# Gavin Andresen
# 2011-05-17 22:00:26
# https://bitcointalk.org/index.php?topic=8636.msg126209#msg126209

To get even more "meta" : ask yourself why @p{(it}anything@p{it)} has value. @p{par}

Tools, like hammers or cars or pants, have value mostly because they're useful and it takes effort to create them. @p{par}

Some things have value because they're beautiful or rare. @p{par}

Bitcoins have value because they are useful and rare.  As more and more people use them, they're useful for more and more things@p{--} so their value will increase.  A lot of the current value of bitcoin is people who realize this and are trying to 'buy in early' @p{--} they think that bitcoin will be used for more trading next year, so the value will be higher, so they want to get some now before the price rises. @p{par}

I have no idea what the "right" value for bitcoin is, but I am very encouraged by all of the fantastic, innovative ways people are using bitcoin.  I expect most of those experiments will fail, and I hope that everybody realizes that there will be lots of failures along the way to what I hope will be a huge success. @p{brk}