Zangelbert Bingledack
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October 22, 2013, 07:19:07 PM

I think it's a myth that Bitcoin's value mostly stems from transaction value or merchant adoption. The real driving force is long-term investment. Or rather, the value does stem from transaction value and merchant adoption, but not present transaction value or merchant adoption but future transaction value and merchant adoption. One of the things that investors do is drive up the price of things that will serve a valuable function in the future, since most people won't buy them now since they're not valuable for that purpose now.
You beat me to it  Wink
an investment produces something, it has utility.

I take it you're not a gold bug?