Quote from: iwilcox on March 09, 2013, 05:04:04 AM

Quote from: tango@bitango on March 09, 2013, 01:07:45 AM

I know we need an alternative monetary system, but I am more of a believer in real money, like gold and silver, not some cyber alternative to paper money. I dont have faith in paper money, so Im not also going to put faith into a computer generated money that has no intrinsic value outside of its theoretical scarcity and the fact that people are willing to accept it, even though it has no value in and of itself whatsoever.

Well, I'd agree with him up to "no value in and of itself whatsoever". The value of Bitcoin is no more or less faith-based than the value of paper money, and he's consistent in that he has faith in neither.

99% of Gold's value is based on "faith". Does he think it's currently valued at around $1600 per ounce because people can look pretty or conduct electricity with it?