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submitted 2 weeks ago by [email protected] to c/[email protected]

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Unsurprisingly, he and his family were doxed by angry traders.

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[–] [email protected] 11 points 1 week ago (1 children)

Money is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else.

As such, money coined by a state has an inherit value as long as the state is stable.

[–] [email protected] 1 points 1 week ago

And said state has both an interest in the stability of the currency as well as tools to influence it that are not available to everyone.