“Rather than a commodity or currency, bitcoin is like owning stock in a company that will only ever issue 21 million shares and never pay a penny in dividends. The only way it has value is if the next guy is willing to pay you more for it — the greater fool. With no intrinsic value to bitcoin, it’s hard to see this as anything other than a giant speculative bubble,” he said.
I respect your thoughts, but much like fiat currency that is clearly just negotiated tender there is no true value to it ethier aside that it represents time and effort worked. Gold is no different, people like it's yellow shiney color so they asigned it value... As long as bit coin is tradable for other currency expect its exchange value to stay fairly high. (fact: there will be less bitcoins than ounces of gold on earth)
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