Ok, then the fundamental value of 1BTC is 1BTC, since it allows you to pay of 1BTC of any liability to whoever accepts Bitcoin.
- Double_a_92 9y ago> to whoever accepts Bitcoin That's the difference.
- imaginenore 9y agoYes, in your case it's "whoever accepts the dollar". Huge difference /s
- provost 9y ago> to whoever accepts Bitcoin Double_a_92 is pointing out a distinction -- USD is pure legal tender, that is mandated by the US government to be accepted for payments of debts. Bitcoin is not.
- petters 9y agoDon't you see the difference? The value of the dollar at least partly comes from a government that has forced a demand.
- Infernal 9y agoIn case you're honestly approaching this and misunderstanding, the value of the dollar lies in that the US gov't transacts taxes in dollars. It's not just "whoever" - if BTC had a reasonably equivalently vital transaction that it could be used for (OPEC switches to BTC, EU switches to BTC) then it would be a bit more apples to apples.
- seppin 9y ago> allows you to pay of 1BTC of any liability to whoever accepts Bitcoin exactly.