Cryptocurrency Q&A
What backs a Bitcoin?
What backs a Bitcoin?
DongdaemunTrend
Sat Dec 21 2024
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7
answers
1882
I want to know what backs the value of Bitcoin. Is it backed by any asset or commodity, or is it just based on people's trust and adoption?
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7 answers
isabella_oliver_musician
Mon Dec 23 2024
It does not rely on physical commodities such as gold or silver for its value.
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DreamlitGlory
Mon Dec 23 2024
Unlike traditional fiat currencies, it also lacks the backing of governments or central banks.
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KimonoGlitter
Mon Dec 23 2024
The value of Bitcoin stems from a different source entirely.
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ShintoSpirit
Mon Dec 23 2024
Bitcoin stands as a unique entity in the realm of currencies.
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CryptoPioneer
Mon Dec 23 2024
It is rooted in the widespread trust that individuals place in its security.
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