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0 pointsRetric3y ago0 comments

Crypto is in no way backed by the dollar. That would imply you could always trade Crypto for some minimum number of dollars after a crash. But as has been demonstrated repeatedly coins can and go to 0$.

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philliphaydon3y ago

Sure, coins can crash and turn to dust. But it doesn't change the fact its value is determined by the dollar. If the dollar crashes, bitcoin has 0 value. No one buys and sells in bitcoin so bitcoin has no real value at the end of the day. It solves no problem.

RetricOP3y ago

People buy and sell crypto in other currencies. It’s possible for the dollar to crash without destroying crypto, though it seems unlikely for the dollar to crash without severe global issues that would likely take down crypto as well.

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0 pointsRetric3y ago0 comments

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philliphaydon3y ago

RetricOP3y ago

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