Quote from: Snorek on February 19, 2017, 06:31:57 PM

Bitcoin value is backed by:

- blockchain - which will able bitcoin users to include messages in a globally distributed permanent ledger.
Bitcoin's blockchain is probably the biggest database on Earth right now, there is nothing comparable and as widely distributed as blockchain.

- bitcoin's blockchain can also be used to confirm ownership of documents or identity of users.

- if we look at other commodities - most of them are only expensive and have value, because people decided and agreed that they are worth something

- bitcoin is useful (as currency, payment method, store value) and therefore is has value.

- but yes, in the end BTC value is determined by supply and demand.

Yo, all that shit be blowed rite out da business end o' yo smokin' hot crack pipe, dog. Bitcoin ain't backed by NUFFIN. Not tha dam blockchain, not the guvn'ment, not 'lectricity, NUFFIN'. Get that straight. The ONLY thang thet give it any value is demamd an' thet the ledger of transactshins be useful ta a lotta computer geeks, drugg addicts, drug sellers, illegal pornograffers, scammas, an' them hard-core degenerite gamblers. Thank ya, suckas, ya got yo answa.