The Antisocial Network of Bitcoins - NYTimes.com
▻http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html
Par Paul Krugman
Gold’s value comes in part because it has nonmonetary uses, such as filling teeth and making jewelry; paper currencies have value because they’re backed by the power of the state, which defines them as legal tender and accepts them as payment for taxes. Bitcoins, however, derive their value, if any, purely from self-fulfilling prophecy, the belief that other people will accept them as payment.