I am not trading it with some pieces of paper but with security that give me the right to recive capital that the security issuers borrowed at security puting on the market. The higher a number on paper the more capital, that is utility value, will I receive at security withdrawal from the market. You must educate yourself how securities work to be able to understand what I am talking about. But here that's not the point given bitcoin is not a security. Bitcoin is literally a number. And I am asking why would I pay an enormous amount of money for it?
a $10 bank note is a security of what???
if you take it to a bank. what do you expect in exchange??
at best they will swap a dirty, tatty crumpled bank note for a crisp bank note. 1:1
if you lose a $10 bank note, a bank wont just re-reimburse you/compensate you for the hole in your pocket.
a bank note is no longer backed by gold.
if anything it can be considered backed by copper/nickel that puts a $10 bank note at relative exchange of about $20 worth of scrap metal pennies and 5c coins. but the inconvenience of holding such weight and counting coins when doing purchases means people dont like to accept 1000 pennies for a $10 value purchase even if they can scrap the 1000 pennies for $20 later.
when loans are taken out. its printing money(from nothing). where the receiver has to pay it back + interest
this then causes your $10 bank note to not be worth $10 value. because the moment it circulates. and you receive it as income from work. you are suppose to give $2(20%) of your income to the government in taxes. meaning your instantly at a 20% value loss, only able to buy $8 worth of goods.
if you take out a mortgage for $100k your basically going to have to give back $110k on a 2 year loan(5% interest per year)
so that $100k is also less than $100k value. because you need to do 130% labour to pay tax(20%) on new income and then pay it off with the remainder income+interest(10%).
what do you seriously expect bank notes to secure, what liability is it you are describing that banks have to you.