bitcoin will never crash, like TFM says. yes, it is a bubble. yes, it has no intrinsic value. but younger milenials, gen-z, gen-a.. it is "their thing". it's like american dollar. it has absolutely no value and is backed up by absolutely nothing, but the world has mutual understanding that this is what we use, even if it is just a piece of paper that is being printed ad infinitum. the people give it the value. and so it does not have to have intrinsic value to be valuable to people.
I think you're right about this, we're witnessing how "fiat" in it's true sense actually works, by an act of shared will.
I disagree that it has no value. Major JP Lowery has made what I believe to be a unique and convincing use-case for bitcoin when applied to national security architecture.
His book "Softwar", available on Amazon and for free at Archive (I think) goes into detail. Or just listen to his interview with Robert Breedlove.
