Technically, no currency has any value except what we assign to it. Cryptocurrencies are the same, many people invest in bitcoin. This can change the value of any currency. So, you are right, and wrong. At the same time
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I want what you're smoking plz
"Power lies where men believe it resides. It's a trick, a shadow on the wall." - Varys
Currency only works with a network effect, especially if the thing being exchanged has no intrinsic value outside of being a currency. Given that fiat has no intrinsic value, it just satisfies certain properties of money and is used as such.
Technically Power shifts from time to time . where is it moving to ? Crypto currency is a thing of the future . with the way inventions/creations keep springing up am sure the ULTIMATE COIN will soon be create if it hasn't already .
I was more amused by the phraseology than his point.
But I'm not willing to pick a fight over his point. It's valid indeed.
Hell, maybe I am willing to debate. "What it trades for" is another way of saying popular opinion of value. Popular opinion can be extremely manipulated.