Backed by what? Faith? Confidence? You can't trade your US dollar in for gold. The note literally just says, "You must accept this for any debt(Because)". Are

Backed by what? Faith? Confidence? You can't trade your US dollar in for gold. The note literally just says, "You must accept this for any debt(Because)". Are we really going to go down to that intrinsic value of the paper it's printed on??? To be honest, I actually have little faith in bitcoin myself, but I can at least see the reason why it has taken off as far as it has, and it did earn me a pretty penny when I got out(I mined all my own bitcoins and just to experiment with a new technology, right from the beginning). I just get tired of hearing extremophile arguments this way or that.