Re:Did Bitcoin just prove it can't scale?
by username223 on Saturday December 09, 2017 @11:51AM
(#15886616)
> The government has no power to prop up the value of the USD if the world decides it's worthless.
I don't see "the world" deciding USD is worthless anytime soon: people in third world nations keep pristine US cash in their closets as a store of value; a lot of international trade uses dollars as a common currency; etc. If "the world" decides that dollars are worthless, that will be the least of my problems while I'm cowering in the bomb shelter I don't have.
Re:Did Bitcoin just prove it can't scale?
by jstanley on Saturday December 09, 2017 @11:58AM
(#15886653)
Agreed. I think the USD only has value because enough people believe it does, and I think that will continue to be the case for quite some time.
Same for BTC.
Re:Did Bitcoin just prove it can't scale?
by scotty79 on Saturday December 09, 2017 @01:41PM
(#15887256)
It might be different if Middle East decides it prefers to be paid in yuans not usd. Of course you can then rain a bit more democracy on them but then again China might take offence.
The dollar bill is worth 1 USD because the government asserts that.
That doesn't make 1 USD anything. It just means the dollar bill is worth 1 USD.
The government has no power to prop up the value of the USD if the world decides it's worthless.