Re:Bitcoin Is Fundamentally Flawed
by zik on Tuesday April 09, 2013 @12:06AM
(#5516389)
> Bitcoin isn't backed by anything.
It's unusual in that it does have a cost of creation - the expense of the machinery and power required to mine a bitcoin. So it does have a "base value" of a sort, you just can't redeem it.
It's unusual in that it does have a cost of creation - the expense of the machinery and power required to mine a bitcoin. So it does have a "base value" of a sort, you just can't redeem it.