If bitcoin is useless, then explain why literally billions of dollars are flowing into it. The market determines the value. The market has spoken. You are wrong.
You are right the market does determines the value. However, ask yourself, how often do markets get it wrong? Remember the Dotcom bubble? or many other time when a security crashed dragging the entire market down. What I'm trying to say is the true value of bitcoin has been misrepresented as cheap money remittance tool. Bitcoin is not a utility anymore. So, what intrinsic value is there?