I'd see people analyzing the blockchain, finding out that certain BTC hasn't been moved in a long time, and thus 'investing' with the belief that the remaining coins are more valuable because of their scarcity. That's just a guess about spectators, but it seems probable that they'll eventually include that in their projections. They may already do so. So, it may have the opposite effect.

You are correct; humans only give it worth. The "store of value" narrative was invented by whales. youngandthrifty.ca never indicated that it is intended to be digital gold; instead, he stated that it is intended to be digital cash. Cash is utilized for transactions rather than investments. The inflation hedge is a tale that has just 3 years taken off, and it is unproven ground that can lead to significant losses for many people. Bitcoin was designed to be an internet currency, not an internet investment. You are entirely justified to be concerned that you may not get back what you put in ten years from now. Use bitcoin, not store it.

"Bitcoin" is, first of all, "not a 'coin' at all." It is a highfangled barter token. Which, by the way, is not illegal at all. (Many very-large-scale transactions within narrow "verticals" of trade routinely use barter arrangements, in order to "save money." They are taxed nonetheless.)

If a group of people wish to agree that, say, "a certain kind of tulip," is (to them ...) worth "thousands of conventional currency-units," then they are entirely free to do so. Until someone finally writes a double-book concerning them: "Extraordinary Popular Delusions and The Madness Of Crowds."

The key point is simply that this is not "legal tender." Which is a very-special designation which actually says that "you cannot refuse it, if it is offered in payment of a debt." If you offer to pay me in "<<barter_tokens>> of any sort," I am entirely within my rights to say, "no." You're entitled to believe that a token is worth "thousands of dollars," and I am likewise entitled to declare that, to me, it is worth absolutely nothing. Neither one of us is "wrong."

I'm not going to spend kilowatts of electricity trying to compute a hard-to-compute digital token, when history tells me that a tulip bulb will work just as well ... "as long as it lasts."

It always weird to think that 'technical' people (who most are usually the vocal 'sky is falling' climate change advocates) thing this is a good idea when it sucks electricity like crazy for one thing. We have a bit coin operation here in town that is using more electricity than the whole city. And they are absolutely ok with that and want to expand the operation. Silly. They should instead raise 'tulips' and barter those as 'natural' barter tokens .

As for being dead? Probably never go away entirely. There is always someone/group that tries to find a way to make an easy 'buck' or think its a way to not pay taxes or launder real money.... Like perusing perpetual motion though.

Nope. It goes through cycles just like any other commodity which is traded on the free market.

It occurred to me earlier - if Bitcoin and its like are working then how are they helping the people of Ukraine and Russia? I watch Twitch and see Russian creators who cannot be paid through the platform but I do not see Bitcoin helping.

Please, and sorry at the same time, this is not about this particular situation but how this kind of "currency" helps with it.