Quote from: Crypt_Current on June 11, 2013, 10:31:27 PM

Quote from: crumbs on June 11, 2013, 10:25:19 PM

Are you saying Bitcoin's value is due to its rarity & usefulness?

If no one else is, I am. Hell even if some or every one else is, I still am. This is exactly what makes it valuable: the unique combination of scarcity and utility that was heretofore unprecedented. It's a monumental achievement of humanity -- presently highly undervalued.

You've been around this forum for a bit, so i'm sure this conversation happened more times than you can shake a stick at. But i''ll bite: You're talking about potential, not current, usefulness -- am i right? Because right now, if i don't need to gamble or buy from SR, my fiat does just fine, while Bitcoin ... well, i can't even gas up my car with it. As far as potential usefulness, I suggest you get behind my Bitcoin V2.0 -- I'll let you in on the ground floor & toss you a few coins.
Oh, and you can mine it while the difficulty's still low (sorry, old Bitcoin -- you had your day in the sun). My 2.0 is no different from bitcoin, other than lower total coin count (+1 for RARITY), so it's potential usefulness is no different from Bitcoin V1.0.

So, is it rarity & usefulness that gives Bitcoin value, or could it be ... something else?