[searchableguy]

> Sustained value for several years (yes volatile), descent liquidity and markets to buy and sell without restriction.

I think this is the key reason for many of these people. They think just because something has existed for a longer time frame, it has fundamental value which is absurd to me.

It applies to diamond, gold, commodity, etc investments as well. The demand is purely artificial and based on historical context than usage.

[alexvoda]

It's not about fundamental value. It is simply that it is usually a good bet that if something has existed for an amount of time it will continue existing for a similar amount of time. This mostly stays true even in the face of breakthroughs, disruptions or paradigm shifts. It takes time for the old paradigm to fade. Unless there is a clear sustained period after period decline, the thing will probably continue existing.