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[–]Arcon97 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 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!