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In a sense, it's true that the value of a currency is how much you can get for it. The problem is that you can't just peg it at a value, bitcoins supply is limi
by GhotiFish 13y ago
In a sense, it's true that the value of a currency is how much you can get for it. The problem is that you can't just peg it at a value, bitcoins supply is limited.
Imagine if every goods and service provider pegged their unit product at $1,000,000USD. The VALUE of the US dollar would drop immensely. What force could actually make them do that though? Because no one's going to pay a million bucks for a big mac, unless they have 4 billion in the bank at least. Something that can't happen to bitcoin.