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.
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, November 30). 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
Children playing with stacks of hyperinflated currency during the Weimar Republic, 1922. (2014, June 16). RareHistoricalPhotos. https://rarehistoricalphotos.com/hyperinflation-weimar-republic-1922/
Clark, J., & Whitbourne, K. (n.d.). How much actual money is there in the world? https://money.howstuffworks.com/how-much-money-is-in-the-world.htm
Cooperation and reconstruction (1944–71). (n.d.). International Monetary Fund. https://www.imf.org/external/about/histcoop.htm
Gobry, P.-E. (2013, January 8). All Money Is Fiat Money. https://www.forbes.com/sites/pascalemmanuelgobry/2013/01/08/all-money-is-fiat-money/#6be60aae3dd5
Hyperinflation. (n.d.). https://en.wikipedia.org/wiki/Hyperinflation
Is Bitcoin a Fiat Currency? Why? or Why Not? (n.d.). Cryptalker. https://cryptalker.com/is-bitcoin-a-fiat-currency/
Money Stock and Debt Measures - H.6 Release. (n.d.). The Federal Reserve System. https://www.federalreserve.gov/releases/h6/current/default.htm
Rowlatt, J. (2013, December 8). Why do we value gold? https://www.bbc.com/news/magazine-25255957
The Bretton Woods system. (n.d.). https://www.gold.org/about-gold/history-of-gold/bretton-woods-system
Why is gold so valuable? (2013, May). https://sciengsustainability.blogspot.com/2013/05/why-is-gold-so-valuable.html
💌 Subscribe to my newsletter
(related to science, technology, biology, and other nerdy things)!
Check out past editions.