[yks]

That’s the underappreciated argument. If we to assume that the collective will power is all it takes to create an alternative asset, e.g. the narrative “gold is old, we need a new one” then it follows that it can and will be repeated. I don’t see why people not born yet would play by the rules of the future “Bitcoin wealthy elites” when they could become elites themselves by hyping another asset/cryptocoin instead. Thus even if the narrative of “store of value” and “hedge against inflation” turns out to be correct, I still don’t believe Bitcoin supremacy will last longer than a single human generation.