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Information Overloader
Join Date: Mar 2003
Location: NW Lower Michigan
Posts: 29,811
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The move toward crypto has a lot to do with the precariousness of traditional currency, especially since trad currency is no longer backed by anything.
It looks to me like crypto is also not backed by anything. Dollars have value simply because we all agree that it has value. BTC has value the same way; by convention.
What I find interesting is that the value of BTC is measured in dollars just the same way the value of a dollar was measured in gold.
I’m not smart enough to understand BTC just as I don’t understand airplanes or magnets. But here they are!
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