Quote:
Originally Posted by porno jew
one thing i don't get is that most bitards were gold bugs previously and rallied against a currency backed by nothing, but for bitcoin to be backed by nothing is somehow ok now?
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As we concluded above in the thread, any currency is backed by trust and or faith. As long people are willing to trade with it, it exists as a form of money. There is nothing else backing currencies other than people using it. No guaranties that the value you get for a dollar or anything else will be the same in the future (with Bitcoin it maybe possible after most of bitcoins have been produced, the value may start to inflate)