Bitcoin has value because it's the best and often the only way to buy drugs (scheduled and prescription) online. >It's understood that that gold still backs US

Bitcoin has value because it's the best and often the only way to buy drugs (scheduled and prescription) online. >It's understood that that gold still backs US currency, in a more abstract, unpromised way. This has nothing to do with value. Gold is almost completely useless - its value is overwhelmingly due to speculation. Dollar is backed by enforceable debts. No better backing is possible. With gold, you're only hoping that somebody will buy it from you, for unclear reason.