I already replied in a comment to this earlier this evening... This is what I said.

I don't see the point in debating ideologies. Neither side will ever concede to the other. This is a perfect example.
You fail to understand that Bitcoin is backed by a belief; just not by a belief in a single government.

There are certain truths about humanity which can't be disregarded. The truth to which I'm referring is that above all else, the greatest desire of all humanity is freedom. People will sacrifice life, wealth, love, even happiness for the pursuit of freedom.

What does this have to do with Bitcoin you might ask? This is the belief of which Bitcoin represents. If I choose to believe in Bitcoin then I have chosen to believe in the infallible idea that Bitcoin represents and further supports. People will support Bitcoin for as long as they desire freedom. A national government can regulate Bitcoin until the legislators are blue in the face but an unenforceable regulation is no regulation indeed. They have no power to enforce regulation of Bitcoin and the means to acquire said power would be unpalatable for a citizenry built upon freedom. The acquisition of that power alone would be Authoritarian and the government would do well to realize that such action would be crossing the line which serves it's own existence.

Simply to ask about the "floor" of Bitcoin is foolish. There is no floor to Bitcoin, but to assume there is ever a floor is only to admit how spoiled one has become having lived in a time where such a fail-safe could even be perceived to exist. There is no such fail-safe in anything of value; that I can assure you.

The only thing you can feel certain will ever retain value is the labor you can perform with your body or mind.

Bitcoin is the next evolutionary step in the history of money and it will be worth more than you will ever believe. Mark my words.


Here's the link:
Read more: http://www.businessinsider.com/everyone-who-believes-in-bitcoin-should-try-to-answer-this-question-2013-12#ixzz2qGzdCrar