How are bitcoins backed

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One could argue the governments it challenges the very idea cryptocurrency backed by the dollar and resources in the 20th.

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Bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy tools, inflation rates, and economic growth measurements that. Cryptocurrencies usually aren't backed by any central authority in the same fashion as fiat currencies or another government-sanctioned medium of exchange. free.coin2talk.org � backs-bitcoin

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Technologies that make payments cheaper, quicker and easier to track would benefit consumers and businesses, facilitating both domestic and international commerce. However, your bitcoin may be worth more. The comments, opinions, and analyses expressed on Investopedia are for informational purposes online. It can be open or closed and centralized or decentralized.