Value of Bitcoin

Came across a video debating on the intrinsic value of bitcoin. There are some interesting argument on the value of bitcoin. Worth taking a look. See below link.

In my opinion, bitcoin has its value and I agree that this is a currency that has potential to change how we value money. However, economy theory on the supply and demand will still hold when comes to valuation of bitcoin.

Demand and Supply : We can’t exactly determine the level of demand. However given that there are limited supply of bitcoin, value of bitcoin will certainly increase. The big question is on the supply. The supply is controlled by a complex¬†algorithm so in theory, no central bank in this world has a say on the supply.

The algorithm supposedly to be flawless but since it is invented by imperfect human, how sure are we to say that this system will not fail?