How The Qualities Of Bitcoin Baffle Nocoiners
Traditionally, hard money has the two main qualities of autonomy and correlated-redeemability, but bitcoin has the former without the latter.This is an opinion editorial by Rowdy Yates, a former Marine and practicing lawyer. What’s It Backed By?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....
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