It was created to be an internet currency. Satoshi made it that way. But after a decade it found a different, much stronger use case.
No, it hasn't. This is what I've said few posts above. Many choose to use it as an investment and/or hedge to inflation, but if there isn't
one willing to exchange goods and services for it, there's no purpose at all. So, every use case comes from the fact that some people see it as money.
So bitcoin is more like an internet gold rather than internet currency.
That is only meant to be traded. Quoting this guy:
As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose
and one special, magical property:
- can be transported over a communications channel
If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.
Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it.
I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value. But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.
(I'm using the word scarce here to only mean limited potential supply)
