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Bitcoin is backed by the businesses built around it.

• redslazer 14y ago
  Nope. If that was the case it wouldnt be worth much at all, considering the lack of business built around bitcoin. I think the value comes from the trust that people place in it and the huge hype that it got during the bubble.
• jl6 14y ago
  Bitcoin is not backed by anything at all, which is part of what makes it such a fascinating experiment, and part of why it is so successful at challenging peoples' assumptions about what money really is.
  • narrator 14y ago
    You can talk about what economics and money really are for years of your life on forums and never get anywhere. It's only by actually doing something like bitcoin that you can actually make a difference. It's a bit like Jon Blow writing Braid to make his point about the immorality of the game industry.