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Can a government "back" currency by deeming it to be valuable, without offering to exchange it for a store of value? If not, saying that Bitcoin is "not even b
by guscost 13y ago
Can a government "back" currency by deeming it to be valuable, without offering to exchange it for a store of value?
If not, saying that Bitcoin is "not even backed" by fiat is meaningless. If so, we are using "backed" in the wrong sense.