Comment Re:Nothing backs it (Score 2) 95
Price of silver has also dropped about 50% since it's peak in January. Yet, silver is valuable as both a monetary metal and industrial metal. 50% drop in the value of an asset is not that unusual.
Bitcoin has a lot in common with precious metal investment. Volatile AF.
However, it is extremely unlikely that gold, silver or platinum will ever be worthless. Bitcoin could.
The whole aim of bitcoin is to get as many people to exchange their dollars for it, then the chosen few in real control begin the selloff. Pump and dump. And so far, there are plenty enough "greater fools" to keep it going.