[dicefordeath]

And what utility are they extracting, exactly? It's incorrect to assume that a willingness to pay is always indicative of durable underlying value. See every bubble ever, for example.

The real problem in the world of crypto is that it's gone through many boom and bust cycles without real innovation to match. The future of what crypto could deliver is as speculative now as it was five years ago.

[mdorazio]

You've redefined general value to "durable underlying value". I'm not even sure what you would consider that to be outside of physical assets. Does GitHub have durable underlying value? I would strongly argue it does not, but it's still valuable because it provides something people find enough use for to pay money.