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Not at all. The US dollar has the economic and military might of the world's most powerful country behind it. What exactly does bitcoin have behind it again?
by lingben 12y ago
Not at all. The US dollar has the economic and military might of the world's most powerful country behind it. What exactly does bitcoin have behind it again?
- IkmoIkmo 12y agoThis is silly. He says that IF the belief the dollar will be worthless is ubiquitous, then it will become worthless. That's a function of the market, a true fact. The economic power and military are already calculated into that. It makes it very unlikely that people will think the US dollar will become worthless. But he wasn't talking about whether that belief is likely, but simply stating the true fact that IF everyone starts believing that, then demand crashes and supply skyrockets accordingly and it'll become worthless. In other words, no different from any currency or any good on the market for that matter, including bitcoin.