What Backs Bitcoin?

Bitcoin is energy backed money.

This is not a new idea, but rather the first fruition of the idea.

Bitcoin is the world’s first decentralized, secure, scarce, permissionless, energy money.

Nikola Tesla and Henry Ford imagined it 100+ years ago.

Energy money, by design, uses energy.

Lots of it.

It’s called proof of work. It’s fundamentally opposite of proof of stake fiat currencies and cryptocurrencies.

Many critics will say Bitcoin "isn't backed by anything" and "has no intrinsic value."

When someone says something has no intrinsic value, when it in fact secures billions of dollars of peoples value and represents the most powerful computer network in the world, they have not done their research.