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scarp  ·  4727 days ago  ·  link  ·    ·  parent  ·  post: Bitcoin's comeback: should Western Union be afraid?
If nothing else, Bitcoin forced me to consider what makes currency valuable. At first I thought, What gives Bitcoins value? Then I thought, Well shit, what gives dollars value?

Basically the answer is trust. Trust in a system backed by large institutions who also trust the system. Relevant: http://www.youtube.com/watch?v=9LaSrxtWfgc