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USD is backed by the US economy and a significant portion of global trade. BTC is backed by hopes, dreams and market speculation.
by RealStickman_ 2y ago
USD is backed by the US economy and a significant portion of global trade.
BTC is backed by hopes, dreams and market speculation.
- desumeku 2y agoCorrection: The USD is backed by a ponzi scheme where people who put money in have to rely on the USA being able to get more out to pay debt. If it fails at this at any point (which has nearly happened dozens of times!) then the entire thing collapses and suddenly the "world reserve currency" isn't as much "currency" as it is pieces of paper and digital ledger entries. Ironic, isn't it?
- s1artibartfast 2y agoWhat point are you making in relation to what I said? USD can still be devalued.
- RealStickman_ 2y agoMy point is that the USD has some inherent value, while BTC has none.
- s1artibartfast 2y agoI think BTC has some advantages in the attributes I described in my parent post. Inherent or not depends on how far are you willing to stretch your assumptions.
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