In my opinion, In new Era of Digital Evaluation after Revolution, just an idea or concept will not sufficient to do all the Math. Now there's a need of valuable commodity which should be interlinked with the value of Cryptocurrency. This connected commodity will help to stable the coin.
That's just my view of observing this Market's Future. What's yours
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Bitcoin has an instinct value even tough everyone keeps saying it doesn't. First of all all the mining costs money which means every single bitcoin that is mined newly costed money, if gold is mined that has a value than I am sorry but bitcoin does have a value as well.
If people think gold has value for the effort need to mine it than bitcoin should be as well, if gold has value because it is limited I am sorry but bitcoin is even more limited because gold could be discovered somewhere people didn't know existed and increase the total amount whereas bitcoin will not be 21.000.001, it will stop at 21 million.
Hence, the only reason stuff like gold/silver/diamonds/ruby and so forth has value so does bitcoin and all other crypto. We do not need anything that backs it up because no currency in the world has anything backing it up.