Precious metals have value because of their properties: Long lasting; don't oxidize, reusability; stay the same after each melting, breaking, bending..., verifiability; easy to spot scam metals. And some others, but these are the reasons gold and silver have been used historically.
Basic Economic Principles:
These simple discussions that we are having about "what has value, what is gold and silver BACKED BY..."
These are ELEMENTARY AND FUNDAMENTAL DISCUSSIONS. If Bitcoin were not on the table, we WOULD NOT BE HAVING THESE NECESSARY DISCUSSIONS.
I mean the points I have been reading are so basic, it seems that many have not TRULY THOUGHT through them before. So I see Bitcoin as an EYE OPENER or a GOOD CONVERSATION PIECE.
Hell even if Bitcoin were fictional, we would all be having an important chat here.
Bitcoin Myths: https://en.bitcoin.it/wiki/Myths