The dollar is backed by gold, the gold is the bareback of it. What is behind Bitcoin?
What inherent value does Bitcoin have?
We don't know how created it, maybe it's a government funded project
It's just speculation, the technology hasn't been tested yet.
Dollar is not backed by gold. Gold is not backed by anything, it has speculative value driven by supply and demand, just like everything else, just like Bitcoin.
Does is matter who created it as long as it's working? It's open source and in 9 years no one found any backdoors.
Bitcoin has been tested for 9 years already, it was and always is under attack, yet it continues to function like a clock.
But here's the kicker that I have been thinking about since we talked: He believes the private/public sectors will adopt the Blockchain, the governments, businesses to further improve their systems.
This is what currently happening, and also a lot of public blockchains like Ethereum or EOS or IOTA are moving towards more and more centralization in order to get more performance, because at this moment centralized systems are still way more efficient than public, decentralized ledgers like Bitcoin. But Lightning Network is an extremely promising game-changer that will give a huge edge to public blockchains.
I need to point one thing, everything has a `speculative value driven by supply and demand`, and supply and demand are people. With our trades, holding we make supply higher or lower, people that want to buy are demand. People give value to everything around.
We are not moving towards centralized private blockchains, governments do that, and some private companies, why not if they want private network, but as the customers and users we choose to use them or not, we can choose decentralized bitcoin over centralized ripple. 20 years ago nobody knew what is decentralization, everything was centralized, blockchain is a step forward not backward.