I 100% don't mean this in a rude way, but, how are you on GAW and don't know this?
The coins are also cryptographically limited in supply. There are currently only 2 million left to be mined between now and 2140—a date which, alone, should tell you just how long the Q plan extends past 2024. Another 116 years still yet to go.
No single person or entity gets to issue bitcoin. They are mined by a global network of computer nodes that anyone can join and contribute to. There is no single point of control or failure.
And they are not created from thin air. They are created by the network brute force guessing the answer to inhumanly complex math puzzles, quadrillions of times per second. The electricity (physical energy) expended to do this is where bitcoin's backing comes from. It requires more energy to mine a single bitcoin block than to pull gold or silver out of the ground.
Who gets to create these magical bitcoins out of thin air ?
I 100% don't mean this in a rude way, but, how are you on GAW and don't know this?
The coins are also cryptographically limited in supply. There are currently only 2 million left to be mined between now and 2140—a date which, alone, should tell you just how long the Q plan extends past 2024. Another 116 years still yet to go.
They are mined with energy and cryptographically unique
No single person or entity gets to issue bitcoin. They are mined by a global network of computer nodes that anyone can join and contribute to. There is no single point of control or failure.
And they are not created from thin air. They are created by the network brute force guessing the answer to inhumanly complex math puzzles, quadrillions of times per second. The electricity (physical energy) expended to do this is where bitcoin's backing comes from. It requires more energy to mine a single bitcoin block than to pull gold or silver out of the ground.