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My dad called me today and asked “why does Bitcoin even have value?” this was my answer

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Currencies like the dollar have value because powerful governments say that they do.

If the US government said today that the dollar was worthless, nobody would accept it anymore.

Bitcoin works in the exact opposite way.

It's democratized money.

This means that no single country or group has control over it.

If any government says that they don't like Bitcoin, which many have, it doesn't matter.

Bitcoin is decentralized, so there are thousands of nodes and Bitcoin miners all over the world securing the network and making sure that anyone, anywhere can trade Bitcoin.

So while traditional currencies are backed by governments, Bitcoin is backed by the people.

I hope i educated him enough.

submitted by /u/Electrical_Eye_6503
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