That's really interesting, I was on bitcoin side for a long time but recently and mainly because of Ari Sharif, I feel like the bitcoin is really not backed by anything. The bitcoin value is totally psychological and based on the belief it will replace money one day. At the beginning, the dollar was backed by gold and now the system is just too attached to it. I hope the system of social networking will be one with steem so it will stay valuable ^^
Please check my new post, I think you will like it!
@paps
It's all about belief and hodling..