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No, money has value because the government makes it law that debt is payable with it; that's what gives a government's currency legitimacy. If the government ma
by Salgat 5y ago
No, money has value because the government makes it law that debt is payable with it; that's what gives a government's currency legitimacy. If the government made a law that debt could be paid with bitcoin, it would no longer fit Shiller's description.
- huerlisi1 5y agoWe can pay local taxes in Bitcoin in Zug, Switzerland. https://www.bloomberg.com/news/articles/2020-09-03/swiss-canton-takes-taxes-in-bitcoin-as-crypto-goes-mainstream https://www.bloomberg.com/news/articles/2020-09-03/swiss-can...
- Salgat 5y agoWe've had this in the U.S. for a while too, the trick is that they don't actually accept bitcoin, they just pay a 3rd party which charges a fee and converts it to regular currency.