3 ms·
Your GBP is not made valuable by 'the military'. It's made valuable by the credibility of numerous UK institutions and the social contract inherent in the ever
by alexasmyths 9y ago
Your GBP is not made valuable by 'the military'.
It's made valuable by the credibility of numerous UK institutions and the social contract inherent in the every day trust that people have in it as a currency.
That said - it's a currency, not really a store of value.
And FYI - your GBP holdings are definitely generally worth more than you BTC, mostly because of the inherent volatility of BTC and the fact that it could go to 0 tomorrow. BTC owns the high end of the probabilistic outcomes - but also the low end. You won't get rich owning GBP, but they won't go to zero or near zero either. And if you live in an are where GBPs are useful, like the UK, well there is that added value.