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You don't think the fact that the other 99.99% of the population is perfectly happy using dollars is more of a reason?
by lurr 9y ago
You don't think the fact that the other 99.99% of the population is perfectly happy using dollars is more of a reason?
- vec 9y agoNo, although that is nice. Taxes are why I think a piece of paper with a bad portrait of George Washington has some intrinsic value to me, whether or not there's a secondary market for them. It's why I think the purchasing power of that piece of paper is anchored to a real phenomenon in the real world, and why I don't expect that purchasing power to move around much. Think of it like this. If the dollar lost 20% of it's purchasing power overnight, I would be pretty damn sure something important has happened in American governance. Bitcoin just moved 20% because...?