Bitcoin and all other cryptocurrencies don't have a value assigned like normal currency. That means you almost never pay in bitcoin but in the bitcoin trading value of some currency. Instead of $5 you pay the current trading value of $5 in bitcoin. That is why it doesn't work as a currency and people are complaining about how they struggle with crypto volatility. No one really thinks about how many bitcoins they have just how much that is worth in "real" money.
At least gold is a physical good that has some use. I don't like gold speculations but bitcoins are literally just bits in a distributed database. But that is not even the problem. Most money is digital. The problem is the acceptance. It's primary use seems to be just trading it back and forth without trading it for goods.
They are bits that are cryptographically true and unique. It may not be tangible but now we are getting into philosophy of mathematics and whether math is real or not?
I believe in math therefore I believe in cryptography.
Bitcoin behaves exactly like a fiat currency would if driven completely by market forces. It's a good thought experiment in what the exchange rate would look like if the currency value is purely derived from demand and supply.
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