Bitcoin $700,000 and the Wait for the Egalitarian Cryptocurrency

Bitcoin may hit $700,000 or go down to zero depending on who you choose to believe. I personally think that it will keep rising and crashing, but it will never quite die, because there will always be people in both camps.

To be sure, Bitcoin or any other cryptocurrency doesn't have any intrinsic value like let's say gold - but as we know, that's also true for all fiat currencies generated by central banks around the world out of thin air. In fact, cryptocurrencies like Bitcoin have one intrinsic value, if you can call it as such, that is its rarity - there will never be more than 21 million bitcoins and out of that 17 millions have already been mined, and it gets progressively harder and energy-consuming to mine the rest.

Does that fact so much energy and computer processing power are being used to mine these coins - add value to the coin? I would think it does - at least in the mind of those who actually spent money to buy expensive hardware and spent on electricity to mine them.

Whatever the future of Bitcoin is, it is anything but fully egalitarian. By 'fully egalitarian' I mean it is not a currency that every human being can have or will ever have. Yes, it cannot be created out of thin air like central banks and commercial banks do. It's a big shift and who knows it can partially replace fiat currencies as a reserve currency someday, but that's about it.

I am waiting for that cryptocurrency that will give every human being access to the world's resources in an egalitarian way. For example, when a child is born, say in Bangladesh, that birth will create a transaction in the blockchain in that child's name for a certain number of coins which can be used for accessing resources. That transaction will also deduct something from the digital wallet of rest of the world's population because we share things, right?
I hope.