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🇺🇸 US Senator Elizabeth Warren: "With Bitcoin, there's no thing that backs it up. It's just belief."

#Bitcoin: No that's fiat

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#Plebhy

Bitcoin is backed by all the hardware and energy invested in securing the network, so it actually does have real intrinsic value, unlike USD.

That logic doesn’t track tbh. If I have a ton of construction equipment and dig a massive ditch, does that ditch have intrinsic value?

Not the ditch, the land, because you improved it by digging a drainage ditch.

We place value on the things that require the most time and energy to produce.

The metaverse must be worth way more than $13 billion then.

Only if it finds a use case that people actually demand. That's the other half of the equation.