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Yes, it's like an IOU, IOU 1 dollar, what defines how much a dollar is? What is the unit of measure? Well believe it or not, the issuer of the IOU gets to define what that is...
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No. The issuer does not define what the value is. The market defines the value.
When you buy
BTCeanie
BTCabies, it is your friend--the other finance enthusiast that's selling them to you--who dictates how many dollars you will pay.
You're welcome.