And wallah just like that eth is backed by nothing

and wallah just like that eth is backed by nothing

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it was never backed by anything

>backed by
you niggers have to learn what this phrase means. yes, PoS was a terrible mistake, but that doesn't mean bitcoin is "backed by" electricity. fucking retarded.

bitcoin is backed by the work electricity does. it's called hashrate. PoSers don't understand that a bitcoin costs something to produce and an ETH doesn't. also buy litecoin it'll go up now that eth fucked itself.

>kills itself in your path

that is part of the reason why bitcoin has value, yes, but it is not "backed by" energy. you can call me pedantic but really you're just a retard.

even fiat costs something to produce regularly theres a reason why counterfeit is investigated by the SS

But but but but but but but but MUH infinite halvening!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!555

>nothing in the world is backed by anything except that value which people ascribe to it, precious metals, fiat money, and barter items alike.

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>fiat costs something to produce
nigger that's partially true, but they can print infinite fiat and that cost would be meaningless. infact they will when they go full CBDC

how? its backed by all the projects, networks and applications built on it
entire DAOs deposit ETH in their treasuries as back up to the point where some like Bitdai even have almost 260k ETH in their treasury, which makes up something like 25% of it

It's backed by validators you tards, same as ADA

>backing your currency with literal toxic waste
Yeah, sure, whatever. Better than the petrol dollar.
Anyways, ethereum backs it’s own stablecoins, hosts it’s own exchanges and burns washtraders.

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It’s “voila” you illiterate imbecile.

Go back faggot

there is literally zero fucking relationship between the value of something and the amount of work needed to produce it, you absolute fucking retarded zoomer cryptoshit fuckface

What an absolute fpbp

>PoS was a terrible mistake
wrong
>backed by work
communist retard detected

This.

what is work backed by?

>and wallah just like that eth is backed by nothing

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