Is Bitcoin in any way valuable?

[DonCoquixote]

49. Virtual

My idea would be that whatever it is would be backed by x amount of goods. Let's say, The Un makes a currency, called the UNO. You could have it be worth x amunt of good, be it food, labor, energy, etc. In some ways, that would be better, because labor itself can be admitted to have a value, beyond the mere idea of wages, since wages can be too easily manipulated with Guns and/or lawyers. It could also pave the way towards a standard wage. After all, a lot of people are rotting for the fall of the Dollar, but what is to keep China Or Russia or Brazil or any would be new kid on the throne from abusing their power?

The bad side is what you pointed out. Just like every manufacturer has some office in Bentonville, Arkansas (Walmart home) so would all the thieves flock to the UN, especially since the UN is not exactly known for being free of corruption.