For the millionth time.
Bitcoin has value because there is a network supporting it with 9 billion in processing power. Yes, there are other crypto currency networks. This is a good thing. Ultimately, the capital will flow into currencies that it is treated the best. Is there more than one social media site? Yes. Does this mean that Facebook has no intrinsic value? Having more than option also makes it nearly impossible for the government to shut it down. If they go after Bitcoin you can simply move funds over to another crypto currency.
Crypto currencies create wealth or value because they enable purchases to be made absent of banking and credit processing fees and offer privacy of transactions.
Store and save Gold and silver is money. Buy and sell goods and services with Bitcoin. This breaks the monopoly.
The Red Coats are coming!