[T.B. Yoits]

I think he’s fundamentally correct. There is nothing backing cryptocurrencies, except its notional value.

The same is true of fiat currencies, including the U.S. Dollar. At least with a cryptocurrency you have a good idea how many are in circulation. With the U.S. Dollar, you have now idea how much the U.S. Treasury has printed, or added zeros and ones to accounts, whether "legitimately" or for the Taliban.

[Right_Wing_Madman]

you have no idea how much the U.S. Treasury has printed

The Federal Reserve, a private bank, prints money, not the U.S. Treasury. This is an important distinction. If the Treasury could print money, it would mean the executive branch controls monetary policy - making the President all too powerful.