One interesting thing that may not be obvious, is that this is actually true of regular "fiat currencies" like dollars and euros. If people lose faith in those, the same loss of value can occur. You can see this today in countries that have hyperinflation, where the residents begin to use currencies from other countries as a medium of exchange in preference to their country's currency. Essentially fleeing their native currency for a fork that is perceived to be safer.
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I was going to say something similar, tbh.. the only difference being whatever government exists might back the currency.. rather than code.. but then they can't really control inflation..
but then, a Government is often only as valid as the faith the people put into it..