Like many other things in this article this just isn't true. Demand causes demand, scarcity of a commodity in demand raises the price of that commodity, scarcity of a commodity not in demand is not very relevant. Like the dollar or other currencies, the only value held by a bitcoin is the belief of the holder or the prospective buyer that the "coin" HAS value. Should this belief waver the value will waver as well. Most importantly you neglect to mention the energy consumption necessary to maintain bitcoin, which is currently north of the total energy consumption of some small countries and which by the design of bitcoin will increase over time. In a world threatened by global warming it seems counterproductive and maybe unethical to consume energy unnecessarily.