Bitcoin is worthless (but so is your “real” money)

How can Bitcoin have any value? Is Ethereum worthless? Well, yeah! But so are your dollars, euros, yens. Money is a weird thing. It is not backed by gold or silver, but by our belief in it.

Disclaimer: I’m trying to convince you to buy crypto. Just putting things into context.

Sources

This video wouldn’t be possible without the work of others. Here are the sources I’ve used during my research & script writing:

Bustillos, M. (2017). You Don’t Understand Bitcoin Because You Think Money Is Real. https://medium.com/s/the-crypto-collection/you-dont-understand-bitcoin-because-you-think-money-is-real-5aef45b8e952

Gobry, P.-E. (2013). All Money Is Fiat Money. https://www.forbes.com/sites/pascalemmanuelgobry/2013/01/08/all-money-is-fiat-money/#6be60aae3dd5

Why is gold so valuable? (2013). https://sciengsustainability.blogspot.com/2013/05/why-is-gold-so-valuable.html

Is Bitcoin a Fiat Currency? Why? or Why Not? Cryptalker. https://cryptalker.com/is-bitcoin-a-fiat-currency/

Cooperation and reconstruction (1944–71). International Monetary Fund. https://www.imf.org/external/about/histcoop.htm

The Bretton Woods system. https://www.gold.org/about-gold/history-of-gold/bretton-woods-system

Clark, J., & Whitbourne, K. How much actual money is there in the world? https://money.howstuffworks.com/how-much-money-is-in-the-world.htm

Money Stock and Debt Measures - H.6 Release. The Federal Reserve System. https://www.federalreserve.gov/releases/h6/current/default.htm

Children playing with stacks of hyperinflated currency during the Weimar Republic, 1922. (2014). RareHistoricalPhotos. https://rarehistoricalphotos.com/hyperinflation-weimar-republic-1922/

Rowlatt, J. (2013). Why do we value gold? https://www.bbc.com/news/magazine-25255957

Hyperinflation. https://en.wikipedia.org/wiki/Hyperinflation