What is bitcoin backed by?

[icoprofits]

Bitcoin is backed by algorithm  and mathematical coding as well already know we have limited supply 21 million dollars

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[websoftwareengineer]

People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 

Yes, I agree with you. Bitcoin is backed by the people investing in it. The price of any cryptocurrency is highly influenced by the people holding it known as its community. This is truer in the case of Bitcoin. There are many cryptocurrencies being launched every day but Bitcoin is still ruling the cryptocurrency market. This is mainly because Bitcoin enjoys great support from its community.

No matter how many times bitcoins will be announced as dead, bitcoins will still grow because the market prices are volatile so you can always assure that you will be earning profit depending on the season.

[anushkasachith888]

Bitcoin is backed by people and the awesome blockchain technology. a small number of people who rules the world with an unfair system only don't like bitcoin and blockchain technology. because they won't be able to exploit people like with this new decentralized ecosystem.

[frankiemalton]

Here is what I personally believe ALL currency (credit cards, cash, crypto) is backed up by.

[anntlevel]

If you are getting so surprised with current prices, what you will do when prices go to a million or above per bitcoin.

For that time, keep your patience under controlled? Are you saying this seriously? I think this isn’t right thing to do. You should keep yourself updated with almost recent information. And this information explains us to become stable and patience for a specified time. You can’t become patient for so long time that leads you to hold your coins for five or six years.

[Elexsis]

If you are getting so surprised with current prices, what you will do when prices go to a million or above per bitcoin.

For that time, keep your patience under controlled? Are you saying this seriously? I think this isn’t right thing to do. You should keep yourself updated with almost recent information. And this information explains us to become stable and patience for a specified time. You can’t become patient for so long time that leads you to hold your coins for five or six years.

If you have a decent job you can actually hold until when you are going to sell your coin and it doesn't matter if it takes years because it is his/her own decisions to do if something happens. It is important to be updated on the market for you to know if the prices are changes to what exactly it will become after you brought the coin that time

[dobladonadouble]

Basically, bitcoin is backed by blockchain technology. But if you will see thru it, mainly, we all backed bitcoin. Bitcoin technology actually depends on the people, instead of some specific organisation, country or an economy. It centers and circulates with us, the users of bitcoin.

[checkmatesir]

People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 

Yes, I agree with you. Bitcoin is backed by the people investing in it. The price of any cryptocurrency is highly influenced by the people holding it known as its community. This is truer in the case of Bitcoin. There are many cryptocurrencies being launched every day but Bitcoin is still ruling the cryptocurrency market. This is mainly because Bitcoin enjoys great support from its community.

No matter how many times bitcoins will be announced as dead, bitcoins will still grow because the market prices are volatile so you can always assure that you will be earning profit depending on the season.

That is very normal and we are observing sch activities from people for a long long time, but I am also sure that such false news will not bring any effect on bitcoin. In fact people are giving a very good support to bitcoin which is making bitcoin more and stronger.

[laracastvue]

bitcoin is supported by people who like bitcoin, if bitcoin does not support it maybe bitcoin will die and not worth it, investor support, shareholder is so necessary that bitcoin will not die forever

Yes you are right, the only reason for bitcoins to die is that no one will be interested on investing on it and that is the only way for bitcoins to dump in the market.

[fauzan Ichsan]

bitcoin is supported by people who like bitcoin, if bitcoin does not support it maybe bitcoin will die and not worth it, investor support, shareholder is so necessary that bitcoin will not die forever

Yes you are right, the only reason for bitcoins to die is that no one will be interested on investing on it and that is the only way for bitcoins to dump in the market.

[10BTCaDay]

Bitcoin is supported by people who believe in it and plus a lot of HYIP around this topic, and this whole situation is moving to a logical outcome.

[arbifahrozy]

People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 

I agree with you who say bitcoin has an effect on ourselves. whether it is up and down is the impact of various issues and the information we capture as emotions and can cause prices to rise and fall fluctuatively

[kiedis]

Bitcoin is backed by people - miners who invested in their computers, people who buy Bitcoin beveling it will be a key asset in the future. It is not a group of geeks anymore, it is a huge business.

[parapencariuang]

People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 

of course bitcoin is supported by many people, if it is not supported maybe bitcoin will not deliver the highest prices like last year. and I'm also sure those who hold bitcoin have confidence that next year bitcoin will reach a high price even more than the previous year. so we only need time to be patient until the time comes, don't be tempted by uncertain news. because that will only cause panic

[Lorin]

Bitcoin is nothing if no one support it. Many people are enage in bitcoin and  believe that it will help them in different way. Investors  are the one who support bitcoin because they can get a good profit on it. Do not rely those news that against bitcoin it will not help you to success instead it will fall you down.

[AncientMystery]

Bitcoin is backed by technology, its name and by the fact that people are ready to buy it for todays price, that's enough in my opinion.

[Ucy]

It is backed by Immutable data, backed by Truth, Censorship resistance, Transparency, Miners, and most importantly the Community. To be honest, these values are worth more than shiny gold, silver or diamond... and far more than fiat.

Most important thing is that Bitcoin cannot be printed out of thin air like government controlled currencies. That to me, is one of the most important value.

[netto7]

Bitcoin is backed by people, energy and time.

with  trust and electricity bill

[iMark]

If you are getting so surprised with current prices, what you will do when prices go to a million or above per bitcoin.

For that time, keep your patience under controlled? Are you saying this seriously? I think this isn’t right thing to do. You should keep yourself updated with almost recent information. And this information explains us to become stable and patience for a specified time. You can’t become patient for so long time that leads you to hold your coins for five or six years.

If you have a decent job you can actually hold until when you are going to sell your coin and it doesn't matter if it takes years because it is his/her own decisions to do if something happens. It is important to be updated on the market for you to know if the prices are changes to what exactly it will become after you brought the coin that time

if you already have a steady income other than crypto, of course you have no problem holding a few years of the coins you have, besides that bitcoin is not backed up by anyone, including the government, is it worthed to put a lot of money in crypto and then leave it for a few years?

[hastag_80]

People believe bitcoin is backed by nothing. I think that is not the truth. I believe bitcoin is actually backed by people themselves. It is backed by none other than just you. We all witnessed the price has been fluctuating by all those FUDs and bad news. The price changes by emotion and non logical facts. I believe you hold bitcoin no matter what happened and would happen, and believe it is backed by all of us, it would make a history. 

Will every people or investor have a different opinion about what happen of bitcoin in the future and everyone of us are entittled to express our own opinion,otherwise  i believe that bitcoin would not going back for nothings or turn back to zero,because of this only a small chaos thats we encounter now,i know thats there some expert in cryptocurrency woulds estabilize this bloodish market now,and turning back those prosperity moment of digital currency,because i believe the legacy of cryptocurrency is still continue to moving forwards to create a  world cashless society.