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FriendlyDeers OP t1_ixko5e2 wrote

Reply to comment by SFCPepe in What did FTX do wrong? by FriendlyDeers

But what are the other major coins tied to? I don’t think there’s any gold backing Bitcoin.

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SFCPepe t1_ixkorvl wrote

Currently a few countries recognize it officially, and it is used all around the world for transactions everyday. That gives it a lot of utility. It doesn't have to be tied to gold.

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