Similar to fiat currencies, Bitcoin’s value is not backed by a single commodity. Instead the cryptocurrency functions off of a supply and demand system. Two of the biggest factors behind Bitcoin’s value is its complicated mathematical construction and its a limited supply: What Is Behind The Value Of Bitcoin?
Bitcoin was the first currency to operate outside of the control of a single organisation with no reserves backing it. The currency has built an entirely new monetary system through community-run networks as opposed to a single entity driving it.
[link] [comments]
source https://www.reddit.com/r/btc/comments/nqf01b/what_is_behind_the_value_of_bitcoin_comparison_of/
No comments:
Post a Comment