How The Qualities Of Bitcoin Baffle Nocoiners
One of the most common criticisms from nocoiners remains, “But bitcoin isn’t backed by anything.” This criticism targets bitcoin’s dearth of a quality that I term “correlated-redeemability.” The most common rejoinder to this criticism is, “Your U.S. dollar isn’t backed by anything either.” The problem with this factually correct response is that it misses a deeper point.
