[munksbeer]

Thousands of cryptocurrencies are scarce. I can create a new one tomorrow which will also be scarce. That is necessary but not sufficient to create value.

It isn't cheap and easy to transfer. Tech nerds find it so, but get out the bubble and almost no-one else does.

The things I like about bitcoin is that it is indeed a trust free transaction mechanism, and provided you evade the law, there is no inbuilt mechanism to sanction anyone from using it. And yes, in theory it presents an alternative to traditional finance. I like that we have this now, as a threat so to speak.

Fantastic.

But now what? In reality, almost no-one cares. That is just the raw reality. It is too complicated, too insecure, too risky for most of society. I personally do not see any of this being overcome, and I never expect it to become anything other than a speculative vehicle in which most chain transactions are just people buying and selling it from each other for fiat money.