“me know how banking with pretend currency works out for them.”
My US currency is also a made up currency, and not backed by anything tangible - no gold, no silver, no real estate, no interest contracts...
What it has, even as the world’s biggest debtor, is confidence. And being the healthiest sick horse in a stable of sicker horses.
Full disclosure: I own no cryptocurrencies, bitcoin or other. I have some US cash.
The dollar is legal tender for all US transactions, public and private. Show up at Walmart with dollars and you can buy stuff. Show up with bitcoin credits or gold bars and they will politely decline to take them.
“My US currency is also a made up currency, and not backed by anything tangible - no gold, no silver, no real estate, no interest contracts... What it has, even as the world’s biggest debtor, is confidence. And being the healthiest sick horse in a stable of sicker horses.”
correct. and it’s all just one big confidence game!
“My US currency is also a made up currency, and not backed by anything tangible - no gold, no silver, no real estate, no interest contracts...”
That’s been the case throughout all of American monetary history, including all of the gold standard years. Only a tiny portion of American currency were Silver or Gold Certificates.