Quote from: Medusah on May 25, 2024, 10:32:28 AM

Quote from: JamesNZ on May 25, 2024, 06:12:12 AM

The same is with dollars. I don't have a bank loan nor have I issued a bond to get dollars from the FED so I don't need dollars to return them to the US banking system. But masses of individuals and companies, the same as the US government, do need them.

Sure, it's like this: Bitcoin shares similarities with traditional currencies. While you might not personally own Bitcoin, there's a large network of individuals and businesses who do, and they've collectively established a standard for using it as a form of currency. Bitcoin possesses qualities that make it attractive for people to use it as a currency. What's your problem in this?

Quote from: JamesNZ on May 25, 2024, 06:12:12 AM

Literally every issued dollar is someone's debt.

If the central bank suddenly becomes corrupt and creates $1 trillion out of thin air, what debt backs up these newly printed dollars?

Quote from: JamesNZ on May 25, 2024, 06:12:12 AM

Regarding the second. What happens if the corrupt government destroyes people's houses in a war? Does that mean houses in general don't have real value? So, your logic is pretty flawed.

Houses in a country at war aren't worth as much as those in peaceful countries. This supports my idea that value is subjective and can change anytime. Nothing in life has a set value that everyone agrees on. But you act like the US dollar will always represent the exact same value.

Why are you so obsessed with this "corrupt government" argument? It's completely irrelevant the the topic at hand. If a postal service becomes so corrupt that it steals majority of letters, documents and products that doesn't mean its alternative is a service that transfers empty boxes and envelopes.