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It's not speculation though. They literally sell one currency for another. That they have value is a given, or they wouldn't be able to exchange one the other.
by NaturalPhallacy 6y ago
It's not speculation though. They literally sell one currency for another. That they have value is a given, or they wouldn't be able to exchange one the other. (notice how it doesn't matter which currency is which in that sentence?)
Acceptance defines value. No other factor trumps it.
- xxpor 6y agoThat's exactly my point. They're mining a commodity, not a currency.
- NaturalPhallacy 6y agoIf that's what makes a currency a commodity, then USD is a commodity.