[jariel]

XorNot is essentically correct.

Crypto is a 'get rich quick' speculative behaviour, driven by multiple narratives as you say, but those are effectively just narratives used to validate the participation.

Amway's 'narrative' was that you could 'help' your neighbours by selling them cleaning products.

But really it was a pyramid scheme.

There are some questions around the Fed and monetary dilution etc, but BTC is not the answer.

And of course currency was never meant to be a 'long term holding'.

Literally by design, we build at minimum a tiny bit of dilution into our currency, that's 'part of the plan' so don't hold it, hold something else.