Bitcoin's value? It has no value.
We all know that Bitcoin is so expensive so why do I say that it has no value, what I am saying is the intrinsic value of Btc. It has no Intrinsic value that is the reason is you strip the price of USD to BTC, it will have no other value. I think what you mean is the price of it. The price makes it attract other investors, they always want to ride with the hype.
Exactly, that is just how money works this days and possibly how it will work in the future.
The Venezuelan dictatorship trying to make a coin where they can cheat(Of course) backed by the oil reserves of the country. That is not a viable coin/currency for the future or mankind at all.
You have to understand the implications in the really big picture to understand why the intrinsic value in money is not viable considering the rapid rate at which humanity's population is increasing.
Even in the gold business they don't deliver only gold, but papers saying that when they mine that gold, it's yours.