Im wanting to come up with some great ways to respond when I hear someone say this. What are some things you can say quickly to get them thinking such as:
"Youre right, being backed by something is a bug, not a feature, but there are a few things that make bitcoin valuable..."
- Network. Bitcoin is backed by the most secure network in the known universe.
- Security. Its value comes from its security. The transactions are 100% genuine and impossible to counterfeit.
- Decentralized. Its decentralized meaning no single entity or government can control it. (this is why its not a fiat currency)
- Ownership. Its the one thing in the universe that you can truly own and you can take with you anywhere by memorizing 12 words.
- Supply. The supply of bitcoin is finite and therefore unlike fiat it will never hyperinflate. There will only ever be 21 million.
- Permission. Bitcoin is the ulitmate permissionless store of value, meaning you dont need to ask anyone before you send or receive it.
- Energy. Bitcoin is backed by energy. The source of the energy is moving towards carbon neutral and soon carbon negative by using stranded energy.
- Open Sourced. The sourcecode for the bitcoin protocols are available for anyone to view.
- Freedom. Bitcoin is able to be used by anyone, anywhere regardless of economic status.
- Value. Bitcoin is backed by the sum of its parts which creates infinite value.
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