I'm tempering my enthusiasm for bitcoin because scarcity is not enough to create value. Yes bitcoin has scarcity built-in by design but that is the only thing it seems to have.
I don't get it... you're doubting bitcoin has value? Isn't that crystal-clear already? Even thieves are after them!
Scarcity alone is not enough, but being scarce + being desired by some people is enough to attribute value to any resource.