That’s bullshit. The oldest store of value known to man (that’s still around) has no ledger-like properties. Plenty of other things people are using as store of value don’t have those properties either. Ultimately, there is only one thing that matters - that multiple people believe in something having value. If the number of people will fall, value will fall and it’s likely to be a cascade where a lot of value is destroyed quickly. However, if the number of people grows, eventually the item might be accepted as a generational store of wealth. As an investor, it’s important to understand this and ride the wave carefully. But it’s good to see that there still are true believers like you out there. PS. I remember in 2006 a guy who worked at Bear told me “The secret is to never ever sell the stock”.
The "puzzle" that Bezos solved has real world application. The puzzles that bitcoin miners solve appear to be abstract make-work propositions.
All I am really learning from this thread is that the answer to my original question is a resounding no. Market talks (screams really) but nobody changes their mind or even goes back to reassess their prior assumptions. I feel like it’s just things that non-coiners tell themselves such as - oh this is just a trading vehicle, if it moves the trade it, there’s no use case (objectively false). And not look at themselves in the mirror and think “wow this thing went from zero dollars to $2 trillion in 15 short years with no employees and no CEO and no marketing team. It’s worth literally more than every company in the world except for like five. Maybe I am wrong” if that doesn’t humble you and make you reassess your prior assumptions I don’t know what will.
The more I read this topic the more I realize why I'm the one with a (2008) Lambo LOL. At this point in the game, Bitcoin knowledge should be measured by lambos and yachts... If you have neither, you should cease speaking on the subject.
Actually there's a funny story to that because I took it to a luxury car garage for an oil change, and the bill was like $300 bucks. So I was like that seems a bit low. Then they looked at the paperwork and said oh they forgot to charge $200 for the filter or something.