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Next time someone tells you bitcoin is backed by nothing...

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Im wanting to come up with some great ways to respond when I hear someone say this. What are some things you can say quickly to get them thinking such as:

"Youre right, being backed by something is a bug, not a feature, but there are a few things that make bitcoin valuable..."

  1. Network. Bitcoin is backed by the most secure network in the known universe.
  2. Security. Its value comes from its security. The transactions are 100% genuine and impossible to counterfeit.
  3. Decentralized. Its decentralized meaning no single entity or government can control it. (this is why its not a fiat currency)
  4. Ownership. Its the one thing in the universe that you can truly own and you can take with you anywhere by memorizing 12 words.
  5. Supply. The supply of bitcoin is finite and therefore unlike fiat it will never hyperinflate. There will only ever be 21 million.
  6. Permission. Bitcoin is the ulitmate permissionless store of value, meaning you dont need to ask anyone before you send or receive it.
  7. Energy. Bitcoin is backed by energy. The source of the energy is moving towards carbon neutral and soon carbon negative by using stranded energy.
  8. Open Sourced. The sourcecode for the bitcoin protocols are available for anyone to view.
  9. Freedom. Bitcoin is able to be used by anyone, anywhere regardless of economic status.
  10. Value. Bitcoin is backed by the sum of its parts which creates infinite value.
submitted by /u/Electrical_Fix_8745
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