The value of bitcoin lies in bitcoin. It is digital gold. When paper money first came about most people wouldn't touch the stuff. What value does ink on a piece of paper have? You would have to be insane to accept that instead of proper currency.
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THE LEGAL AUTHORITY OF THE GOVERNMENT AND IT'S ABILITY TO TAX IT'S POPULATION!
z z z yourself. Money is whatever The Man says, yes. And value is whatever someone who will deal in it is. But as already noted, go read the old threads. Repetition is annoying.