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Doubtful, USD is used elsewhere because it is the currency of the largest trader in the world. Especially considering the fact that most USD isn't physical, how would you trust digital dollars without the accounting system in place today?

Gold also has no intrinsic value. Sure it has some industrial applications, but everyone is getting around fine with very small amounts of it. But no one doubts that gold has value.

Market value is determined by demand, not who backs it.

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