The U.S. Dollar is the real magic internet money

It is backed by nothing but the word of people who can change its value on a whim. When that value changes, entire industries are affected.

“From 2012 to 2022, investment in private U.S. start-ups ballooned eightfold to $344 billion. The flood of money was driven by low interest rates…

3,200 private venture-backed U.S. companies have gone out of business this year, according to data compiled for The New York Times by PitchBook, which tracks start-ups. Those companies had raised $27.2 billion in venture funding. PitchBook said the data was not comprehensive and probably undercounts the total because many companies go out of business quietly” https://www.nytimes.com/2023/12/07/technology/tech-startups-collapse.html

Bitcoin is backed by a powerful network of miners, and its stable rules are open for everyone to see. It’s something you can build a business, an industry, a society, a life on.