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by mode80 1292 days ago
You would have an immediate market for them since dollars are the only legal way to pay your taxes. Since everyone must do this, it creates a kind of Schelling point such that everyone defaults to using dollars for everything else also.

If you produce something of value in return for Bitcoin, you must still acquire dollars to pay your taxes. If you refuse, men with guns will escort you to jail. That is what ultimately backs Buffet’s preferred currency.