Bitcoin is now backed by the Euro

Just a few minutes ago I have set aside 21 Euro. I hereby guarantee that I will pay 0.01 Euro to anyone who sends me 10,000 BTC.

Bitcoin is now actually backed by the Euro, on my authority.

Is it any relevant? No. I'm just explaining what "backed by" means and showing that it doesn't matter.

submitted by dskloet

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from Bitcoin http://ift.tt/1fHYrNj