If you don't need outs, then you don't care about the value of BTC.
Lets make this more explicit: Why are you so attached to the value of BTC? Dollars for instance, are worth less than a Euro and less than a British Pound. It is only in the insanity of the BTC market that people seem to care about making BTCs "worth more".
The value of a currency is a measurement of the faith of people holding it. That's all it is.
If people have no faith in a currency, they'll drop it like bad habit. If people have a ton of faith in a currency, they'll hoard it like crazy.
Everything you buy with a currency is, again, a decision you make based upon faith. You have _faith_ that a house will be a good place to live, that it'll provide for your needs and maybe be worth more in the future. Of course there are _reasons_ for this - and i can understand you objecting to me claiming that it's just faith. Reasons are great, for sure, because we've found that faith which is contradicted by all reason tends to fail. The reasons we have, though, are entirely historical. I have faith that the sun won't explode tomorrow. My _reasoning_ for this is based upon my understanding of the physics of stars and which ones explode and which ones don't, but i recognize that i may be wrong. That's faith. If someone has _no faith_ that the dollar wil be worth anything, he's not going to hold any. If he thinks 'well i dont think it'll be worth anything, but i'm sure other people will think it does' then he has faith that it will have value in the future - because other people having faith in it confers value to it.
Bitcoin is powered by the blockchain. If bitcoin is worth a lot of money, then the blockchain will be much harder to break or adulterate. It's not just a means of storing account balances - people can store whatever they want in the public records. No government can tamper with it, and no company can claim copyright and censor it.
I think that's something a lot of people would like to have faith in.
You're not understanding my point. Dollar / BTC is a terrible measurement of faithfulness. You're so fixated on dollars per BTC that you've lost sight of what BTC is supposed to be: a currency.
> you've lost sight of what BTC is supposed to be: a currency
it could be many things. as to what it's 'supposed' to be, i'm not sure what you mean. the inventors of the system can't know exactly what will happen.
i agree that the dollar/btc exchange is a terrible measure of faitthfulness. a good measure would be 'how many addresses have had hundreds of coins for over a year' - because whoever holds each of those addresses has 1) a lot of faith in bitcoin and 2) enough resources to live their daily lives.
that says something. i'd rather have the currency be the main 'storage' of people's faith in the world - which would mean it'd be just as volatile and crazy as the stock market, because people's faith changes every day. if that kept the volume low - so that most people saw it as 'confusing hacker money that seems to get wealthy but is hard to use daily if you don't understand security' then the daily volume of transactions will be close to nothing.
Lets make this more explicit: Why are you so attached to the value of BTC? Dollars for instance, are worth less than a Euro and less than a British Pound. It is only in the insanity of the BTC market that people seem to care about making BTCs "worth more".