BitCoins are cryptographically allocated and tracked via a profoundly energy-expensive process that favors the creation of new money only to those who have the technological skills to manage large compute farms. BitCoin is the money of a technocracy that denies the ability to create new money to the majority of the economy’s participants. If you’re poor, you don’t get to participate.
However, their value has no basis in reality, only via their perception. BitCoin-bugs are fascinated with deflation and believe that the currency’s limited supply (about 21-million coins) will have to be subdivided into ever smaller quantities to make it a workable money. The early adopters mined thousands of BitCoins before it was hyped—and since the system is designed to make all mining progressively harder the more people try to mine them, they’re essentially hoping that you’ll be foolish enough to trade them fiat-money for BitCoins and cash out before the bubble bursts.