Well I'm just trying to work out from a poor definition that you also cite, what it means. You say "not commodity", I say nothing has "intrinsic value".
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U aren't speaking economics. U are using ur own definitions. I don't think u realize this.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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"Backed" is a very specific financial term. Energy isn't deposited into a vault and a Bitcoin isn't an IOU -- you can't uncreate a Bitcoin and get the energy back
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Bitcoin is more similar to fiat than gold-backed currency in this regard.
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When people are heating their homes from the energy from their mining units, can we then say it is energy-backed?
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U can say it all u want but it has no meaning other than what u ascribe it to mean.
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Ok, i tried to answer your question. It’s direct tie to energy (however you want to describe it) was my take. FWIW I have an economics degree and have worked in finance and trading for years..
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U have have an economics degree and u don't know the definition of fiat?
End of conversation
New conversation -
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