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RE: The case for $1 million per Bitcoin isn't as crazy as it sounds...
This seems yet another case when theory doesn't meet reality... If Bitcoin would ever be worth 1 million, just transferring the minimum usable amount would cost so much that most of the people would vomit hairballs like our pet cats...
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...