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A dollar has value because dollars are in demand. A bitcoin has value because bitcoins are in demand. Same thing. Economically speaking it doesn't matter why
by mrb 9y ago
A dollar has value because dollars are in demand.
A bitcoin has value because bitcoins are in demand. Same thing.
Economically speaking it doesn't matter why people demand them (eg. to pay a merchant or to pay taxes). The demand in and of itself is what gives them value. I would then argue that technically Bitcoin is fiat currency.