Everything you just said focuses, without you being aware, on one word: perceived.
Its value is in the imagination of counterparties.
The world’s reserve currency is oil. It has a value of 5.8 Gigajoules per barrel, and it doesn’t matter whose imagination is involved. The value will always be that number.
Bitcoin is no different from the dollar. Its value is perceived. It’s determined by imagination. It’s not better based than the dollar. It’s not more poorly based. It’s identically based. Both are determined by imagination.
Russia talks about this rather a lot lately, and our media carefully avoids quoting it. It is very dangerous for people to realize one currency is based on oil production/consumption surplus, and the other (ours) based on production/consumption deficit.
I agree, energy is the world’s reserve currency. Without it we are back to the stone age (metaphorically speaking). Gov’t hates all things they can’t control to their benefit. Bitcoin is a different animal from all the rest. It has value because some entities are willing to take it in exchange for hard goods. This is done in “the market” which is the best vehicle . Central planners (governments) screw up everything they touch, always have and always will. As great empires destroy themselves it is always from within, and the process is repeating. Western civilization is late in the 3rd quarter or early in the forth of this current game. Capital Controls always enter the picture at some point toward the end as the overlords are desperate to prevent the total collapse long enough for themselves to escape. Bitcoin would certainly be a handy thing to have access to if you needed to flee to someplace outside the blast zone.
“without you being aware, on one word: perceived.”
and you know i wasn’t aware of the word “perceived” when i used it, how? mind reader, are you?