To be sure, crypto has a cost to maintain its stable state/value in storage, compute, power. gold does have intrinsic value, but clearly the value has been over-represented by speculation long term. Conflating gold as intrinsic value is just as deluded as crypto. In the most disastrous outcome, gold will still be worth what people value wearing it around their necks. Crypto will only have value until all participants pull the plug on once the liability to maintain it outstrips it's potential returns.