“The value of a bitcoin is tied to the value of the transactions that will eventually take place in the Bitcoin economy, because a bitcoin is essentially the right to engage in transactions with other people who own bitcoins. The theory as to why we will eventually see a large volume of transactions is that it will be cheaper to transact on the ledger than it will be to transact off the ledger. If it really is cheaper to operate in the (theoretically) friction-free Bitcoin economy, there is indeed a good reason to use them in lieu of conventional currency. Regardless of what happens to Bitcoin, the idea of ledger-based money is going to be attractive to a lot of people.”
http://www.nationalreview.com/agenda/365282/thoughts-bitcoin-reihan-salam
Tip Freedomwat.ch Staff with Bitcoin