3 ms·
If suddenly every land on Earth but the UK is flooded, £1 will still have a value : the set of goods you can buy with £1.
by toto444 6y ago
If suddenly every land on Earth but the UK is flooded, £1 will still have a value : the set of goods you can buy with £1.
- shawnz 6y agoHow is that different from Bitcoins? If suddenly every land on Earth but one is flooded, and some people there happen to use Bitcoins (in addition to their other assets, probably), Bitcoins will still have a value too. Same with gold and everything else besides the fiat currencies of the sank countries.