[precisionshootist]

The bad news is what is behind the money you have in the bank is the same thing that is behind bitcoin. The intrinsic value of bitcoin and the US dollar are the same. More bad news is when the government wants to confiscate your wealth all they have to do is print more money, and they do this all the time.

[robroys woman]

The bad news is what is behind the money you have in the bank is the same thing that is behind bitcoin. The intrinsic value of bitcoin and the US dollar are the same. More bad news is when the government wants to confiscate your wealth all they have to do is print more money, and they do this all the time.

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I agree to a point, but there really is a big difference: The money I have is backed by a government. And that matters. Like I used to say to my friends in high school back in 1971: If the day comes where your US savings bonds are worthless, that will be the least of your problems.

With bitcoin, it can fail while the rest of the world hums along without a blip. If the US currency collapses, well, the political and cultural context within which it happens may actually be the real story.

Think Weimer Germany and Venezuela.

[catnipman]

“The bad news is what is behind the money you have in the bank is the same thing that is behind bitcoin. The intrinsic value of bitcoin and the US dollar are the same.”

true enough as far as it goes. but the big difference is that billions of people accept that the dollar is worth something whereas only a few hundred thousand accept bitcoin as worth something. it’s the same difference between major religions and small cults ... it’s all a matter of faith and how many people have that faith ...

[Elsie]

The intrinsic value of bitcoin and the US dollar are the same.

SHHHH!

WE don't want them to know!