• ZoteTheMighty@lemmy.zip
    link
    fedilink
    English
    arrow-up
    1
    ·
    4 hours ago

    As opposed to the USD, which is backed by nothing, and therefore has no underlying value, but is not gambling for some reason?

    • arandomthought@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      23
      ·
      4 hours ago

      The USD is backed by a state who demands their taxes be paid in their currency, ensuring there will always be demand for said currency.

      • underisk@lemmy.ml
        link
        fedilink
        English
        arrow-up
        2
        ·
        2 hours ago

        This is also why people who complain about how “our tax dollars” are spent are missing the point. Their tax dollars don’t fund the government or any of its activities. Taxes are just an inflationary control measure; money is created when the government spends it.