Part of the problem in any discussion of the US Dollar, Euro, Bitcoin, etc. is basic concepts. Money & currency are not the same things. There is a similar problem with Media conversations about government/country/nation. They throw those terms around too as if they are interchangeable.
Bitcoin is closer to a currency than it is to “Money”. Money has to be a store of value. Currency can stand in for money as a medium of exchange.
Paper money is currency. The US Dollar — when it was backed by Gold & Siver — was real Money. Now it is “Fiat Money”.
The US Dollar — when it was backed by Gold & Siver — was real Money. I have some of that. It states, quite prominently...
REDEEMABLE IN GOLD ON DEMAND
AT THE UNITED STATES TREASURY,
OR IN GOLD OR LAWFUL MONEY
AT ANY FEDERAL RESERVE BANK. 1928 series
then it morphed to...
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS,
PUBLIC AND PRIVATE, AND IS REDEEMABLE IN
LAWFUL MONEY AT THE UNITED STATES TREASURY, OR AT ANY FEDERAL RESERVE BANK. 1934 series
then it morphed to...
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND
PRIVATE, AND IS REDEEMABLE IN LAWFUL MONEY
AT THE UNITED STATES TREASURY, OR AT ANY FEDERAL RESERVE BANK. 1950 series
then it morphed to...
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS,
PUBLIC AND PRIVATE. 1978 series