GOOD AFTERNOON
BITCOIN IS BACKED BY THE LARGEST COMPUTING NETWORK ON EARTH, WHICH CONSUMES ENERGY
SO ITS BACKED BY ENERGY
Discussion
Buenas tardes Tuvok 🫡☕
GOOD AFTERNOON, TUVOK!
GOOD AFTERNOON!
BUT STILL FAR FROM DRAINING ALL THE ENERGY IN THE GRID!
Good Moaning Mr Vulcan. I'm amazed I haven't crashed it. I'm good at breaking computer stuff
GA have a great Friday 🧡
It’s nice when Bitcoin pumps…we get bullish posts like this lol 😂
its just a statement because of some other conversation i had
GM Tuvok
Yes, thats it. Few understand that yet outside the Bitcoin bubble. But they will someday.
GA! Enjoy your day!
Good Morning Tuvok. It's the end...
of the beginning!
GOOD AFTERNOON
STAY HUMBLE AND STACK ZAPS ⚡️
GM
Good afternoon
good afternoon!
Good Afternoon Tuvok!
Apparently even in 2025 people think that's the problem of BTC using so much energy
Even gold is backed by energy. The mining, melting etc. of gold costs energy. This is, what you are finally paying for.
good afternoon 😊💜💜💜 spread love 💜
i will do
🧡 💜 🌞
hope you will have a great weekend
GA! PV!⚡️⚡️⚡️⚡️
I can't believe this has so many likes, apparently none of you know what a currency being "backed by" something means.
A currency is "backed by" whatever the issuer guarantees you can trade it for.
so Bitcoin is backed by Bitcoin
the dollar is backed by energy (mainly oil, this is why it's called the petrodollar)
it's retarded how I've seen people on nostr say commies don't understand economics, but none of them are here to explain what a currency being "backed by" something means, and the only one here that did offer an explanation is me, a commie
i dont get your point...
could you try other words ?
Hard to tell what words would work for you without more explanation of where you're getting confused
i am not a commie
i just offered a answer to the question
what is bitcoin backed by? mainstream answere: backed by nothing
i wouldnt say this is true
where is you explanation and why you are a commie ?
I see what was confusing now - I had 2 replies, this one was talking about my other one.
Bitcoin isn't "backed by" energy because the way a money is issued isn't what backs it, whatever you're offered to trade for it by the issuer to make you use it is what backs it.
I'm a commie because I'm not a money fanatic
okay,
"whatever you're offered to trade for it by the issuer to make you use it is what backs it."
you mean the value derives from the trade with other goods!?
yes you could also say that
the "backed by" and "intrinsic value" are mostly similar arguments, i would say
i could also say nothing is backed by anything
maybe only the human condition is governed by the natural laws
but i am making to many points here
I mean a currency is backed by something if the issuer offers it to trade to back the currency
The dollar used to be backed by gold because the US issuing it would trade gold for it
okay now i get your point
the the dollar is also not backed by anything at this point in time
i only made the point because the FUDers would tell that bitcoin isnt backed by anything BUT they dont tell you that other currencies are also not backed by something. they would leave the taste that only bitcoin is bad and other currencies are not...
the dollar is even worse because the closest thing it has to a backing now is gasoline... which we burn lol
GA Tuvok !!!
💪
Good afternoon
⚡⚡⚡
GA Tuvok 🧡 have an awesome day brother🙏
Bitcoin was literally predicted by Henry Ford.
Truth Tee 
looking very great
Respect Bro. We be doing our ‘bit’. These chaps are planning to spin up a node and plug a couple of Bitaxe Gammas into the network… more power! https://video.nostr.build/fa3daa93974a58508408fe94df558a7e2d29793fe7d3e6b5a593b35e5b442078.mp4