Post
Topic
Board Bitcoin Discussion
Re: why can't bitcoin be based on something that has value?
by
Dunamisx
on 24/06/2022, 20:46:55 UTC
but bitcoin has weaknesses. you can't deny that. the main weakness being that it is not backed up by something like gold.

Why should bitcoin be backed up? why should gold or any other valuable form of investments stand in for bitcoin? There are somethings that were better left unsaid than saying falasy, the fact remains that bitcoin stands on it own and that's one of the reasons why it remains decentralized, other form of assets are centralized while bitcoin is self dependent on its own, when we go by using another asset to back bitcoin is as saying its value isn't worth it and can't stand without being dependent, this is one of the reasons why bitcoin is a good source of an investment asset and store of value that is incomparable to other digital currency or physical assets.