What backs up this faux currency?
The same thing that backs up every other currency.
I got interested from reading the various threads here and seeing an interview with U.S. Senator Cynthia Lummis of Wyoming on Barron's (
https://www.marketwatch.com/video/c...B870B0A-20A4-4F57-B374-5AA5684A6CC0.html). She recommended two books, The Bitcoin Standard and Layered Money. I read The Bitcoin Standard and found it interesting. The author is a bit too rah rah on Bitcoin as THE digital money, but it was an interesting book nonetheless. I would especially be interested in the gold bugs' take on the ideas expressed in the book.
I am just a dabbler at this point and would not risk money that I am not willing to lose.
