It sounds like there's nothing wrong here -

Bitcoin is (since its beginning) exchanged for something else at market rate (e.g. dollars), so that a more convenient transfer can be made later, and then exchanged back into something else (e.g. dollars). At no point did it have "no exchange value on account of other employments".

Right? It's the same way how physical money works. They were exchanged for goods (e.g. horses), so that a more convenient transfer can be made later, and then exchanged back into goods (e.g. horses).

It is more convenient than our existing currencies, and you should be able to see our existing currencies as being similar to "goods" like horses.