> The intrinsic value of bitcoin (if this matters) is immutable storage. You see this utilized with projects such as counterparty. I have heard people talk abo

> The intrinsic value of bitcoin (if this matters) is immutable storage. You see this utilized with projects such as counterparty. I have heard people talk about the storage aspect of Bitcoin as having value before, and it's probably the best argument for Bitcoin having any inherent value whatsoever. You're making a more intelligent observation than most of the people in this thread. That said, Bitcoin has a $3.4 billion market cap. Litecoin has a $119 million market cap, and even the joke crypto-currency Dogecoin has a $12 million market cap - and they can be used as storage mediums as well. As a storage medium, Bitcoin would be way overpriced. It's price is due to the other points I mentioned, mainly the hype.