>It also repeats typical nocoiner fallacies like "it has no intrinsic value" and "gold is used for jewelry", ignoring that the ability to independently verify the money supply and being able to transfer money across political boundaries without censorship is probably the most important intrinsic value one could hope for in a MoE/SoV.
They're not fallacies; you _hope_ that someday it will be able to accomplish the goal you've described, but it certainly doesn't today, and it's price is completely based on the greater fool theory. Gold is desirable; crypto is not. It's a "currency" that isn't one and has ZERO intrinsic value.
No, it's not. People desire it for what it can be used for. It has some intrinsic value. Crypto has exactly zero value outside of being a store of value, and because it cannot be used as currency, it's value is determined by what it can be exchanged for in actual currency.
By your logic I would think everything trades on the greater fool theory because it's only worth what someone will pay. Well, yeah, that's true across the board, but people pay for things because they see value in it. Crypto's value is only what it can be sold for.
They're not fallacies; you _hope_ that someday it will be able to accomplish the goal you've described, but it certainly doesn't today, and it's price is completely based on the greater fool theory. Gold is desirable; crypto is not. It's a "currency" that isn't one and has ZERO intrinsic value.