Re:Bitcoin falls from $266
by thatthatis on Thursday April 11, 2013 @09:34AM
(#5531828)
I've seen a lot of good arguments on the value/worthlessness of fiat currency, but I'd never seen fiat currency defended as having the value of not going to jail. That's an amusing and on its face compelling argument.
[ Parent
| on HN ]
Actually this rule isn't limited to taxes. EVERY debt you may have in the united states HAS to accept a pre-agreed dollar amount as payment in full.
The value of the dollar is "guaranteed", in theory, by the law that states that anything for sale inside the borders of the united states can be bought for dollars, without exceptions.
As to how guaranteed that makes a dollar, that is a matter of opinion. It is a lot better than Bitcoin imho.