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Isn't it moreso backed by our collective belief in it? Taking a leaf (or ten) from Sapiens here

• asdsa5325 8y ago
  It's not really a "belief", it's backed by the real things you can do with it. For example, if your currency is accepted by any real estate agent, your currency has real value far beyond belief, since property has real value in our society. This is what cryptocurrency lacks, and why it's value is overstated.
  • koonsolo 8y ago
    Houses have already been brought with bitcoin, even pizza's.
    • asdsa5325 8y ago
      >For example, if your currency is accepted by any real estate agent