[nickonline]

> All of which is speculative

Just like Gold, coloured beads, or stocks

> can't be used for transactions.

Gold is a pain to use for transactions, and so are shares, but they still store value and people continue to speculate on their future worth?

[Havoc]

Gold is tangible and definitely has real world applications. Shares are backed a legal system tying them back to the real world corporation and it's assets.

BTC in the absence of transactions has not tie-back to anything.