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The American dollar is also about perception of value, but via a maze of interlocking attributes that make it slow to move.

A new fiat currency without a state sponsor is fragile by comparison. Always will be.



But it isn’t just the military and the taxes, it is the labor of all the people who are willing to work for US dollars that give it value. While the majority of people paid in dollars are hard working and generally honest, it seems that the majority of people paid in cryptocurrencies are scammers or criminals in one way or the other, or else financial operators. So till more people are getting paid in bitcoin or whatever I don’t see why anyone will find it something other than a speculative asset for dollar owners.




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