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It seems like Bitcoin's value is at least partly based on it being fungible to USD. Even though you can technically turn it into many currencies, would a halved
by ehnto 5y ago
It seems like Bitcoin's value is at least partly based on it being fungible to USD. Even though you can technically turn it into many currencies, would a halved USD value not influence the value of BTC as well?
- m0zg 5y agoIt would affect its value wrt USD for sure, by driving it higher. Bitcoin is, at this point, the new "gold standard", and that is by design. You can increase the supply some, but it's exponentially hard to do so, just like with gold - all the easy deposits are long gone. Whereas increasing the supply of USD boils down to a single database "update" statement. I'm exaggerating for dramatic effect, obviously, but not by all that much.