My view is definitely that Bitcoin solves a problem I don't have, in just about the worst way possible (proof of work).
I truly believe it’s simply that they want it to fail since they missed the boat, and their ego is on the line as a forward thinking, “ahead of the curve” technologist.
It can’t be the biggest development of the last decade, what would that say about them? Therefore, inefficient ponzi that’s only used for drugs!
I don't really have a lot of regrets about that though. I have more regrets about selling other things too early, like stock positions I once owned.
However, I think the speculative bubble valuation of 2010 is well justified now. The thing about speculation is that sometimes the speculators are right. Tesla is almost certainly in a speculative bubble, too, but every day they arguably justify a higher base value.
That said, you seem relatively balanced for a crypto critic, and didn’t miss the boat but rather jumped off, so I’m not sure you’re part of the cohort I’m describing.
I'm also very excited about Moderna's mRNA pipeline for example, building new vaccine for cronic illnesses (vaccines are trivial important application at this point of course), and Tesla's mission of decarbonizing the world and getting rid of air pollution. It's just Bitcoin is what I believe will give me the highest ROI right now to invest later in other important technologies.
I certainly don't think so.