Nicro@kaia Fiat indexes are usually backed by reserves of (internationally) valuable resources. Putting aside if gold is a good choice for that. You can also back something by the availability/demand of oil, or the price of potatoes, or the profit of a company. But those are tangible things. Bitcoin is like Art, in that it's demand is only sourced by it's popularity. And Bitcoins availability is directly linked to mining difficulty. Might make a detailed post once I have a higher limit.
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