1. So BTC value isn't currently influenced by speculation?
2. see point 1
3. Trustless? Define trustless because that statement means nothing
4. I agree there but the dollar wasn't always fractional either and it was that very function which killed it
5. what commodity? it isn't tied to anything, unless we have gold bitcoins now
6. ok, because we don't see these exchanges getting ripped off for however many btc
as far as gold goes well there are obvious benefits but I'll dispel it all in one simple statement.
In the event of a major economic collapse you all have the assumption you will be able to afford the internet and power. I'm doubting that anyone could in the event of a collapse. Once those two factors are gone, BTC dies a quick death.
1. I'm asserting that everything on the market today; goods, services, gold, and Bitcoin included are all suffering from the effect of our credit based system. The market is not an accurate representation today of what it should be in reality.
3. Trustless means that you don't need to trust a third party to facilitate your transaction. You don't need to trust the authenticity of the issuer because Bitcoin is a protocol; not a central third party.
4. The dollar must be fractional to facilitate quick or digital transfers; unlike Bitcoin where transfers do not create a fractional system.
5. Bitcoins are tied to every commodity in the same way that every other commodity is tied to one-another. The value of Bitcoin is a factor of trading for goods, services, or investments/commodities.
6. The exchanges are required to trade for fiat. The exchanges aren't a representation of the security of Bitcoin. The exchange servers have always been the vulnerable point.
After fiat collapses the market will correct itself. Anybody who can afford internet now will likely be able to afford the internet after a collapse. The infrastructure already exists, the price will adapt.