[jstanley]

> you trust that the country issuing that fiat doesn't default

Doesn't default on what? A dollar isn't a claim on a percentage of the productive output of the USA, it's just a dollar. If dollars aren't worth anything, it's not worth anything.

[labster]

Dollars do have inherent value, because I need them to keep the government from throwing me in prison for tax evasion. That is a very useful property.

[GoblinSlayer]

That's not inherent value, that's a social contract.

[koonsolo]

This is such a stupid argument that keeps being repeated on HN.

People are not obliged to be paid in dollars. This means people could decide to be paid exclusively in some cryptocurrency.

So government collects taxes in dollars... what are they going to buy with that?

[labster]

If the argument keeps being repeated it must have inherent value.