I've said it before, but looking for intrinsic value in things that are digital makes no sense. If I were to offer you ownership of the domain name google.com for 100 would you buy it? Domain names are potentially infinite in supply and have no intrinsic value so any day now they'll all be worth 0 on the open market right?
I am not sure I would buy it as it is very likely that a court would take the domain away. And the underlying value for domain names are quite often big brands/companies - or domain names which attract a lot of traffic (and therefor you can generate advertisement income).
Bitcoin doesn't have this characteristic. It has a value because everyone believes it in it. The same is true for currencies like the Dollar - though the Dollar is backed up by the US Government and the US Economy. Bitcoin is backed up by nothing. You pay your tax in Euro not in Bitcoins...
Sooner or later the Fata Morgana will disappear and a lot of tears will be shed.
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