- Location
- South Wales UK
Or lost it possibly?Forgive my occasional confusion between inherent and intrinsic.
However, you did say " the only thing making a pound/euro/dollar worth anything more than toilet paper is the fact that people believe other people would accept it as payment. That's it!! " which is not true for the reasons I outlined.
'Notes' would be worth less than toilet paper when they are all made of polymer. Not good for posteriors at all. But as long as they are 'backed' by responsible institutions, they will be a reliable long term currency.
The difference being that [at least in theory] the bank issuing currency holds its capital value whereas the capital in Bitcoin is held by those who have sold it.