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Except it isn't parked in any way. The money goes from the hands of the optimistic buyers into the hands of those who decided to cash out just now. The only ass
by john_moscow 9y ago
Except it isn't parked in any way. The money goes from the hands of the optimistic buyers into the hands of those who decided to cash out just now. The only asset "backing" Bitcoin is the people willing to buy it.
- fjsolwmv 9y agoIt's weird to complain that because btc is backed by no set, it it not really worth it's process in USD, which is also backed by no asset. USD is backed by "the full faith and credit of the US government". BTC is backed by the Internet and meme magic.