Re:BTC Hashrate dropped another 27% down ~62% form peak now ...
by lowkey on Monday June 28, 2021 @02:45PM
(#27665952)
> Obviously they are only worth as much as we all collectively believe
I agree, which means both fiat currencies and Bitcoin have no intrinsic value, only what we collectively believe.
> BTC is more like gold this way than the dollar
agree
Meanwhile BTC currently only serves as an abstraction over fiat currencies. It's practically only exchanged from and to fiat currencies, and that's not stable, as popularity is then the only mechanism dictating the price. BTC is much more like gold this way than the dollar.