Post
Topic
Board Economics
Re: "Backing" - what does this actually MEAN?
by
codeneis
on 14/12/2013, 08:32:23 UTC
I have a golden coin burried. A can divide this coin to the number of satoshis that can be mined. But you guys don't know where my coin is and I am to lazy to dig it again.

If someone asks, bitcoin is backed by gold. This sole coin that no one knows where it is.