• Phoenixz@lemmy.caEnglish
      31·
      6 months ago

      Of course, but in the end they both rely on a social contract. Bitcoin is worth x amount because that’s what people are willing to pay for it

    • iopq@lemmy.worldEnglish
      1·
      6 months ago

      Okay, but national currencies failed before because people would keep dollars and just convert at the time when they need to pay taxes

      Source: I still remember the Soviet ruble collapse and hyperinflation

        • iopq@lemmy.worldEnglish
          1·
          6 months ago

          It lasted longer in some countries, the Russian ruble was introduced in 1993, in my country the soviet ruble lasted until 1992