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A comment on S&P Dow Jones Indices to launch cryptocurrency indexes in 2021. Parent comment

Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by dmitrygr on Thursday December 03, 2020 @06:41PM (#25297035)
> whose value is not linked to anything intrinsic

The value of US currency is backed, whether you like it or not, by US's military might. Very much not nothing

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Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by doggosphere on Thursday December 03, 2020 @07:11PM (#25297326)
Can you take your dollars in to the government and redeem it for units of "military might", whatever that means?

You have it backwards. The military is an instrument in protecting the US dollar's dominance, control and influence as a reserve currency.

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Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by wayeq on Thursday December 03, 2020 @07:24PM (#25297444)
No, but you can pay your taxes with USD, and stay out of prison, which is kind of nice.
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Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by wizeman on Thursday December 03, 2020 @10:19PM (#25298507)
Practically all fiat currencies that have ever existed can or could also be used to pay your taxes and keep you out of prison, including all the ones that got destroyed or are currently being destroyed by hyper-inflation.

So I don't think that it's a good argument for the USD being backed by value.

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Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by jerrymiller on Saturday December 05, 2020 @08:43AM (#25314499)
Exactly. How did that work out for Venezuela and their currency?
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