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Revision as of 21:50, 3 January 2011 by Nanotube (talk | contribs) (moved Bitcoin Myth to Bitcoin myths: rename page in accordance with standard naming.)
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People have several common misconception about how bitcoin really work. This page address these misconceptions.

Bitcoin is Backed by CPU Cycles

Bitcoin is not backed by anything. It is a commodity in its own right. Is gold backed by anything? No! It's just gold. Same thing with bitcoin.