Re:Bitcoin falls from $266
by Houshalter on Thursday April 11, 2013 @02:46AM
(#5530350)
Yes, it is a huge economy that has decades to stabilize, unlike bitcoin. My point is that it still isn't backed by anything. There is absolutely no guarantee that it will buy anything next year except what people next year are willing to give you in exchange for it (which could change due to a lot of factors.)
Being stable in value, and being guaranteed to have value are two very different things.
Ergo, a dollar today is guaranteed, on the average, to buy just under a today's dollar worth of things next year.
Ergo, a modern dollar is about the closest thing to a guaranteed exchange value that the world has ever seen.