Value is subjective. The question is on what a person bases the value. Bitcoin is valuable. You can buy a house with it. But the subjective value of bitcoin is not based on any objective property of bitcoin. There is no difference between Bitcoin or any other so called shit coin. Actually there is no intrinsic feature of bitcoin that you can objectively base anu value on. It has no intrinsic value. Gold value is also subjective, but it is based on it's objective properties. For instance an electronic manufacturing company might buy gold because it's high resistance to corrosion and high electrical conductivity. Anyone who isn't trying to manufacture electronics won't care about electrical conductivity. Therefore the value of this objective property is subjective.