Critics love to say it: “Bitcoin isn’t backed by anything!” As if this is a devastating critique. As if being “backed” is the hallmark of sound money. Let’s examine what these critics mean, and why they’ve got it exactly backwards. They’re asking the wrong question entirely. Gold-backed money failed. Fiat money is “backed” by government […]
The Value Of Bitcoin Is Not Its Price Watch financial news and you’ll see Bitcoin’s price displayed prominently—up 10%, down 15%, volatile and unpredictable. Commentators fixate on these numbers, declaring Bitcoin valuable when prices rise and worthless when they fall. This obsession misses the point entirely. The value of Bitcoin is not its price. Price […]
Bitcoin Is Money Without Borders Money has always been bound by geography. Dollars work in America. Euros work in Europe. Yen work in Japan. Crossing borders means currency exchanges, wire fees, bank delays, and regulatory hurdles. The system treats money like it treats people—subject to passports, visas, and border controls. For businesses, this means higher […]