Exactly! Fiat money has value solely because the participants in the market agree that it does so. That's practically the definition. And it's exactly where mos

Exactly! Fiat money has value solely because the participants in the market agree that it does so. That's practically the definition. And it's exactly where most cryptocurrencies are at, except for those that are explicitly backed (like Royal Mint Gold is backed by, well, gold). Hence my original comment. But some people seem to think that down voting that comment will somehow change these facts. Oh well.