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<blockquote data-quote="jimdandy3" data-source="post: 5780119" data-attributes="member: 19788"><p>Incorrect on both. The Dollar and Bitcoin are both backed by faith. The Dollar is worth something because people have faith in the piece of paper. Same with Bitcoin. I can buy things with Bitcoin because of the belief in them. The US does not have trillions of dollars in gold. </p><p>Flipping a switch would mean turning off all computers running Bitcoin Core. That is estimated to be about 20,000 different computers.</p></blockquote><p></p>
[QUOTE="jimdandy3, post: 5780119, member: 19788"] Incorrect on both. The Dollar and Bitcoin are both backed by faith. The Dollar is worth something because people have faith in the piece of paper. Same with Bitcoin. I can buy things with Bitcoin because of the belief in them. The US does not have trillions of dollars in gold. Flipping a switch would mean turning off all computers running Bitcoin Core. That is estimated to be about 20,000 different computers. [/QUOTE]
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