> Well of course it doesn't! It's a currency. Currencies are an abstraction for value. This is true. However, most traditional currencies started out as someth

> Well of course it doesn't! It's a currency. Currencies are an abstraction for value. This is true. However, most traditional currencies started out as something that was an abstraction for value, but was backed by something of tangible value (e.g. gold standard). This isn't true anymore, we aren't on the gold standard, but if nothing else that lack of transition from tangible to "imaginary" value never happening with bitcoin is part of what fuels the uncertainty and skepticism. Bitcoin will likely continue to succeed even with its lack of "intrinsic" value and no backing by a traditional organization/govt simply because it was first. I don't think any of the alt-coins that don't also bring something else to the table are going to succeed long term though.