Yes, people can behave irrational and stupid when driven by greed or fear. This is known phenomenon.
Even if that's the case, the grain of sand gains market value if hundreds of millions of people find it utilizable. You can't deny that a group of people actually use Bitcoin, whether they're irrational or not.
So, it just became meaningful, you're wrong and case's closed.
And still, I got no answer.
That's a lie. Emphasis mine;
I already gave it to you. You're getting the ability to use a currency. Just like when you give $1 for €0.88. Bitcoin is a currency with specific characteristics. Some evaluate it because of these.
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.
You can't make jewelry out of it. You can't live in it. It doesn't represent a fraction of a company. But, if two individuals agree that Bitcoin is money, then it instantly gains monetary value. And it does look like money! It's divisible, portable, durable, easily verifiable and transferrable.
Neither is Bitcoin intended to be observed in your screen. Also, both are capital if two individuals say so.
You're asking me why wouldn't I want the dollar, I'm telling you that it's constantly inflated from the near-zero limit of required reserve. You then ask me why would I want a currency that is used by anonymous people, I'm telling you that it's a hedge to inflation.
And yet, you keep making the same kind of witless questions.
Why should I buy a number? Why would I pay a specific price for it? Why $38,000 and not $0.0001?
Also, scarcity is referred to things people can live off of. From numbers in a database no one can.
First, this is solely your opinion, diamonds are scarce, but we don't need them to live, and second, I can live with Bitcoin.
We can make a system where grains of sand stay only inside that system. But they are still grains of sand and thus, abundant in quality. In the same sense, bitcoin is still a number and numbers are infinite in quality.
But, it ain't just a number. I can't create bitcoins by drawing numbers in a paper. You're becoming a laughing stock.
You can't comprehend that money is beyond debt. You only want to prove us all wrong, because a “number in a database” sounds too moron to be traded with fiat currency. Well, guess what: It's not. People like you, who are conservative and not creative enough, can't see what's Bitcoin. Please allow the others to think otherwise, thanks.
As for irrationality, you're the most irrational and obtuse person in this room, as far as I can tell.