Thanks for sharing. I agree that the majority of use cases discussed for bitcoin are not realistic (currency for exchange, store of value, inflation hedge, etc). The only use case I've heard that makes even remote sense is an inflation hedge for people that live in economies with persistant hyper-inflation, like Argentina, Venezuela, or Zimbabwe. Most people in these countries don't actually have the resources to buy bitcoin, but at least it makes sense.

Everyone else is buying because they are speculating that the price will go up. Without having some intrinsic value to measure, it is hard to know which part of the curve bitcoin is currently on. Will the price in 5 years be higher or lower than today? That is uncertain, which should worry people buying bitcoin now.

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