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Be kind to your elders (lemmy.world)

submitted 15 hours ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 10 hours ago

So the same as most currency that isn't backed by actual valuables? Like the US dollar after it stopped being backed by gold like 100 years ago?

Crypto is a world currency that people have assigned value to. Pretty much all other money is a currency that individual countries have assigned a value to. Both types can be just as worthless. Hyper inflation has made money from many countries worth less than a roll of toilet paper to wipe your ass with. For that matter, the US dollar could buy you 30 rolls of toilet paper 75 years ago. Now it can only buy you like 1 roll.