• Phoenixz@lemmy.ca
      link
      fedilink
      English
      arrow-up
      0
      ·
      7 months ago

      Of course, but in the end they both rely on a social contract. Bitcoin is worth x amount because that’s what people are willing to pay for it

    • iopq@lemmy.world
      link
      fedilink
      English
      arrow-up
      0
      ·
      7 months ago

      Okay, but national currencies failed before because people would keep dollars and just convert at the time when they need to pay taxes

      Source: I still remember the Soviet ruble collapse and hyperinflation