Topic: What is bitcoin backed by? (Read 1965 times)
Hmm it is backed by technology - blockchain, plus it is backed by users who hold a lot of bitcoins. SO it is like a small bank
It is backed by the people, US! We back it up, we say how much it worths and we decide what the price will be. There is no "thing" or a "place" that decides what the price will be or even what the features will be. Even the core developers can create segwit all they want but if the people do not use the chain with segwit and go for the old one, segwit would have died. Basically the importance here is to keep our voices heard and create a decentralized democratic system of economy that would equalize us and treats us no different. Blockchain and bitcoin is backed by the resistance.
i agree with you, I think bitcoin is backed by someone. Maybe he is the biggest investor in this market
For me honestly it's still not clear. I mean pricing a product or service depends on how much it is to produce a product or conduct a service plus an overhead. With crypto currency, i think it is backed up by how much people are willing to pay for it and how much is available in the market.
The simplest way of economics is competently no longer returns in between any of these things. Each one has a price pointed to by the strengths of a supply and demand market. The price of Bitcoin really goes up and sometimes down as people are also saddened by bitcoin value changes, they are faithful to everything in the world.
Bitcoin is backed up by internet!.. hehe kidding aside.. really it was backed up by people who patronize, accept bitcoin, investor, developer and advertizer and bounty campaign without these people I guess bitcoin will not survive the fact that it still here is because of these people. and the success and failure of it is still these..
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. 
Bitcoin back up by secure network and unhackable data transaction. We know that many fake paper money because the security on paper money very weak. Different with bitcoin, bitcoin network very secure and almost unhacked, people can not change data transaction on network
Technically, it is backed by blockchain technology.
Again, blockchain is a decentralized system and worked on the matter of trust from all players involved in. So basically it is backed by every one of us. Everyone that is being involved such as miners (mostly) and then holders.
Again, blockchain is a decentralized system and worked on the matter of trust from all players involved in. So basically it is backed by every one of us. Everyone that is being involved such as miners (mostly) and then holders.
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.
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.Bitcoin is backed by people, energy and time.
with trust and electricity bill
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.
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.
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.
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.
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
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.
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
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.
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.
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.
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