Bitcoins and Johnny Walker

How do you set a Bitcoin price?  How do you know if the price is fair?  Could you set some type of gold standard, but without the hassle of holding gold?

In my recollection, money has taken the form of commodities at various points in history.  Such as a barrel of whiskey or tobacco during Colonial Times.  Commodities would be good, because they don't change, or don't change much.

You really want prices to be stable.  How do you know that you receive value if prices aren't stable?

Let's say you can buy this for 1 Bitcoin

Johnny Walker

Then, you may be in business.