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Based on your vernacular, youre obviously an intelligent and sophisticated person. So, why dont you enlighten us by regaling us with your views on what Bitcoin is backed by then?
It took me awhile to figure out that you just enjoy trolling as I don't frequent the sections you post in but I will answer your questions.
BTC is backed by the work it to to create it, it is (practically) impossible to create more of it without putting more work into it than you could recover therefore making it a excellent store of value.
Oh, please try to answer with more than just parroting back the scarcity argument. That argument is a myth for anything that can be created on a computer because anything thats coded can be changed at any point by a nefarious actor.
There is no way your random mystical nefarious actor can change the blockchain, it would take a state actor like china and I have been warning about that for quite some time. People forget that china is a totalitarian society that sets what it's own currency is worth and they can take possession of all that equipment in one fell swoop. But I cannot see where this would be advantageous to them currently but anything can happen in a dictatorship.
BTW I am not a btc maximalist and believe crypto should free mankind not the opposite and open blockchain tech has the ability to do just that. Hence my XMR support.
I am
https://en.wikipedia.org/wiki/Cypherpunk