Or based on what the public perceives as the value of 1 bitcoin is, not necessarily their trust in it. Let's admit it, there aren't many people left here believing that bitcoin will be successful. In truth, they are just trusting other traders to do the first move and just ride on those waves to get profit, but not necessarily vest their trust on bitcoin in the process. Miners are also trusting the speculators to make some moves in order for their mining ventures to be profitable. The trust goes to the traders ultimately, not the miners and certainly not bitcoin itself.