What you are talking about is the speculative value. There is also a utility value for a pseudonymous currency that is difficult to block and nearly impossible

What you are talking about is the speculative value. There is also a utility value for a pseudonymous currency that is difficult to block and nearly impossible to reverse for things like drug sales or laundering money. One big risk with bitcoin is that another cryptocurrency could come along that has lower fees(because of block size or different proof of work system), faster block times for more reliable transactions, more anonymity in practice, or a more useful secondary network.