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The dollar and other government-backed currencies will always be in demand because even if you are paid in bitcoin your taxes are paid in dollars.
by sidibe 5y ago
The dollar and other government-backed currencies will always be in demand because even if you are paid in bitcoin your taxes are paid in dollars.
- ashwagary 5y agoSure they will unless Bitcoin is accepted as legal tender but even then, remember Gresham's law. People would rather hold on to 'good money' (Bitcoin) and get rid of 'bad money' (USD) if given a choice. So the majority will happily pay taxes in USD.