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Except that it makes the rocks not worth as much. You had a corporation with a million dollar business and a million dollars in cash. It pays out the million dollars in cash as dividends. Now the rockholders have a million dollars in rocks and a million dollars in cash, when they used to have two million dollars in rocks. Their rocks decline in value by the amount of cash no longer inside the corporation.

Nope, that is not the way it works. When you have ownership of a company (by holding stocks), the company can pay out a dividend and the price of the stock does not go down. On the contrary, the price of the stock may go up because the company has proven that it generates cash and will pay this cash out to shareholders periodically.

This is why companies viewed as assets have “intrinsic value” and something like BTC does not. If I own stock in a company that pays out dividends and the stock does go down, at least I still get money in the form of dividends. I can be assured that if the dividends continue (not a given), then the price of the underlying stock will “correct” to match the intrinsic value of the company over time.

Contrast that with BTC - I have no real way of knowing the “real” value of BTC. If the price goes down, then it may stay down forever as there is no way of accurately pricing it based on some real-world metric. It produces nothing, therefore this is why some people say it is not a good asset to own.

> You, the holder of rocks, get the increase in business value as "rock price appreciation" rather than dividends, but you still get it.

So BTC for you is at the same time an asset AND a currency ?

How does it work ? It goes to the moon forever, so a loaf of bread cost goes ever higher forever ?

One thing I'd say is the volatility. Imagine Bitcoin as a global payment mechanism for the world. It's capped sure(21m) but volatile. You're buying something in El Salvador and someone/someones in the world make the price crash. By the time you reach for your phone in pocket to make the payment (say) and begin to pay, your item now costs double of what it should have costed. How does that work?