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I think it’s a bit of a stretch to attribute much of USD’s value to business deals with the US government. That must be a tiny effect. I’d say most of the value
by baddox 9y ago
I think it’s a bit of a stretch to attribute much of USD’s value to business deals with the US government. That must be a tiny effect. I’d say most of the value comes from the fact that US workers have to pay taxes in USD even if they earned income in some other currency or asset.
- phamilton 9y ago> pay taxes in USD basically, citizens dealing with the US government. I think it's the same category.
- lr4444lr 9y agoNo, not "dealing" with the US government: actually compelled by force of law to render a portion of your assets. I don't mean this to sound as ominous as it does, but rather as stabilizing a force as Bitcoin can never be.
- baddox 9y agoIf you define that so broadly, then sure. I got the impression that sgl was referring to directly doing deals with the US government where the US government pays in USD, which I suspect is a much less significant phenomenon.
- branchless 9y ago> pay taxes in USD bingo