[coralreef]

You misuse the word “backed”. The US economy does not “back” the dollar, figuratively or literally.

America, it’s workers, corporations, military, etc., will happily abandon the dollar should it become necessary. No one wants to be paid in money undergoing massive devaluation.

[As_You_Wish]

I'm not misusing the word "backed." I'm assuming some sophistication from the reader.

And to that point, it is true that nothing backs the dollar, but nothing backs nothing if you go down that road.

In past times, when, let's say a city was being attacked and there's a seige, and food runs out, people will sell their $500,000 diamond ring for a potato, so diamonds and gold have no value as compared to a potato.

However, if a meteor like the one that hit the earth 65 million years ago and wiped out the dinosaurs, hits again and wipes all of humanity out, there is no "back" of any currency anywhere.

I mean, if you're going to go down that road, let's take it to it's conclusion.

However, in the everyday world, the US dollar has a lot behind it. Like a huge military. No country is going to come in and take over the USA and throw out our money. Because we have a big military. There's a lot of trade going on with greenbacks. It is the world currency.

I'm not saying it is impossible for the dollar to go down the tubes, please don't assume I'm that stupid, nor anyone else is.

But there's a hell of a lot more reasons to stick with US dollars as a store of value, rather than bitcoin. Bit coin has got nothing, just a bunch of narcoterrorists and billionaires trying to smuggle out ill-gotten gains so they don't have to pay taxes. And the speculators working from the greater fool theory.