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> What is the intrinsic worth of USD? Since dropping gold standard, I've always seen it as faith in the US economy. There's no similar entity backing BTC.
by w0m 5y ago
> What is the intrinsic worth of USD?
Since dropping gold standard, I've always seen it as faith in the US economy. There's no similar entity backing BTC.
- cft 5y agoThat probably means that BTC will be priced more accurately than USD
- rantwasp 5y agofaith != intrinsic value. all forms of money are worth something because people collectively agree that they are worth something and trade them for goods. the USD is not special. BTC is not special. People getting on their high horse about the USD and the faith in the US economy seem to forget that all things have a lifecycle and eventually everything goes away / is replaced. There is immense immediate pressure to keep the USD valuable and the thing that is used for international trade, but my guess is given 20-30 years a lot of things can happen.