[mam4]

Since the end of the Gold Standard, the value of ANY currency is only based how much other people accept to give you in exchange. That's why you see half of the thirld world countries currencies dropping, in particular, faster than bitcoin drops. And this is why it is so popular in these countries.

[sporkland]

"the value of ANY currency is only based how much other people accept to give you in exchange"

Wasn't that mostly true for gold as well? (Unless you wanted to make jewelry out of it, low utility high status signaling)

[notch656a]

Jewelry is almost 40% of the demand for gold. Industry is like 7%. The idea that gold has low utility outside of speculative investment needs to die.