Quote from: p2pbucks on February 02, 2015, 03:41:13 AM

bitcoin is backed by

1. the stable mathematical laws behind it

2. the believers use it

3. bitcoin's own economic eco system (global anonymous market )

4. its unique features ( anonymous , can't be frozen by third party Or Gov , almost no transaction fee )

Quote from: p2pbucks on February 02, 2015, 03:41:13 AM

bitcoin is backed by

1. the stable mathematical laws behind it

2. the believers use it

3. bitcoin's own economic eco system (global anonymous market )

4. its unique features ( anonymous , can't be frozen by third party Or Gov , almost no transaction fee )

The technology is rock solid, but the value is not backed by other commodities. One must compare Bitcoin to something, otherwise prices will be arbitrary.

If one wants to have a stable currency and thereby avoid inflation and deflation, it must be stable in value against something else. Value is always relational.

That being said, you guys have made some valid points, and I'll actually buy 10 Bitcoin today. Hope they will increase in value. What do you think?