A lot of people fret over the idea that bitcoin is “not backed by anything”. Well, I’m here to tell you that it is. It is backed by my products and services. And it is also backed by the products and services of a bunch of other people. Together we form a market.
Not to worry. There are those of us who value bitcoin as a commodity. We like it for what it is and for what it allows us to do. If the prominent exchanges are taken away from us, we – the users in this small but growing community – will arrive at an exchange value on our own. Come join us, it’s not so bad.
Author’s Note: Please repost this to your website if you accept bitcoin.