Is Bitcoin Headed for a Total Meltdown?

All Ponzi schemes come to an end. Usually last in folks get burned. And those that refuse to admit they are wrong and claim diamond hands. No one can give a plausible explanation how something that has no value except what people are willing to pay for it at any given time, and claim that scarcity makes something valuable. What can be more scarce than something that can’t be found outside of the realm of zeroes and ones in virtual wallets? And what purpose does that whole mess accomplish except to consume massive amounts of computational resources that directly rely on massive energy consumption. And in that realm, today’s technology will be the equivalent to the floppy discs and dialup internet only those of us around a couple of decades ago will remember.