I can't pay taxes with it. I can't fund my credit card with it. Why do people value Bitcoins at $11 a piece?
Ahahahahhaha, Im paying my taxes with it, I have funded my parents credit card with it, And One bitcoin to me is worth more than $1000 Fiat Euros
Seriously. Offer me $1000 Euros for a bitcoin, Just so i can say NO.
Why? Because my bitcoin is worth more, To me, And to the people who use it.
(as a bitcoin miner in general) If i say its worth more, try to sell it for more, And if people agree and purchase it at the higher price, Then the reason as to why its COMMON value is around $10.50USD, should be obvious. Its because we feel its worth more.
Do we really need to go Back In Time to explain why they are worth any value atall?
I'll trade you Millions of BEAUTIFUL SHINY SUNREFLECTING LUSIOUS BROWN PLATES (peices of polished copper)
For your worthless dirty, Ulgy, old, used and smelly peice of RoadKill. (A racoon hat)
Whats gonna happen? It all depends on if the Racoon Hat seller's country has heard/seen of Copper yet.