Nothing. Bitcoin is the ‘thing’ that is doing the backing just as gold is the thing.
Both are portable, durable, recognizable, divisible, fungible & scarce. Bitcoin is also transmissible.
That’s why gold and BTC are money, not currency.
BitcoinMendocino on Nostr: People ask “What is backing #bitcoin ?” Nothing. Bitcoin is the ‘thing’ that ...
People ask “What is backing #bitcoin ?”
Nothing. Bitcoin is the ‘thing’ that is doing the backing just as gold is the thing.
Both are portable, durable, recognizable, divisible, fungible & scarce. Bitcoin is also transmissible.
That’s why gold and BTC are money, not currency.
Nothing. Bitcoin is the ‘thing’ that is doing the backing just as gold is the thing.
Both are portable, durable, recognizable, divisible, fungible & scarce. Bitcoin is also transmissible.
That’s why gold and BTC are money, not currency.