Out of thin air? No, out of (currently) 10.574 Thash/s. You think that kind of computing power is made of faery dust unicorn-horn? Think again.
hard work to obtain something doesnt make it valueable.
this guy worked hard with his lawn mower:
http://www.youtube.com/watch?v=CIaCHqxdSXc&feature=feedfand he's funny, too, which got to be worth something.
No, that's not my claim. Value is in the exchange, but saying bitcoins are created out of thin air is fucking ridiculous. They are made out of shit-hot graphics cards, electricity and processing time, applied specifically to the purpose of creating a good form of money. The value comes from trade. The more people trade for them, the more value they can be traded for.
I'm tired of these youtube idiots that come out with "Duhhh, I jus don't unnerstan how come somethin I can't hold and ain't shinny can be any valubal"
That's just coz you're stupid. There are descent criticisms of bitcoin to be said, but not understanding anything that "ain't shinny" is not one of them.