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False, belief that you can use them later for goods and services is what gives it its value.

And you can only use them for goods and services if there is someone there making the transaction work, i.e, miners.

Quote from: ManBearPig on April 25, 2013, 01:47:52 AM

You're mistaking correlation for causation. They are both on similar upward angles but BTC corrects for other reasons.

It corrects for other reasons, but too far up will cause either (A) all the miners to start selling everything they get driving the price down or (B) people to begin to worry about such a vast amount of money being secured only by the "limited amount of miners." The fact of the matter is that a higher difficulty and more miners removes a huge downward pressure on Bitcoin.