Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.
Rather, Bitcoin appears to have value for the following reasons: It is popular.
In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.
because its "Popular"? no. not so. bitcoin isn't that popular. USD is popular. the GBP is popular. the CYN is popular. Bitcoin has value because of its store of value. it is a social value NOT linked to anything (not even popularity) Satoshi Nakamoto purposely created bitcoin to be this way. otherwise it would ebb and flow as would the value of whatever it was linked to. Hence miners solve complicated monotonous algorithms that do NOTHING for mankind. it just burns energy, thus giving Bitcoin its own value independent of all other variables.