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/biz/ - Business & Finance

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File: 86 KB, 640x273, US_one_dollar_bill,_obverse,_series_2009.jpg [View same] [iqdb] [saucenao] [google]
57909322 No.57909322 [Reply] [Original]

It's not backed by goods and services. You are using it because the government forcing you to use it. The demand is based on violence.
Bitcoin at least is a utility token for a global transfer and trezor service. It's usefulness gives it's value.
Ethereum also has many other types of utilities.
BTC and ETH are more real than the unbacked fiat scams.
It's funny how normies shilling for the system what makes them poor.

>> No.57909337
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57909337

>> No.57909367

>>57909322
Normies don’t have the IQ to actually understand money. Best to only use them

>> No.57909376

>>57909322
>this thing I use as a unit for trade is not a real unit for trade
Pseud

>> No.57909668
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57909668

>>57909322
Bitcoin is literally fiat, along with any "official" currency.
Bitcoin theoretically has value for the same reason as other fiat currencies - because it can be used to buy many things.
Bitcoin has the extra properties of having a capped supply and permissionless transactions.
In practice most of bitcoin's price at the moment is speculation.

>> No.57909680

>>57909322

It's backed by violence you dumb dumb

>> No.57909812

>>57909322
>real money
What exactly is your definition of "real" money? USD can buy anything I want.

>> No.57910245
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57910245

>>57909322
because they're stupid

>> No.57910288

>>57909322
Except it is backed by goods or services. More concretely, those provided by the US government.

>> No.57910305

>>57909322
>>57909812
"Money" is whatever the government allows you to pay taxes with. That's it.

>> No.57910377

>>57909322
literally just status-quo bias because they can't imagine things ever being different than they have been in the recent past ten to fifteen years of their life. But eventually more people will remember it as "the dollar was always a weak shitcoin that it seems like everyone wants to flee from" as that conception of the dollar becomes more the old normal.

>> No.57910490

>>57909322
shut up. moron.

>> No.57910497
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57910497

>>57909322

>> No.57910554

>>57909337
This.

But also, you have to use it to pay taxes, and using anything else for any other purpose has been made artificially obtuse if not outright illegal. Also also, all bureaucrats and intellectuals are dependent on the money printer. So it's easy to see why people have come up with all sorts of rationalizations for why fiat alone counts as real money to make it sound more sophisticated than "cus da gubmint say so."

>> No.57910603
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57910603

>>57909322
Because they don't know how the feds scam them blatantly, if they knew how inflation and printing money (to cuck for Israel) works they would never have their savings in US dollars
Basically they are getting around 1.7% to 2% poorer every single year according to Truflation and they are literally clueless

>> No.57910829

>>57910603
While I understand how people can rationalize their worship of the state, what always amazes me is when they actually try to gaslight me into thinking that getting poorer year over year as a built-in feature of the system is desirable, AND that I'm some kind of moron for trying to escape it.

>> No.57910882

>>57909322
Speaking in regards to U.S. fiat, it's backed by the might and strength of the American Empire. Yes it's stupid but it works and it's the reality we live in

>> No.57911077
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57911077

>>57909322
>It's not backed by goods and services. You are using it because the government forcing you to use it. The demand is based on violence.
Correct, and this is why the dollar is the most widely accepted currency in the world, ever. The united states military, despite all the propaganda, can bring ruin on an unprecedented scale to all who oppose their financial system. If the popular digital currencies of the last decade were an actual threat to dollar hegemony, they would have been crushed from their inception. But they're been co-opted and incorporated into the behemoth.