Paper USD is backed by something though isn't it? It's backed by the US Govt. It... | Hacker News

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		2OEH8eoCRo0 on March 8, 2021 \| parent \| context \| favorite \| on: Bill Gates Says that Bitcoin is bad For the Planet Paper USD is backed by something though isn't it? It's backed by the US Govt. It's backed by the USG guaranteeing they will accept it. Crypto ain't even backed by that.

mr_woozy on March 9, 2021 [–]

It's a misrepresentation, but you're on to something. Crypto is also backed in addition by all the other network participants willing to transact in crypto. which scales log with number of network participants.

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