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71 sats \ 1 reply \ @ek 6 Sep 2023 \ on: Bitcoin is not backed by anything. And that's alright. bitcoin
That gold has a monetary premium is a bug, not a feature.
Money does not have to and should not be used for different purposes
Using commodities as currency prevents them to use them for their "actual purpose"
Bitcoin is only not backed by anything if you're ignorant. It's backed by the most secure computer network ever created.
Or as mentioned in your post:
In a sense, if Bitcoin is backed by anything, it’s backed by the strength of clever mathematics.
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1 sat \ 0 replies \ @iguano 6 Sep 2023
It's backed by the most secure computer network ever created.
And millions of people who believe and thrust on that network.
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