That is literally nothing. It’s worth what they say it is worth.
Bitcoin and monero is worth the efforts of the community to support it. Pretty much nothing backs FIAT, that is LITERALLY what fiat is, fiat is Latin for “let it be done”.
You can argue that without FIAT currency, crypto has no value, but in reality that is not the case because they have their own value. That value is determined by the community as well as the difficulty and abundance of coins. It is literally more stable than real world cash, you just have to USE it as such. ACTUAL COINS, not shitcoins.
The US government has an entire country it could liquidate if it really had to. It just is not linked to gold. There is nothing to liquidate for bitcoin. It is pure speculation. It is simply not backed by any physical value - and never will be.
I simply cannot wrap my head around how you are still not understanding this.
What exactly do you think would happen if the government liquidated all of its assets? Police, military, tax offices, literally everything that it does to be able to extract money from the public?
The US dollar is not backed by anything. It only has value because a large body says it does. They mint more money when they want to, which means that they can always just pull more money out of their ass when they want to.
Bitcoin and other actual coins require you to actually put in work to acquire them. They are agnostic of any body, person or government. They are still assets at the end of the day, they are just not backed by a governing body, they are instead backed by a community.
It sure ain’t looking good for fiat, almost seems like fiat is a tool for the government to conduct a pyramid scheme while actual coins have no one pulling the strings.
Crypto is not backed by anything. The US dollar is backed by the credit of the US government. Crypto is not backed by anything.
That is literally nothing. It’s worth what they say it is worth.
Bitcoin and monero is worth the efforts of the community to support it. Pretty much nothing backs FIAT, that is LITERALLY what fiat is, fiat is Latin for “let it be done”.
You can argue that without FIAT currency, crypto has no value, but in reality that is not the case because they have their own value. That value is determined by the community as well as the difficulty and abundance of coins. It is literally more stable than real world cash, you just have to USE it as such. ACTUAL COINS, not shitcoins.
The US government has an entire country it could liquidate if it really had to. It just is not linked to gold. There is nothing to liquidate for bitcoin. It is pure speculation. It is simply not backed by any physical value - and never will be.
I simply cannot wrap my head around how you are still not understanding this.
What exactly do you think would happen if the government liquidated all of its assets? Police, military, tax offices, literally everything that it does to be able to extract money from the public?
The US dollar is not backed by anything. It only has value because a large body says it does. They mint more money when they want to, which means that they can always just pull more money out of their ass when they want to.
Bitcoin and other actual coins require you to actually put in work to acquire them. They are agnostic of any body, person or government. They are still assets at the end of the day, they are just not backed by a governing body, they are instead backed by a community.
It sure ain’t looking good for fiat, almost seems like fiat is a tool for the government to conduct a pyramid scheme while actual coins have no one pulling the strings.