Quote from: reg on August 21, 2014, 03:15:40 PM

Quote from: Dafar on August 21, 2014, 02:53:47 PM

Quote from: nuff on August 21, 2014, 02:40:17 PM

Quote from: Dafar on August 21, 2014, 02:21:24 PM

There is demand from you and me, but not the general public

there's no demand for gold from the general public either. How many percent of the world populations owns gold? Yet gold prices have risen and are at an ATH. And gold's true intrinsic value isn't even close to the perceived market price, but that didn't stop it from demanding the current price it is now innit. Scarcity is what gave gold its value. Bitcoin has that same element and it's knowingly finite. That's all you need to make something valuable. coupled with fungibility and liquidity of course.

There used to be demand for gold, it used to be the universal currency and some national currencies are still linked with gold (so most people don't even need to own actual gold). The US disconnected the dollar form gold since Nixion was president and that is the only reason it seems like there is no demand for it, but let's be honest here bitcoin doesn't come anywhere close at the moment, even though bitcoin works much better as a currency.

If scarcity is the main factor that gives value why are 90% of alt/shitcoins completely worthless? Just because there is a supply cap doesn't mean people will jump hoops to get it.

I think the main ideas in this thread are correct in that there are many reasons which are unique to btc that implies it can only become universal and therefore rise in value. fiat is manipulated as are gold prices at the moment but i am not aware of any currencies still backed by gold? any examples you can give?

Actually, there probably isn't anymore, my mistake