> Why does anything have value? Because someone else will pay your for it.
Sure, but there is a reason why dollars will have value in future: the quantity of outstanding dollar-denominated debt and future tax liabilities vastly exceeds the number of dollars in circulation. As people will need to have dollars for future repayments in future, you won't have trouble finding people to execute a trade of dollars you have for things you want. The [central] banking system can also vary the amount of dollars in circulation to link the supply of a currency on a given day to its demand and keep prices in line.
Conversely there's little reason to believe that anybody will need most of the Bitcoin in circulation in future [very little BTC denominated debt, and all other payments or speculative holding can be made with other currencies, crypto or otherwise], and no other stabilising mechanism. So whilst you can say your BTC is worth at least what you paid for it, it really isn't unless you're lucky enough to find someone else to offload it to.
Sure, but there is a reason why dollars will have value in future: the quantity of outstanding dollar-denominated debt and future tax liabilities vastly exceeds the number of dollars in circulation. As people will need to have dollars for future repayments in future, you won't have trouble finding people to execute a trade of dollars you have for things you want. The [central] banking system can also vary the amount of dollars in circulation to link the supply of a currency on a given day to its demand and keep prices in line.
Conversely there's little reason to believe that anybody will need most of the Bitcoin in circulation in future [very little BTC denominated debt, and all other payments or speculative holding can be made with other currencies, crypto or otherwise], and no other stabilising mechanism. So whilst you can say your BTC is worth at least what you paid for it, it really isn't unless you're lucky enough to find someone else to offload it to.