Bitcoin is Not Backed by Anything (And That’s OK!)

By October 21, 2014Bitcoin Politics

Bitcoin is Not Backed by Anything (And That’s OK!)

Bitcoin is Not Backed by Anything (And That’s OK!) Whenever you hear, “That currency is not backed by anything!,” it’s almost always meant as criticism. Hard-money enthusiasts are quick to point out the horrible track record of fiat currency. Nearly without fail, currencies “backed by nothing” get heavily devalued through inflation, and they often collapse within decades.

The best solution, so far, has been to tie currency to a commodity whose supply can not be […]

Leave a Reply

All Today's Crypto News In One Place