[will_brown]

>Econ 101: The price of a currency is based on people's trust in that currency.

That is the beauty of blockchain right? Its trustless! I'll create 21M of Bitcoin2 on the Ethereum blockchain and send you the smart contract address you can verify on etherscan and boom there is no trust needed.

Edit: As to Irony, OP could have used anything to justify the value of Bitcoin, it is ironic he would select Gold and say it has no intrinsic value other than looking good as jewelry, when it is a intrinsic component to the Bitcoin ecosystem. Notwithstanding, I don't think its a coincidence OP compared Bitcoins value to gold.

[SilasX]

The OP meant "trust that it will continue to hold value", not (merely) "trust that transactions happen as intended". The blockchain crypto-magic only ensures the latter.