Upvoted and followed.

A very good post.

I will add that the "value" of something like bitcoin is based solely on the faith that people have in it as either a currency or a store of value. Why is gold so valuable? Why was aluminum the metal of choice of royalty hundreds of years ago? Yes, scarcity was one reason although aluminum, as we found out, was plentiful.

The only reason the USD has held up around the world is because people put their trust in it. Some guy handing you paper from some isolated island in the Pacific might not be worth much to you. It is the same with BTC. There are hundred of thousands, if not millions, around the world who trust in bitcoin. That is the value. Until these people lose that trust, it will continue to have that value. The USD had the trust since it was backed by the US government who people thought trustworthy. Along the same lines, bitcoin has the trust of people because it is backed by no government, hence making it trustworthy