[...]
A currency that is really valuable but not "backed" by any kind of commodity, such as gold or silver, or by a powerful institution such as the government or the bank. Bitcoins increase as more and more people believe that their value will continue to increase over time.
[...]
Bitcoin is backed by something even more powerful than gold or silver or government. It's backed by people like you and me. Of course it comes with its downsides, as people are moody and easily swayed, hence the volatility we still see today. However it's also what makes Bitcoin so resilient -- there's no single entity to be taken down. No gods, or king. Only man.
I think one thing that many people seem to be ignoring is the one constant....
[...]
GREED: - Major branches: Power/Money/Control - Now that BTC is been adopted by Banks/Traders(all the skankiest scummy dirty financial elite) - it means the CONSTANT will apply... they will use media, FUD, rumors and their Puppets in Government to manipulate and control the ups and the downs of BTC... it will never die.. because it has the potential to be their best cash cow ever.
Oh I'm pretty sure everyone around here is well aware of this constant. After all it's been one of Bitcoin's driving factors for the last few years if you're honest. Sure there's a lot of idealism, but idealism is not what got Bitcoin to USD 20k. Idealism is at the heart of things and what keeps Bitcoin ticking when things are at their worst, but greed is what put Bitcoin in the limelight and got the mainstream's attention.