Where would it's value come from?

Saying it's value comes from 'scarcity' isn't sufficient.

ok

Our Fiat currency's value isn't entirely based on scarcity

its not

It's largely based on confidence.

fiat is based on trust

Right.

in your gov 😂

Right.

Scary as that is.

well

no

would you rather trust open source that anyone can contribute?

I'll push back on that.

It only has transfer value if it has utility. If say, a business offered transactions in bitcoin it was probably because it was backed by exchange to currency

It's not entirely just confidence in the government

open source, anyone can contribute: the code says there's only 21 million

Even if the government vanished overnight, people would still accept USD.

Even if they didn't they would accept gold

I was about to post a whole criticism to tim but now I'm wondering if I want to get into a debate

With anyone rn

Lol

😂

Post it in debate

What a giant waste of time

Go for it

USD represents a share in the valuation of US goods and labor.

That's the trust aspect of it.

yes, and the USD is being printed at the whims of politicians to bail out banks during financial crisis

Right.

Which devalues the currency, you'll note

while you suffer inflation

It's not consequence-less

And it's because the utility of the currency lowers

the US dollar used to be good for gold, now i can redeem it for trust in God 😂

But if you cannot expect your currency to be commonplace, for its acceptance to be assumed, then it is based on exchange to a standard that is

not saying it's not doing good. I wish I had bought more in 2009 at 1:1 😛

That's why people are trading for it

Bitcoin is only as valuable as what you can buy with it.

a'ight