Lol if we get to the point that the dollar is useless then there’s not going to be internet. Shitcoins are worthless in emergency.
Unlike the shitty pretend physical money.
Not that I’m for crypto either, but all money is fake in that it holds no intrinsic value, it is a belief system as much as crypto is.
This is not wrong, and I used to think this way*. But to understand how the world really works, it’s very helpful to understand how money really works, which you’ll never learn from popular culture, popular media, or the prevailing neoclassical economic theory.
Second link doesn’t work for some reason.
All that I have learned and seen of money is that it’s a belief system/religion, heck, even the stock market works primarily this way.
I will read the one working link, however.
You don’t think being backed by the state has helped the dollar achieve widespread adoption?
Sure, it has no real backing beyond that though, it’s just paper and maybe plastic or other fabric and numbers on a screen/in a database at the end of the day.
That’s my only point really, that if not for the backing by the state or people’s belief in it, it would hold no value.
It’s backed by the full faith and credit of the US government. And personally, I do not have very much faith in the US government and have not had much faith in it for a very long time. The other thing that backs it is the barrel of a gun, which they will point at you if you do not wish to use it.
Yeah, but that’s the crucial difference that fully explains why people use dollars and don’t use crypto widely (and likely never will).
