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 moneyIf 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 nothing01:00 – What “backed by” really means03:00 – How gold and fiat money were backed07:30 – What backs Bitcoin (and why it works)12:00 – Why Bitcoin beats other stores of valueValue 4 Value: If you enjoyed this content feel free to zap me some sats via the lightning network:
[email protected] or https://coinos.io/mftabNYKNYC. Buy Bitcoin and withdraw to self custody with Bitcoin Well. Use my referral link for a chance to win free sats: https://bitcoinwell.com/referral/mftabFollow MFTAB: @MFTAB https://x.com/thesatdaddyprimal.net/mftabhttps://www.tiktok.com/@thesatdaddyhttps://open.spotify.com/show/4b58uoQo9Xl7RsbsbbAqAhhttps://podcasts.apple.com/us/podcast/my-favorite-thing-about-bitcoin/id1788973938http://fountain.fm/show/YqXJoHuG6qYRBmDW1k37
