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RE: The case for $1 million per Bitcoin isn't as crazy as it sounds...
Digital gold. How often is gold transferred or used for purchases? I think if bitcoin ever reaches $1 million it will be because bitcoin is used as a settlement layer for central banks and counties. You are right that the current iteration of bitcoin can never be used at scale for every day purchases.
Gold is used a lot when it comes to jewelry... You can pay jewelry using gold, or silver, because it can be reused as material.
Yes, but I read something a while back talking about a very small percentage of gold "consumed" is for industrial uses. Which means most of its value comes from people wanting it as a store of value, investment, jewelry. If it's price were to go down I imagine the demand for it in jewelry would actually be less as well, ironically. It's somewhat a status thing.
Nowadays lead crystal is more valuable than silver or gold... Few years ago I bought my gf lead crystal earrings and necklace. It's like cheaper version for diamond, but not too cheap...