I may be mistaken, but I was under the impression that cryptocurrency has value because of the innate properties of a good cryptocurrency, that it is private, secure, verifiable, and trustless. This is why the cryptocurrency is so vastly superior to currencies that are backed by only authority, and convention, and made out of dumb matter, rather than math that can function in creating the qualities of privacy, security, verifiability, and trustless transactivity. Paper currency can never do the things that a blockchain can.

This is more useful and eliminates the need for an authority, or a popularity to declare that it has value. The consensus comes in with the affirmation that it is advantageous to use in transactions, but is not the totality of what gives it it's value. If no one uses it, it is unused, but not devoid of potential value.

I may be missing something, but this is where the information has led me. I'm sure that a cryptocurrency can be created that can subvert any of the stated valuable qualities. I'm sure the banks and the state have already done this, or are going mad trying to. Currency control is right up there with food and water control for maintaining power.

If I have missed something, I would be pleased if you would point it out. Thank you.