Quote from: Medusah on May 23, 2024, 08:38:14 AM

Quote from: JamesNZ on May 23, 2024, 08:13:20 AM

The idea that dollars are based on faith is just a popular myth.

Not dollars specifically, but rather their market value. You contend that $1 holds the same value as a McDonald's burger. However, I'm asserting that this equivalence holds only under the condition that the US government and central bank exercise responsible monetary policy. If, for instance, they opt to print $10 trillion out of thin air, the value of the dollar diminishes. This principle is grounded in basic economics—supply and demand—and applies not only to assets and products but also to currency itself.

I'm intrigued as to why you find this concept challenging to understand.

Why are you keep misrepresenting everything? What are you trying to achieve? I am not talking about market value or price, but about real value. Regardless of their market price, dollars, just like food can satisfy people's needs. The first one need to get rid of debt owed to the US banking system while the second one nutritional needs. On the other hand, regardless if the price of Bitcoin is one dime or a trillion dollars they still cannot satisfy anyone's needs.