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Bitcoin is backed by an asset with a tangible value that may or may not increase over time. What exactly is Blackjack backed by?

• briatx 9y ago
  Bitcoin isn't backed by an asset. It's not really backed by anything other than people's expectation that it is worth something now (and it will be worth more in the future). This is true even for the miners, since they would not build out infrastructure and burn energy if bitcoin was worth zero.
  • Alex3917 9y ago
    > Bitcoin isn't backed by an asset. It's backed by hash rate, which secures the blockchain.
  • ram_rar 9y ago
    So is Gold!