[everfree]

I'm not going to argue with you about how a Macbook is valuable to melt down, or has intrinsic value as a paperweight. Frankly I think that line of thinking is a dead-end for insight.

I also don't believe it's helpful to ponder the value of objects in the context of societal collapse. If that's your definition of intrinsic value, I don't think it's useful or practical.

All money falls into the greater fool category. The difference is that fiat money is not opt-in. It too is held mostly people who adopted earlier than you and lucky folks. Millennials are over 20% more likely to cry when trying to buy a home than the general population.[1]

> Negative sum games are not a good thing to prop up.

Your logic is circular - crypto has no value, therefore it's not useful, therefore it's a negative sum game, therefore it has no value.

You could just as easily say the opposite. People perceive crypto to have value, therefore due to its unique storage/transfer properties it has usefulness or extrinsic value, therefore it provides utility and is positive sum, therefore it has value.

It's all subjective.

[1]: https://zillow.mediaroom.com/2022-06-02-Half-of-Americans-cr...

[strofcon]

I mean, sure, if you'd like to ignore the entire point of inherent or intrinsic value, then... go for it? Weird flex, but sure.

And no, it's not circular - "negative sum game" is literally baked into the concept of a purely speculative unbacked "asset". More money has to go in than can possibly come out, and there's precisely zilch to show for it.

Any place that accepts crypto is simply immediately selling it for fiat, and making the customer pay more than they otherwise would in fees and headache.

Anyway, it's fun to be obtuse, I know, but you're pushing the limits here.

[everfree]

> "negative sum game" is literally baked into the concept of a purely speculative unbacked "asset"

The dollar is also a negative sum game, a purely speculative unbacked "asset".

More effort has to go into keeping track of it than can possibly come out.

> Any place that accepts crypto is simply immediately selling it for fiat, and making the customer pay more than they otherwise would in fees and headache.

Crypto payment processor fees are usually about 1%, which is less than half of the typical credit card processor fee. As for "headache", you'll have to elaborate on that.

[strofcon]

Wait did you actually say "all money falls into the greater fool category"?

You... Really ought to look up what greater fool theory is. And maybe money, too, while you're at it.

[everfree]

Well, don't just sit there and hand-wave. I want to hear why you believe non-state-backed currencies categorically fall into the greater fool theory, but state-backed currencies categorically don't.