I think the idea is not that it has value only because people say it does. That is essentially the case with Federal Reserve notes. The idea of bitcoin is that it has value precisely because it offers an alternative to the Federal Reserve monopoly. If you understand wanting to compete against the Federal Reserve and get away from frns (as you say you do), then you understand the potential value of bitcoin.
Perhaps the difficulty, is that in the absence of a currency monopoly, the actual value of bitcoin may be greatly reduced. Nevertheless, in any situation of currency competition, a medium like bitcoin, may be of interest.
For you, maybe you can ignore it, and maybe it won't stand up in a free currency market. Also, maybe the original post is making a somewhat weak point. But if enough people start using it; if there are things you want, and you can only get them with bitcoin, then it may become more interesting to you. What I'm saying, is maybe you don't have to do the research, but just wait and see how it does. If it works, perhaps bitcoin will come to you.
If it becomes instrumental in dislodging the current monetary system, then I think we'll all recognize its value.
Want DP delivered to your inbox daily? Subscribe here:
Content of posts and comments on the Daily Paul represent the opinions of the original posters, and are not endorsed, app