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A comment on Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014). Parent comment

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by john_moscow on Monday December 18, 2017 @02:55PM (#15954867)
Except it isn't parked in any way. The money goes from the hands of the optimistic buyers into the hands of those who decided to cash out just now. The only asset "backing" Bitcoin is the people willing to buy it.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by fjsolwmv on Wednesday December 20, 2017 @09:33AM (#15969800)
It's weird to complain that because btc is backed by no set, it it not really worth it's process in USD, which is also backed by no asset.

USD is backed by "the full faith and credit of the US government". BTC is backed by the Internet and meme magic.

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