Based on thin air

submitted by Mnemonic from (i.imgur.com)

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[–]Arcon97 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (5 children)

Yes, Nixon did take the US off the gold standard and while it is fiat money, the currency is backed by the US Government.

What backs Bitcoin?

[–]Mnemonic[S] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Transparency and voluntary trust from all the people over the world using it.

[–]JasonCarswell 1 insightful - 3 fun1 insightful - 2 fun2 insightful - 3 fun -  (0 children)

But that's not how the monopoly on violence works!

[–]Snow 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Elites.

[–]JasonCarswell 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

Bitcoin has the largest virtual military on the planet.

All those video games are not for nuthin.

[–]danuker 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Chinese miners, and other buyers of cheap electricity.

[–]cant_even 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Tulip-coin is one sentence in the Federal Register and three mouse-clicks at the Treasury Department away from "money-laundering". And for all the bloviating about 'Privacy - bypass the Government', it absolutely depends on the Government-monopoly Internet to function.