The owners are under no illusions - at least not the professional ones. They are buying an asset that is vastly more efficient to move across borders than cash.
Look at the Singapore Money Laundering Bust a few months back - all handbags and rolexes.
To some degree, but if something is 100$ worth of parts and 500$ worth of labor it's hard to argue it's actually intrinsically worth 30000$, even if that's what you're willing to pay.
Not if there's a "moat". Which could be unique expertise in making the thing, or through some government enforced monopoly like trademarks (i.e. "brand") or copyrights.
Not on hacker news! Herre the group think only allows for things that everyone agrees on and some are completely non-grata, like BTC, which none, supposedly, like. Let me translate, i have tried to evoke the same argument and "lost" saying the value is what we assign to anything (BTC)
Look at the Singapore Money Laundering Bust a few months back - all handbags and rolexes.