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RE: DO CRYPTOCURRENCIES NEED BACKING??

in #dtube7 years ago

They need backing by everyday people, but other than that no. People are what creates the value for objects. It's no different then gold, trading cards, or any other collectible/precious metal. The more you can use it every day and the easier people have acess to it the more the value will go up.

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Well stated. People's demand for it create the value.