If I buy a government bond on the market I didn't redeem that bond. Only the government can do that by paying me the face value of the bond. I see that you lack basic knowledge about finance.
You keep thinking in terms of government's bonds. Stop it. The videos you've mentioned have no relation with the questions you're making here. You're asking “
why would I want to buy a number”, I'm telling you that this number can be used to exchange stuff; it's a medium of exchange. There are people who find it
useful. Focus on this statement.
Redeemable means able to be bought back by the issuer. It doesn't mean able to be traded.
No, it also means able to be traded:
gain or regain possession of (something) in exchange for payment.
They are securities. Bitcoin is a number.
By the same reasoning, gold is also a dead rock. Yes, you can make jewelry, but what's the point of jewelry if you don't care about shiny necklaces? What if you don't care about electronics? What if you don't care about medicine and dentistry? Guess what: Some people do.
Same goes for Bitcoin. Some people are satisfied by using it as a currency, because it has perfect characteristics. The fact that you're seeing it just as a number doesn't make that false. Do we agree that if two individuals find it satisfactory, it instantly gains value? (Whether that's personal or market value)
Well, this is exactly what I am doing. Trying to exchange stuff. You want $38,000 dollars from me. And what you offer me in exchange is the ability to watch number 1 on the screen of my mobile phone. I am asking why would I gave you that much money for such an ability. Your answer is because this number a is medium of exchange. With is pretty irrational answer given that this is just a generic phrase. It's like asking a salesman about the box that has $10,000 price on it, to explain what you will get for that price and he answers: : you'll get a product. "A product" is just a generic phrase. The same thing is saying that something is "money", "currency", "digital gold", whatever. What I want to know is what utilization capacity will I get for my dollars which gave me the right to collaterals, goods, services, or labour of the borrowers, as explained it linked videos. So, we are trying to exchange stuff. And I am asking you: what utilization capacity do you offer me for my dollars?