It’s true that cryptocurrencies are not backed by physical assets or government guarantees. But that doesn’t mean they’re “backed by nothing.” They are supported by:
- Advanced cryptographic and blockchain technology
- A decentralized system of users and validators
- Transparency and security
- Widespread adoption and usage
This is comparable to fiat money – just based on a different type of trust: not in a government, but in technology and collective participation.
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