What is Bitcoin Backed By??

What is Bitcoin actually backed by? People say it’s magic internet money created out of nothing, backed by nothing, destined to crash to zero. In this video I break down why that’s wrong and what really gives Bitcoin its value.

We’ll cover:
• What “backed by” means when it comes to money
• Why gold was never “backed by” anything either
• How fiat money lost its gold backing and why that matters
• Why Bitcoin doesn’t need backing to be valuable — and why it’s actually superior money

If you’ve ever heard “Bitcoin is backed by nothing” and weren’t sure how to respond, this video is for you.

Timestamps:
00:00 – Why people say Bitcoin is backed by nothing
01:00 – What “backed by” really means
03:00 – How gold and fiat money were backed
07:30 – What backs Bitcoin (and why it works)
12:00 – Why Bitcoin beats other stores of value

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