This is way off.  For one thing, $80 in 1980 would be worth more like $250, not 3000.  Also, the price you gave is wrong anyway - if you don't adjust for inflation on this chart, you'll find that the peak was about $35, and if you do adjust for inflation you'll find that the peak was about $113.

Quite similarly to Bitcoin, silver is somewhat useful, and therefore some of silver's value comes from its use or potential use, while some of its value comes from speculators.

That doesn't mean that its collapse would be as dramatic as you think.