This might be beating a dead horse, but what's the difference between Bitcoin and gold then?
If gold loses its value, then it's just a heavy rock. They both take time, money, and resources to mine but neither of them have any intrinsic value.
If gold loses its value, then it's just a heavy rock. They both take time, money, and resources to mine but neither of them have any intrinsic value.
I think the more honest measure is simply how many people have faith in it. Bitcoin and gold may be logically equivalent for this function, but a lot more people have a lot more faith in gold.
But as far as recent technology goes, Bitcoin's been around for a while. It's older then the iPad.
You can't do anything with Bitcoin if is exchanging at $0 USD.
Ethereum is a better example, but on the flip-side so is steel.