Reply to post: Re: People's belief in value

A $4bn biz without a live product just broke the record for the amount paid for a domain name. WTF is going on?

Brangdon

Re: People's belief in value

Fiat currencies are backed by laws about legal tender. In the UK if you use sterling to pay off a court-ordered debt or fine, it is considered paid. So (some) people are compelled to accept it (under some circumstances) by the full weight of law. Cryptocurrencies don't have that property: they are entirely voluntary.

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