"if people didn't think they could make money off of Bitcoin, it would be worth absolutely nothing." Effectively, he believed that the value of Bitcoin was enti

"if people didn't think they could make money off of Bitcoin, it would be worth absolutely nothing." Effectively, he believed that the value of Bitcoin was entirely in people's perception. The value of pretty much everything is defined by how much people are willing to pay for it. Bitcoin is just some numbers in a database that a lot of people have convinced each other are worth something. US$ is some pieces of paper and some numbers in a database that a much larger number of people have convinced each other are worth something. Your labor is worth some amount because that is what you have been able to get people to pay for it. So is mine. A sandwich is worth some amount, so is the labor of the people who made it.