Bitcoin is only so valuable because its a pyramid scheme. All the participation and engagement by miners and anyone looking to get rich off it is predicated on

Bitcoin is only so valuable because its a pyramid scheme. All the participation and engagement by miners and anyone looking to get rich off it is predicated on how most bitcoins were already made so any market growth translates into increased prices and scarcity for the bitcoin that exists. This is the fundamental problem with making a cryptocurrency that can actually serve its users well. To get popular, you need to be a get rich quick scheme, but to actually be useful, you need to not deflate out of control forever. But bitcoin is doing what it was meant to do. It wasn't meant to promote a healthy monetary policy or be a pervasive useful currency to replace the fiats we have now - it would have had a much different coin issuance algorithm / monetary growth policy otherwise. It demonstrated the capabilities of proof of work distributed consensus and made its early adopters ludicrously rich.