That's certainly true, mate. Bitcoin does have value because people gives it value. Being a decentralized cryptocurrency no one can stop, does come with its benefits. With deflation built into the protocol, there's every reason for Bitcoin to be as valuable as it is right now. Believe me, you haven't seen anything yet as the best is yet to come. Once CBDCs come into play, demand for Bitcoin will be higher. That's because people will be seeking privacy and freedom when they won't be able to find it on a CBDC.

We're still in the early phase of digital currency adoption, so I'd recommend anyone to buy as much Bitcoin as possible before it's too late. Just my opinion

The USD is backed by what? By the economic power? If that is true, there must be a massive issue looking at the charts
Have you ever been in the art "industry"? It is backed by what? I saw people buying a extremely ugly childish painting for USD 2.3 Mio....
Gold is backed by what?

It's all about what people are willing to pay for, that's the whole magic.

Because it doesn't have a physical form, of course bitcoin was initially worthless, but there is another side that makes bitcoin very valuable, namely a great benefit, because it is useful, many people use it for various transactions which are proven to be faster, more efficient and of course safe, and high demand makes the value of bitcoin continues to increase.

That is an rhetorical question which probably might be no answer. But that not withstanding,  as you know bitcoin is a decentralized currency that need not physical assets to control it. You control yours and I control mine. You should not wonder because investment is not by force. I thought you would asked for the legitimacy of the currency. Investment is a personal interest if you want to do it you are free and if you don't to do it is all your choice.

And another thing you have to consider is the platform, so if you want to invest on bitcoin, asked questions to know the genuine Trading sites to invest. You don't have to be afraid as you are here. What you have to do is to read other threads and learn from them. Your inquisitiveness will determine your out come. So be focus and learn.

Bitcoin has value because many people use it and want it, see it as something of value, and use it as an investment or other use.
and if everyone stops using bitcoin in any form then the price will drop drastically and therefore will not earn anything.
and the value of bitcoin is also determined by the forces of supply and demand and is also limited.

But in that case, things would cost about the same, right? If things have the same functionality, why should they cost differently?

I think that the very meaning of "value" is and ways has been nothing more than a single word without a real physical meaning. Value is an abstract feeling. A feeling of desire. Biologically, our desires are wired into us and always come down to necessary human requirements like food, love, safety and so on. So value is whatever we feel like it is. However if you are talking about monetary value, electricity, miners, internet and rent is not free. So making Bitcoin costs money.

Those Bitcoin mining costs are the non speculative, translated value.

Bitcoin is valuable no doubt as it has helped a lot of people in various ways. Sending funds to loved ones  and it's purchasing power is top notch almost everywhere in the world.
Having no physical form brings a question to its value cause no one could physically see it to assess and put a value to it.
Countries accepting bitcoin as legal avenues to do transactions seems to think highly of its value.

are we really still having this conversation? lol bro.. its not 2015 anymore - the world has valued it at 40k for a reason.

One thing that made Gold and fiat currency have real value is that Gold and fiat currency is a believe system that works, so when you compare this two things with Bitcoin , tell me why will Bitcoin not have real value even when it's even more transparent than fiat currency today in the sense that we know how many number of Bitcoin that will be in circulation while for that of fiat they keep printing almost that's printed almost everytime .
you have to understand is that Bitcoin has already exhibited some characteristics of Gold and fiat currency and even more qualities , so when an asset Such as Bitcoin has shown such qualities Such as
a)security,
b)store of value, 
c)inflation hedge that made Gold and fiat currencies become valuable today , So why won't bitcoin also have a real value?.
So in my view this is why I will say that Bitcoin has real value and worth investing in.

btc is valuable & doesn’t need to backed by any physical assest. Its enough for itself. people set its value depending on how it is. It has ups and down but has real use too, companies investment making it more valuable. Even so many countries recognised it as valuable. More and more people keep involving, even  it was reached $66k ATH, what else you want? Now its your choice how you want to use your fund

It's not ours to evaluate, but for those who's willing to take the risk, I mean or I'm speaking behind the people who would like to invest in this asset; the value is unpredictable and there is always sway that affects the momentum and also mostly affects the investors and traders point of views.

You, as holders or investors, do need to seek for better reason on why you should take this as an asset.

I believe one simple logic to show that bitcoin has real value to other people is to show somebody that you are converting btc to your fiat currency. How can they not believe if btc has no value if they are actually seeing that btc has fiat value. It is understandable that some people are hesitant because they feel they will be holding an asset that can easily go away, which is true. They will be holding keys to their wallet and somehow for traditional users it is quite scary.

If so, then can i ask, why should we value Fiat money? After all those are nothing but a piece of papers with some paint on it!  Or why should we value gold? After all it is nothing but a shiny metal with golden color lol. But you know what? A thing's value depends on how others people also think about it and how much worth they are willing to pay, when exchange. This is how the process works and this how bitcoin, fiat, gold are get valuable. Now its your choice if you are willing to buy bitcoin or not

No government can create money by fiat, neither can any government set a value for their own currency. Fiat currency should always be backed by something, either by hard assets directly or by other fiat monies that in turn backed by those hard assets. Even if a government says that its currency is backed by "the full faith and trust in the government that issued it", it lies. No one trusts money that has no strong support in the form of hard assets. Bitcoin, on the other hand, is a hard asset itself, which means it is not necessary for it to have additional hard assets that would be backing it up. Bitcoin doesn't have value because someone said so, but because its value is observable for everybody who wishes to see it. It has certain strong characteristics and unstoppable decentralized nature that make its superiority unquestionable, especially against fiat monies whose value depends solely on hard assets like bitcoin.

No government can create money by fiat, neither can any government set a value for their own currency. Fiat currency should always be backed by something, either by hard assets directly or by other fiat monies that in turn backed by those hard assets. Even if a government says that its currency is backed by "the full faith and trust in the government that issued it", it lies. No one trusts money that has no strong support in the form of hard assets. Bitcoin, on the other hand, is a hard asset itself, which means it is not necessary for it to have additional hard assets that would be backing it up. Bitcoin doesn't have value because someone said so, but because its value is observable for everybody who wishes to see it. It has certain strong characteristics and unstoppable decentralized nature that make its superiority unquestionable, especially against fiat monies whose value depends solely on hard assets like bitcoin.

Since Bitcoin does not have any intrinsic value, its value is necessarily intersubjective, depending on how much each trader expects the rest of the market to behave.

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

If you understand Bitcoin's technology and its particularity, Bitcoin is indeed a virtual currency, without physical value, but people's needs are exactly where its value exists. The holders of the currency in the market trust Bitcoin, this This kind of trust is the embodiment of value.

I am an economics graduate and there I was told that backed country's fiat is gold

and what about bitcoins? what i have to say is bitcoin is not backed by gold, fiat or shares of big companies, bitcoin is backed by the community and also the belief of many people who want to change the world and become their own bank

this is what makes bitcoin very strong and very high value