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The dollar is backed by semi rational opinions of the GDP of the nation(s) printing the dollars. The relative values of currencies shift, normally slowly, becau
by gameswithgo 5y ago
The dollar is backed by semi rational opinions of the GDP of the nation(s) printing the dollars. The relative values of currencies shift, normally slowly, because normally economies don't tank overnight.
Bitcoin is not backed by anything. Thus it has wild swings.
- JohnJamesRambo 5y ago> backed by semi rational opinions of the GDP of the nation(s) printing the dollars. About that... https://www.currentmarketvaluation.com/models/buffett-indicator.php https://www.currentmarketvaluation.com/models/buffett-indica... https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL
- traloid 5y agoIt is backed by cost of electrical consumption. Its just that 90% of its value is speculation. But it absolutely does have "real value" and is backed by material reality.