Originally Posted by holograph

those of you who say bitcoin has no value don't understand meaning of "value" much. all value is virtually assigned, be it fiat money, gold, land, labor or commodities.

bitcoin simply offers a fair unit to transact with that can't be tempered with to artificially inflate or deflate it's quantities and value. free market is in control of what the value of bitcoin is.

"fiat money are backed by their countries" - LOL. cyprus: "your money is safe with us" - can happen in any country. bad example? there are few in history with huge inflation wiping out people's savings to fraction of what they owned. yeah countries always back their money and people