(3) Bitcoin's only intrinsic value is its utility as a method of payment. Its value as an investment depends entirely on that utility.
No, this is not true. A significant portion of bitcoin value comes from its utility as a storage of value: an asset that is scarce, non-confiscatable, exceptionally carriable (cf. gold), pseudonymous, uncorrelated to any traditional asset, and more.
(The last one is in fact a defect.)
Yes they do.
Consider real estate on Pluto, and suppose that the UN created a body to manage its property register, with an open reliable market, and everybody trusted them to be up and honest for the next 100 years. If, on some day, the market price of 1 square km on Pluto were 1 M$, would you invest that money into it? How would you know that the market price of that land would still be 1 M$ the next day, and not 10$?
You wouldn't. But you wouldn't know that with any other piece of land on Earth either. On Earth things like earthquakes, floods, and fires happen, rendering a once valuable piece of land worthless overnight. Market value is only what people are willing to pay, not what some ledger says.
If you want to debate properly, you need to stop making silly troll remarks.
And from what I understand you don't even own any bitcoin. So tell me why you are here again, day in and day out, enlightening us with your trolldom?