“There is nothing backing cryptocurrencies, except its notional value.”
Oh, like the US dollar. Now I get it.”
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That canard (started by crooked gold and silver dealers) really needs to die. The dollar is backed by the worth of all the land, minerals, oil, gas etc. and improvement owned or controlled by the federal govt.
And that’s plenty, which is countries accept the fact the dollar is stable, use it and trade it.
The dollar is backed by the worth of all the land, minerals, oil, gas etc. and improvement owned or controlled by the federal govt.
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Many would argue that the dollar is backed internationally as a Reserve Currency solely on the strength of the US Military, now in disarray.