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Title: What are bitcoins backed by? Post by: JohnZohnson on January 17, 2018, 07:46:39 AM Bitcoin is getting more and more attention, how can it become popular and what are bitcoins backed by?
Title: Re: What are bitcoins backed by? Post by: QiangChia on January 17, 2018, 07:51:33 AM bitcoins are not backed by any physical asset, bank, or government.
Instead, they are backed by math, cryptography, and a public distributed network with a mathematical process that takes a variable amount of data and produces a shorter, fixed-length output. Title: Re: What are bitcoins backed by? Post by: marjon on January 17, 2018, 08:29:15 AM Bitcoin is backed by nothing other than the ever advanced blockchain technology and Internet of course. It is continually evolving until almost of the companies will adopt this kind of system soon.
Title: Re: What are bitcoins backed by? Post by: bitfools on January 17, 2018, 08:32:29 AM Bitcoin is getting more and more attention, how can it become popular and what are bitcoins backed by? Why didn't they tell you?? Bitcoins are backed by bullshit, but the full faith and credit of a worldwide consortium of con-artists and crooks Their only problems is getting newbs to join the club, but really its a PYRAMID scam, where early birds have already got all the worms, and now its a pyramid-scam that has blown its top, and now of course everybody wants out, but nobody can get out, oh yep, they'll blame the gov and say they closed the exchange, or they'll blame russia/china for 'banning NSA coin' Move along, Title: Re: What are bitcoins backed by? Post by: mondobitcoin on January 17, 2018, 10:19:53 AM Bitcoin is backed by gold, of course i'm joking ;D
Bitcoin is backed by all of us, and by miners, that make all the "work", and for people that say that bitcoin is only a ponzi/pyramid is not true, they can back to deposit their money in the bank |