The US dollar technically isn’t backed by anything either
No, it is. it’s not “hard backed” by X dollars to Y grams of gold, but it absolutely is backed in the sense that McDonalds (and hundreds of other companies) does it’s accounting in USD and will continue to do so for the foreseeable future and doesn’t expect wild fluctuations in ingredient prices or wages and wants to prevent those from fluctuating, because when that happens, their business math gets harder.
You can go outside the door with 100$ in your pocket, vanish for 3 months, come back and it’ll still be usable to buy food, a hotel room or a transportation ticket.
Yes, but last year a cheese burger cost me 20% less and my dollar went further. You’re trying to argue the USD is the best form of currency because it’s used nearly everywhere, I’m telling you that it’s only the best currency today because it was stable in the past and backed in value by the commodities around the world. $100 today still gets you food and drink but soon it’ll buy you a whole lot less. The foreseeable future is here dude, sadly, Americans are in for a shock with this whole isolation focus the USD drops from favor.
No I was trying to explain what bitcoin lacks in terms of backing, in comparison to “traditional” currencies. We don’t “need” need the dollar or euro or whatever. Dollar in particular is in for a rough ride.
No, it is. it’s not “hard backed” by X dollars to Y grams of gold, but it absolutely is backed in the sense that McDonalds (and hundreds of other companies) does it’s accounting in USD and will continue to do so for the foreseeable future and doesn’t expect wild fluctuations in ingredient prices or wages and wants to prevent those from fluctuating, because when that happens, their business math gets harder.
You can go outside the door with 100$ in your pocket, vanish for 3 months, come back and it’ll still be usable to buy food, a hotel room or a transportation ticket.
Yes, but last year a cheese burger cost me 20% less and my dollar went further. You’re trying to argue the USD is the best form of currency because it’s used nearly everywhere, I’m telling you that it’s only the best currency today because it was stable in the past and backed in value by the commodities around the world. $100 today still gets you food and drink but soon it’ll buy you a whole lot less. The foreseeable future is here dude, sadly, Americans are in for a shock with this whole isolation focus the USD drops from favor.
No I was trying to explain what bitcoin lacks in terms of backing, in comparison to “traditional” currencies. We don’t “need” need the dollar or euro or whatever. Dollar in particular is in for a rough ride.