The foundation of fiat currency circulation is a stable government~ Essentially, it is a liability of the government to its citizens, and the circulating fiat currency is a debt certificate, similar to an IOU~ When there is a change of regime or the government refuses to recognize it, the IOU becomes invalid~ This situation has occurred frequently throughout history~ This is also one of the reasons why #Bitcoin # gold is valuable~
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The foundation of fiat currency circulation is a stable government~ Essentially, it is a liability of the government to its citizens, and the circulating fiat currency is a debt certificate, similar to an IOU~ When there is a change of regime or the government refuses to recognize it, the IOU becomes invalid~ This situation has occurred frequently throughout history~ This is also one of the reasons why #Bitcoin # gold is valuable~