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272

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[–] 0 pt

People do not back currency. Peoples interests and wants give currency value.

Crypto (not all, but good ones) are backed by an absolute maximum amount of coins that can ever exist. Mathematical algorithms. The blockchain. Decentralization.

The dollar works the same exact way. Except there is no max to how much can be printed, the algorithms that run fiat markets are outdated at best. And there is no blockchain. And its owned by a non-American private entity (Centralized)

The blockchain is one of the greatest technological creations of our time. I would recommend people read about that before having opinions about how crypto works. Because if you don't understand the blockchain you will never understand crypto.

If the lights go out it all becomes worthless. Dollars, crypto, metals, etc... So the whole internet going out argument is just stupid. Nothing can happen to crypto that cant or already has happened to the dollar.