3) With regards to the pyramid scheme argument, how is this different then taking risk investing in an up and coming company?
The difference is a company does things to generate profit. Bitcoins just sit there.
You buy the stock hoping they will be able to make a larger profit in the future. You buy bitcoins hoping somebody else will be willing to pay more for them in the future.
Can you see the difference now?
I buy them to support the project and tell others to try them out because they become more useful when more people who use them. I am naturally rewarded if this occurs, due to the limited supply and increased value.