This is stupid, i'm saying that as someone that holds a small amount. People are just speculating ,instead of adopting ,and undermining it's utility.
Imagine you bought a coffee with BTC for $3 in 2014. How much did you really pay for that coffee?
Once upon a time when we realized shuffling around gold bars was slow, expensive, and a pain in the ass, we created a much more liquid network on top of the gold, and called it the dollar.
How long until lightning network runs into limitations due to the fixed supply of gold, err I mean bitcoin, and abandons the "bitcoin standard"?
This is the first time a truly global, decentralized and truly always on digital store of value has been accomplished.
This is a big thing and the current price is nothing compared to the future prospect of this.
If you disagree with this, I challenge you to give an example of something that fits your description of intrinsic value. That is, something that would still have “value” even if nobody in the world were willing to pay for it.
air
water
sunlight
sex
If I received iron in trade for some goods/services the _only_ value it would have is as currency.
How can this be if it is supposed to have intrinsic value?
Either I literally always need to consume more iron or the iron has no intrinsic value.
The SALT system allows people worldwide to lend to others. Even in sanctioned countries because they can just source lenders in those countries and the borrower has the universal collateral.
And thats just one utility, only possible because of the speculation driving liquidity.