I built a token by creating a smart contract for it, and have successfully connected to it, which is on a Ethereum test-net. Using web3.js I have been able to send token from one account to another account, score! However, I'm having a hard time finding a tutorial on how to add Ether to your token, to give it an actual monetary value. From what I understand, part of the beauty of creating tokens on a decentralized P2P ledger network otherwise known as a blockchain, is that it gives you a secure way to transact any infinite number of abstract things. But how do you give those tokens actual value? Do you tie some amount of Ether to your token, and state in your smart contract how much ether one of your tokens is worth?
Or do you explicitly set your smart contract up to pull ether from an account automatically when they send token from their wallet to another wallet? In either case how do you accomplish that? I have seen that some functions have payable on them, and this may be the key to what I need. Could anyone help me out?