Post
Topic
Board Economics
Re: "Backing" - what does this actually MEAN?
by
pand70
on 16/12/2013, 09:40:42 UTC
Backing= guarantee of future exchange value

BC, needs a guarantee of its future exchange value.

As it has none, it cant be money.

Obviously you mean guarantee by a central authority. That's not going to happen ever because bitcoin don't wants that to happen.
You see bitcoin with fiat currency standards thats why you can't understand basic things.