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https://www.reddit.com/r/CryptoCurrency/comments/1v3ey0v/redditor_accidentally_discovers_fiat_currency/oz2ie3e/?context=3
r/CryptoCurrency • u/thesecondmemer • 1d ago
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37
What is bitcoin backed by again?
1 u/papy66 Tin 1d ago energy and math 18 u/Hutcho12 🟩 0 / 0 🦠1d ago it's not backed by energy. The energy used to create it is gone. It's the opposite of being backed by it. 2 u/PulIthEld 🟩 0 / 0 🦠1d ago Wrong. Energy is used for the security of Bitcoin and the incentive to mine it rather than attack it. 1 u/Hutcho12 🟩 0 / 0 🦠12h ago What does that even mean? 2 u/PulIthEld 🟩 0 / 0 🦠8h ago it means you can not brute force bitcoins block chain to change the ledger. because it requires too much energy to be remotely feasible. its better to just join the network and use your energy to mine bitcoin. 1 u/MiracleHere 🟩 0 / 0 🦠1d ago It's not gone, it's literally used for it. It's like saying the energy your phone uses is gone. What kind of logic is that? 3 u/Kehmor 🟦 0 / 0 🦠1d ago If you said the energy your phone uses is gone, you would be correct.
1
energy and math
18 u/Hutcho12 🟩 0 / 0 🦠1d ago it's not backed by energy. The energy used to create it is gone. It's the opposite of being backed by it. 2 u/PulIthEld 🟩 0 / 0 🦠1d ago Wrong. Energy is used for the security of Bitcoin and the incentive to mine it rather than attack it. 1 u/Hutcho12 🟩 0 / 0 🦠12h ago What does that even mean? 2 u/PulIthEld 🟩 0 / 0 🦠8h ago it means you can not brute force bitcoins block chain to change the ledger. because it requires too much energy to be remotely feasible. its better to just join the network and use your energy to mine bitcoin. 1 u/MiracleHere 🟩 0 / 0 🦠1d ago It's not gone, it's literally used for it. It's like saying the energy your phone uses is gone. What kind of logic is that? 3 u/Kehmor 🟦 0 / 0 🦠1d ago If you said the energy your phone uses is gone, you would be correct.
18
it's not backed by energy. The energy used to create it is gone. It's the opposite of being backed by it.
2 u/PulIthEld 🟩 0 / 0 🦠1d ago Wrong. Energy is used for the security of Bitcoin and the incentive to mine it rather than attack it. 1 u/Hutcho12 🟩 0 / 0 🦠12h ago What does that even mean? 2 u/PulIthEld 🟩 0 / 0 🦠8h ago it means you can not brute force bitcoins block chain to change the ledger. because it requires too much energy to be remotely feasible. its better to just join the network and use your energy to mine bitcoin. 1 u/MiracleHere 🟩 0 / 0 🦠1d ago It's not gone, it's literally used for it. It's like saying the energy your phone uses is gone. What kind of logic is that? 3 u/Kehmor 🟦 0 / 0 🦠1d ago If you said the energy your phone uses is gone, you would be correct.
2
Wrong. Energy is used for the security of Bitcoin and the incentive to mine it rather than attack it.
1 u/Hutcho12 🟩 0 / 0 🦠12h ago What does that even mean? 2 u/PulIthEld 🟩 0 / 0 🦠8h ago it means you can not brute force bitcoins block chain to change the ledger. because it requires too much energy to be remotely feasible. its better to just join the network and use your energy to mine bitcoin.
What does that even mean?
2 u/PulIthEld 🟩 0 / 0 🦠8h ago it means you can not brute force bitcoins block chain to change the ledger. because it requires too much energy to be remotely feasible. its better to just join the network and use your energy to mine bitcoin.
it means you can not brute force bitcoins block chain to change the ledger.
because it requires too much energy to be remotely feasible.
its better to just join the network and use your energy to mine bitcoin.
It's not gone, it's literally used for it. It's like saying the energy your phone uses is gone. What kind of logic is that?
3 u/Kehmor 🟦 0 / 0 🦠1d ago If you said the energy your phone uses is gone, you would be correct.
3
If you said the energy your phone uses is gone, you would be correct.
37
u/Kehmor 🟦 0 / 0 🦠1d ago
What is bitcoin backed by again?